OOO Nevskoe (No. 1), Re [2023] EWHC 15 (KB) (11 January 2023)

OOO Nevskoe (No. 1), Re [2023] EWHC 15 (KB) (11 January 2023)

In the absence of a recognised foreign insolvency order in England and Wales, the 'first past the post' principle applies, entitling a diligent creditor to enforce its judgment against the debtor's asset in the jurisdiction. The pending application for recognition under the Cross-Border Insolvency Regulations 2006...

Source-derived case information.

Citation
[2023] EWHC 15 (KB)
Parties
Applicant/claimant: OOO Nevskoe; Respondent/defendant: UAB Baltijos Šaliu Industrinio Perdirbimo Centras (formerly UAB Alfagra); Third Party Respondent: Bilderlings Pay Limited
Jurisdiction
England and Wales
Judgment Date
11 January 2023
Procedural Posture
Third Party Debt Order (tpdo) Enforcement Proceedings / Final TPDO Application and Order
Outcome
Final Third Party Debt Order made, subject to conditions and directions.
Legal Topics
Recognition of Foreign Insolvency, Third Party Debt Orders, Assignment of Debt, Priority of Creditors, Brexit Impact on Insolvency Recognition, Disclosure Obligations in Ex Parte Applications
Insolvency Arbitration Civil Procedure Cross Border Insolvency Recognition of Foreign Insolvency Third Party Debt Orders Assignment of Debt Priority of Creditors +2 more

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Parties

OOO Nevskoe

Applicant/claimant

UAB Baltijos Šaliu Industrinio Perdirbimo Centras (formerly UAB Alfagra)

Respondent/defendant

Bilderlings Pay Limited

Third Party Respondent

Procedural Posture

Third Party Debt Order (tpdo) Enforcement Proceedings / Final TPDO Application and Order

Legal Issues

  1. 1 Whether a Final Third Party Debt Order should be made where foreign insolvency proceedings are pending but not yet recognised in England and Wales
  2. 2 Whether the assignment of the debt by the Claimant to a third party (Dognus) bars enforcement
  3. 3 Whether the Claimant's non-disclosure of the assignment at the interim stage affects the order

Ratio Decidendi

In the absence of a recognised foreign insolvency order in England and Wales, the 'first past the post' principle applies, entitling a diligent creditor to enforce its judgment against the debtor's asset in the jurisdiction. The pending application for recognition under the Cross-Border Insolvency Regulations 2006 does not bar enforcement. The assignment of the debt to Dognus and the Claimant's non-disclosure of the assignment at the interim stage do not, on the evidence before the court, bar the making of a final TPDO, but require disclosure and an opportunity for affected parties to be heard before payment is made.

Court Disposition

Final Third Party Debt Order made, subject to conditions and directions.

Orders

  • Claimant to disclose the assignment agreement to the Defendant and Third Party within seven days.
  • Third Party to pay €627,717.11 to the Claimant upon satisfaction of conditions, including the expiry of 28 days from delivery of written reasons or determination of any application to vary/set aside.