We are always happy to provide video or telephonic consultations. Give us a call!
  • Home
  • Client Portal
  • Chat Now!
  • Contact Us
Price Law Group
866.210.1722 Se Habla EspaƱol
Make a Payment
live chat button
  • Home
  • Meet Our Team
  • Bankruptcy
  • For Clients
  • Contact Us
  • Call Today
  • Email Us
  • Our Map
  • Menu
Bankruptcy Blog 2011 May U.S. bankruptcy rulings may be applicable in cases in that affect residents in the UK
Previous Post  |  Next Post

U.S. bankruptcy rulings may be applicable in cases in that affect residents in the UK

Posted By Price Law Group || 6-May-2011

The Court of Appeal recently ruled in the case of a trust created by Eurofinance that British courts could recognize overseas insolvency proceedings made by courts in the United States. After the collapse of Lehman Brothers and the Bernard Madoff scheme, financial analysts say that U.S. bankruptcy court rulings growing in sync with rulings in the UK may become a reality.



The Court of Appeal recently ruled in the case of a trust created by Eurofinance that British courts could recognize overseas insolvency proceedings made by courts in the United States. After the collapse of Lehman Brothers and the Bernard Madoff scheme, financial analysts say that U.S. bankruptcy court rulings growing in sync with rulings in the UK may become a reality.

If the move had been made sooner, the Financial Times says that victims of the Madoff plot in the UK could have been received more money as retribution for their losses. In the case of Lehman, trustees in the United States could seek support from the UK courts in enforcing U.S. bankruptcy judgments.

John Verrill of Dundas & Wilson, a law firm involved in the Eurofinance case, said the removal of the requirement for duplicate actions in either the United States or the United Kingdom was an important change. Before this, U.S. bankruptcy judgments were not enforceable in the UK unless a separate UK action had begun on the same grounds, the Times notes.ADNFCR-3423-ID-19922310-ADNFCR




Share Post

For more information call us at 866-210-1722 or fill out the form below.

Practice Areas

  • Chapter 7
  • Chapter 13
  • Chapter 11
  • Collection Defense
  • Creditor Abuse
  • Debt Consolidation
  • Debt Counseling
  • Debt Relief
  • Debt Settlement
  • Foreclosure Defense
  • Short Sales
  • Tax Resolution
contact-btn
Close

Contact Us Today

Price Law Group - Bankruptcy Attorney
Call Toll Free: 866.210.1722

  • Home
  • Site Map
  • Privacy Policy
  • Contact Us
Price Law Group

Toll-Free (866) 210-1722

Price Law Group - Bankruptcy Attorney
6345 Balboa Boulevard, Building 2, Suite 247, Encino, CA 91316 View Map
Toll-Free (866) 210-1722
Website: https://www.pricelawgroup.com/
Price Law Group is managed by Steven Alpert
© 2023 All Rights Reserved.

WE ARE A DEBT RELIEF AGENCY. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.

Internet Marketing Experts The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

In Missouri, we do not have a staffed office, and appointments are virtual.