Directors of companies that trade overseas, and directors of subsidiaries of overseas companies, may have duties imposed upon them by foreign law and be subject to the jurisdiction of foreign courts, especially where the companies are approaching insolvency.
Legal advisers have to be aware of the potential for those liabilities to arise and have to develop an understanding of how different legal systems operate.
Mr Stewart Maiden QC and Dr Neil Hannan are explaining these issues, with examples, at a seminar in Melbourne on 30 July 2018 at 5.15pm. Details are on the website of the Commercial Bar Association of Victoria. The seminar is open to barristers, solicitors, in-house counsel and insolvency practitioners, as well as those from the business and director community.
The seminar is presented by the Commercial Bar Association (Insolvency Section) in conjunction with the UNCITRAL Coordination Committee for Australia (UNCCA).
UNCCA is an organisation comprising members of the Australian legal community who are dedicated to promoting the work of UNCITRAL in Australia. Its chair is the Hon Justice Neil McKerracher of the Federal Court of Australia.
UNCITRAL has a number of working groups examining particular issues in relation to cross—border trade, one of which is Working Group V – Insolvency. UNCCA has set up an Expert Advisory Committee to monitor the activities of WGV, comprising Stewart Maiden, Neil Hannan, Vicki Bell, John Martin, and Professor Rosalind Mason, chaired by Michael Murray. Details of the various activities of WGV are on the UNCCA website.
The most recent and significant news from UNCITRAL is a draft guide to enactment of a model law on the recognition and enforcement of insolvency related judgments, presently under consideration. More on that soon.