Janna Purdie looks at the principles courts apply when determining whether or not to exercise their winding up jurisdiction
Winding up foreign companies
Refs: OJSC ANK Yugraneft, Millhouse and Sibir [2008] All ER (D) 311 (Oct)
In a judgment of interest in the current economic climate, the Commercial Court has set out the principles applicable in determining whether or not it may exercise its jurisdiction to wind-up a foreign company in the English courts.
Facts of the case
Refs: OJSC Oil Company v Abramovich [2008] All ER (D) 299 (Oct)
The case links through to the OJSC Oil Company v Abramovich case in which judgment was handed down on the same day. That case effectively decided the outcome of this one but the judge considered that he should continue to deal with it as it was a free standing application.
In this case, the applicants sought an order to set aside the appointment of the provisional liquidator of Yugraneft, a declaration that the court would decline to exercise its insolvency jurisdiction and an order dismissing the winding up petition.
The court considered two issues:
Was
