Article
Can A Creditor Present A Bankruptcy Petition Based On An Unrecognised Foreign Judgment?
The UK Supreme Court has resolved a critical question about whether creditors can use unrecognised foreign judgments to initiate bankruptcy proceedings in England and Wales. The landmark decision in Drelle v Servis-Terminal LLC examines the 'obligation principle' and determines what constitutes a qualifying debt under the Insolvency Act 1986, potentially streamlining the process for international creditors seeking to pursue insolvency actions without formal judgment recognition.
Gowling WLG
