Victory for BVI liquidators in Australian courts
In a recent Federal Court case in Australia (Global Tradewaves Ltd (GTL)  FCA 1127), liquidators appointed by the British Virgin Islands (BVI) court to GTL successfully obtained leave to examine a former director of GTL in relation to the company’s affairs and to compel him to produce certain company records.
The Australian Federal Court’s decision was an example of the application of the UNCITRAL Model Law on Cross-Border Insolvency (the Model Law). Legislation based on the Model Law has been enacted in more than 20 jurisdictions and was given force under Australian law by the Cross-Border Insolvency Act 2008. The aim of the Model Law is to make liquidation proceedings for multinational companies smoother and more efficient, thereby increasing legal certainty for international trade and investment. The law focuses on encouraging co-operation and co-ordination between jurisdictions…
Click on the link below to read the rest of the Ogier briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
Maternity leave, paternity leave and flexible working coming soon.
Independent directors are now seen as an essential part of the due diligence process for investors.