Intelligence

The Isle of Man High Court has issued a landmark decision confirming for the first time in a reported judgment the considerations that the Isle of Man Court will adopt

Claire Corkish from Appleby's Isle of Man Dispute Resolution team attended the INSOL Europe Annual Congress in Athens this October.

His Honour Deemster Doyle recently handed down judgment in a case which considered the legal principles applicable when a party seeks to challenge decisions made by a court-appointed liquidator during the liquidation of a company.

Insolvency law in the Isle of Man has failed to be reformed on different occasions in the last twenty years in spite of Government initiatives.

The difference of approach between the Privy Council and the Supreme Court may stem from the impoverished statutory framework for cross border co-operation in corporate insolvencies in certain jurisdictions, including the Isle of Man

In the recent case of Lombard Manx Limited v The Spirit of Montpelier Limited (CHP 2014/23), the principal question for the Isle of Man High Court (His Honour Deemster Doyle, the Island's Chief Justice) was whether the Court had jurisdiction at common law to rescind a winding-up order.