MCGRATH v RIDDELL

[2008] Lloyd's Rep IR 756

HOUSE OF LORDS

Before Lord Hoffmann, Lord Phillips of Worth Matravers, Lord Scott of Foscote, Lord Walker of Gestingthorpe and Lord Neuberger of Abbotsbury

Insolvency - Conflict of laws - Jurisdiction - Cross-border insolvency - Choice of law - Foreign insurance company in insolvent liquidation in Australia and auxiliary liquidation in the UK - Australian liquidators requested the transfer of UK assets to Australia to be distributed in accordance with Australian insolvency law - Whether court had power to direct the remission of the UK assets to Australia - Whether such power based on inherent common law jurisdiction or statute - Whether that power should be exercised in the present case - Whether to permit application of Australian insolvency regime to assets - Insolvency Act 1986, section 426(4) and (5).