A propos de Gide
Fondé à Paris en 1920, Gide est l’un des principaux cabinets d’avocats internationaux.
International
Gide intervient dans de nombreux pays et est implanté dans six régions du monde, avec 11 bureaux.
Fondé à Paris en 1920, Gide est l’un des principaux cabinets d’avocats internationaux.
Gide intervient dans de nombreux pays et est implanté dans six régions du monde, avec 11 bureaux.
5 février 2014
Gide Client Alert | Dispute Resolution & Insolvency | UK & Russia | February 2014
Following the Supreme Court decision in New Cap Re, creditors were concerned that by participating in a foreign insolvency of a borrower or other counterparty (usually in that party's home country), they might be giving up the right to bring proceedings against it elsewhere, conferred by negotiated jurisdiction clauses for example. The recent decision in Erste Bank AG, London Branch v JSC “VMZ Red October” and Ors [2013] EWHC 2926 (Comm) confirms that foreign insolvencies do not automatically defeat later proceedings brought in England, but creditors should remain cautious when participating in a foreign insolvency process.
Gide acted for the successful claimant in Erste. Mr Justice Flaux held that by simply proving in insolvency proceedings of its borrower and a guarantor in Russia, Erste had not submitted to the Russian court. It was still entitled to bring proceedings against the borrower and guarantor in England (under an exclusive jurisdiction clause) to determine claims against them following their default.
