Almuhairi & Anor, Re [2024] EWHC 535 (Ch) (31 January 2024)

Almuhairi & Anor, Re [2024] EWHC 535 (Ch) (31 January 2024)

The Abu Dhabi bankruptcy proceedings meet all statutory requirements for recognition as foreign main proceedings under the CBIR, as the debtors' COMI is in the UAE, the proceedings are collective and court-supervised, and the Trustee Committee are duly appointed foreign representatives. The court is therefore...

Source-derived case information.

Citation
[2024] EWHC 535 (Ch)
Parties
Debtor: Khaleefa Butti Omair Yousif Almuhairi; Debtor: His Excellency Saeed Mohamed Butti Khalfan Alqebaisi; Applicant: Paul Leggatt; Applicant: David Stark; Applicant: Salem Mohammed Ballama Al Tamimi
Jurisdiction
England and Wales
Judgment Date
31 January 2024
Procedural Posture
Application for Recognition of Foreign Insolvency Proceedings / Judgment on Application
Outcome
Application granted
Legal Topics
Recognition of Foreign Main Proceedings, Centre of Main Interests (comi), Automatic Stay, Trustee Committee Powers, Cross Border Insolvency Regulations 2006 (cbir)
Insolvency Cross Border Insolvency Bankruptcy Recognition of Foreign Main Proceedings Centre of Main Interests (comi) Automatic Stay Trustee Committee Powers Cross Border Insolvency Regulations 2006 (cbir)

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Parties

Khaleefa Butti Omair Yousif Almuhairi

Debtor

His Excellency Saeed Mohamed Butti Khalfan Alqebaisi

Debtor

Paul Leggatt

Applicant

David Stark

Applicant

Salem Mohammed Ballama Al Tamimi

Applicant

Procedural Posture

Application for Recognition of Foreign Insolvency Proceedings / Judgment on Application

Legal Issues

  1. 1 Whether the Abu Dhabi bankruptcy proceedings qualify as 'foreign main proceedings' under the CBIR
  2. 2 Whether the Trustee Committee are 'foreign representatives' under the CBIR
  3. 3 Whether the court is obliged to recognise the Bankruptcies under Article 17 of Schedule 1 to the CBIR

Ratio Decidendi

The Abu Dhabi bankruptcy proceedings meet all statutory requirements for recognition as foreign main proceedings under the CBIR, as the debtors' COMI is in the UAE, the proceedings are collective and court-supervised, and the Trustee Committee are duly appointed foreign representatives. The court is therefore obliged to recognise the Bankruptcies and grant the requested relief.

Court Disposition

Application granted

Orders

  • Recognition of the Abu Dhabi Bankruptcies as foreign main proceedings under the CBIR
  • Stay on execution against the Debtors' assets in this jurisdiction