Mendonca v KPMG Corporate Finance Sao Paulo, Brazil [2020] EWHC 351 (Ch) (21 February 2020)

Mendonca v KPMG Corporate Finance Sao Paulo, Brazil [2020] EWHC 351 (Ch) (21 February 2020)

The Brazilian bankruptcy proceedings in respect of Deep Black Drilling LLP satisfy the requirements for recognition as foreign main proceedings under the Cross-Border Insolvency Regulations 2006, despite the LLP's dissolution in England, as the Model Law and CBIR permit recognition based on the foreign court's definition of debtor and the centre of main interests being in Brazil.

Citation
[2020] EWHC 351 (Ch)
Parties
Applicant: Osana Mendonça; Applicant: KPMG Corporate Finance LTDA; Debtor: Deep Black Drilling LLP
Jurisdiction
England and Wales
Judgment Date
21 February 2020
Procedural Posture
Application for Recognition of Foreign Insolvency Proceedings / Judgment on Recognition Application
Outcome
application granted in part
Legal Topics
Recognition of Foreign Main Proceedings, Centre of Main Interests (comi), Bona Vacantia, UNCITRAL Model Law, Cross Border Insolvency Regulations 2006
Insolvency Cross Border Insolvency Company Law Recognition of Foreign Main Proceedings Centre of Main Interests (comi) Bona Vacantia UNCITRAL Model Law Cross Border Insolvency Regulations 2006

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Parties

Osana Mendonça

Applicant

KPMG Corporate Finance LTDA

Applicant

Deep Black Drilling LLP

Debtor

Procedural Posture

Application for Recognition of Foreign Insolvency Proceedings / Judgment on Recognition Application

Legal Issues

  1. 1 Whether Brazilian bankruptcy proceedings in respect of Deep Black Drilling LLP should be recognised as foreign main proceedings under the Cross-Border Insolvency Regulations 2006
  2. 2 Whether a dissolved LLP can be a debtor for purposes of recognition under CBIR
  3. 3 Whether the foreign representatives can be entrusted with administration of bona vacantia assets

Ratio Decidendi

The Brazilian bankruptcy proceedings in respect of Deep Black Drilling LLP satisfy the requirements for recognition as foreign main proceedings under the Cross-Border Insolvency Regulations 2006, despite the LLP's dissolution in England, as the Model Law and CBIR permit recognition based on the foreign court's definition of debtor and the centre of main interests being in Brazil.

Court Disposition

application granted in part

Orders

  • Brazilian bankruptcy proceedings in respect of Deep Black Drilling LLP recognised as foreign main proceedings under CBIR
  • Foreign representatives granted access to the court to make applications as appropriate