Cross Border Insolvency Regulations 2006
The United Nations Commission on International Trade Law ("UNCITRAL") has adopted the text of a model law on cross-border insolvency; this was approved by a resolution of the UN General Assembly in December 1997. The Cross-Border Insolvency Regulations 2006 give effect to the model law in Great Britain and came into force on 4 th April 2006.
National insolvency laws are often not designed to cope with cross-border insolvencies. The jurisdictional and practical problems that arise make it difficult for insolvency officeholders to administer them speedily and effectively. The uncertainty this brings is widely seen as a barrier to trade and the flow of investment from country to country. A universal approach to cross-border insolvencies is therefore crucial, as is the co-operation between national courts, authorities and practitioners
What the regulations do
Information from Companies House
Where a foreign representative has been appointed for companies, branch and place of business registrations in Great Britain, Companies House will receive a form ML7 detailing the short particulars of the court order, when it was made and who has been appointed the foreign representative. Information contained on the ML7 will be available from Companies House by contacting the following teams:
in Cardiff the Liquidation Team on 029 20 380 65, or for Scottish filings CH Edinburgh on 0131 535 5855. For further information please contact: