Rubin v Eurofinance SA; New Cap v A E Grant and others as
Members of Lloyd's Syndicate 991 for the 1997 Year of Account
[2012] UKSC 46
Background
Although not on appeal from an Isle of Man court, the Supreme
Court in these two cases dealt with principles very relevant to
Manx lawyers.
The Rubin case is of interest in two practical respects
and also academically. To reach the aspects of practical interest
(which are expressed in the Conclusions section below), one must
first explain the academic aspects. Rubin relates to the
enforcement in England under common law of judgments of foreign
courts which adjust or set aside prior transactions in relation to
an insolvent person (for example preferences or transactions at an
undervalue) ("avoidance proceedings").
Although a decision of the UK Supreme Court the judgments are
distinctly Manx, Simcocks having acted in the two main authorities
considered by the Supreme Court, and a third Manx decision having
also been
