Sian Aitken
Sian Aitken and Graeme MacLeod look at a case confirming the precedence of domestic administration proceedings in a multi-jurisdictional winding-up, marking the first time modified universalism has been recognised in Scots law.
The Court of Session has confirmed that the administration in Scotland of a Scottish company will take priority over an Indian liquidation of the same company, regardless of where the companys business and assets are situated. The court has also confirmed that the validity and enforceability outside the UK of a floating charge is irrelevant to the validity of an administrators appointment in Scotland under that floating charge. The decision provides the holders of floating charges granted …
Read the full article at: http://www.scottishlegal.com/2016/10/26/blog-sandbags-at-dawn-administration-of-scottish-company-prioritised-over-foreign-liquidation/