Samsun Logix Corporation v Def [2009] EWHC 576 (Ch) (12 March 2009)

Samsun Logix Corporation v Def [2009] EWHC 576 (Ch) (12 March 2009)

The requirements for recognition of the Korean insolvency proceeding as a foreign main proceeding under article 17 were satisfied, and the court was required to recognise the proceeding and grant the relief sought, including a stay of arbitration and discretionary relief under article 21.

Citation
[2009] EWHC 576 (Ch)
Parties
Claimant/respondent: Samsun Logix Corporation; Defendant/appellant: DEF
Jurisdiction
England and Wales
Judgment Date
12 March 2009
Procedural Posture
Application Under Cross Border Insolvency Regulations 2006 / Judgment on Application for Recognition of Foreign Proceeding
Outcome
Application granted
Legal Topics
Recognition of Foreign Insolvency Proceedings, UNCITRAL Model Law, Stay of Proceedings, Discretionary Relief Under Insolvency Law
Insolvency Cross Border Insolvency Recognition of Foreign Insolvency Proceedings UNCITRAL Model Law Stay of Proceedings Discretionary Relief Under Insolvency Law

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 3 Party arguments 2
Sign in to unlock

Parties

Samsun Logix Corporation

Claimant/respondent

DEF

Defendant/appellant

Procedural Posture

Application Under Cross Border Insolvency Regulations 2006 / Judgment on Application for Recognition of Foreign Proceeding

Legal Issues

  1. 1 Whether the Korean insolvency proceeding should be recognised under the Cross-Border Insolvency Regulations 2006
  2. 2 Whether the proceeding is a foreign main proceeding
  3. 3 Whether a stay of arbitration proceedings should be granted

Ratio Decidendi

The requirements for recognition of the Korean insolvency proceeding as a foreign main proceeding under article 17 were satisfied, and the court was required to recognise the proceeding and grant the relief sought, including a stay of arbitration and discretionary relief under article 21.

Court Disposition

Application granted

Orders

  • Recognition of the Korean insolvency proceeding as a foreign main proceeding
  • Stay of arbitration proceedings against the company