This column discusses a rule under English common law that applies in the context of cross-border insolvency proceedings: the so-called immovables rule. Cross-border insolvency occurs when a company or individual enters insolvency or bankruptcy proceedings in one jurisdiction and the has assets and creditors in another jurisdiction (for a previous discussion about cross-border insolvency, see China Business Law Journal, volume 8, issue 8: Cross-border insolvency).
In particular, the column discusses a recent appeal decision of the Supreme Court of the UK in Kireeva v Bedzhamov [2024]. Relevant rules in the Chinese mainland in relation to cross-border insolvency are then identified.
The Kireeva decision
Kireeva…