MCGRATH v RIDDELL

[2008] Lloyd's Rep IR Plus 33

HOUSE OF LORDS

Before Lord Hoffmann, Lord Phillips of Worth Matravers, Lord Scott of Foscote, Lord Walker of Gestingthorpe and Lord Neuberger of Abbotsbury

Insolvency – Conflict of laws – Jurisdiction – Cross-border insolvency – Choice of law – Foreign insurance company in insolvent liquidation in Australia and auxiliary liquidation in the UK – Australian liquidators requested the transfer of UK assets to Australia to be distributed in accordance with Australian insolvency law – Whether court had power to direct the remission of the UK assets to Australia – Whether such power based on inherent common law jurisdiction or statute – Whether that power should be exercised in the present case – Whether to permit application of Australian insolvency regime to assets – Insolvency Act 1986, section 426(4) and (5).