{"id":36497,"date":"2025-04-14T09:10:47","date_gmt":"2025-04-14T09:10:47","guid":{"rendered":"https:\/\/www.cdr-news.com\/?p=36497"},"modified":"2025-04-16T08:43:23","modified_gmt":"2025-04-16T08:43:23","slug":"can-a-foreign-judgment-form-the-basis-of-insolvency-proceedings","status":"publish","type":"post","link":"https:\/\/www.cdr-news.com\/categories\/expert-views\/can-a-foreign-judgment-form-the-basis-of-insolvency-proceedings\/","title":{"rendered":"Can a foreign judgment form the basis of insolvency proceedings?\u00a0"},"content":{"rendered":"\n

Conyers associate Aaron Mayers discusses the impact of Servis-Terminal v Drelle <\/em>on BVI Law and the questions it has raised.<\/strong><\/p>\n\n\n\n

The recent English Court of Appeal decision in Servis-Terminal v Drelle <\/em>[2025] EWCA Civ 62 (Drelle<\/em>) has raised questions in offshore English common-law jurisdictions about the role of foreign judgments in insolvency proceedings. The ruling affirmed that, at least in England, an unrecognised foreign judgment cannot, on its own, found a bankruptcy petition.<\/p>\n\n\n\n

But does this decision alter the position in the British Virgin Islands (BVI)? And how does it compare with the approach taken in cases like Grand Pacific Holdings v Pacific China Holdings <\/em>BVIHCV 2009\/389 (Pacific China<\/em>), in which the BVI Commercial Court examined whether an arbitral award could justify a winding up petition?<\/p>\n\n\n\n

This article explores the decision in Drelle<\/em>,the BVI’s test for a “substantial dispute” and how it compares to England, whether a judgment needs to be capable of recognition and enforcement before forming the basis of a winding-up or bankruptcy petition, and a comparison of the positions regarding the recognition and enforcement of foreign judgments in England vs the BVI.<\/p>\n\n\n\n

SERVIS-TERMINAL V DRELLE: A BRIEF SUMMARY<\/strong><\/h3>\n\n\n\n

At the heart of Drelle <\/em>was a simple but far-reaching issue: can a foreign judgment that has not been recognised in England form the basis of a bankruptcy petition?<\/p>\n\n\n\n

By way of a brief summary:  Servis-Terminal obtained a Russian court judgment against Mr Valeriy Drelle for approximately RUB 2 billion. The judgment was final in Russia, but it had not been recognised or enforced in England. Servis-Terminal subsequently issued a statutory demand and presented a bankruptcy petition, relying solely on the Russian judgment, but  the English Court of Appeal ruled that, because the judgment had not been recognised, it could not form the basis of a bankruptcy petition under English law.<\/p>\n\n\n\n

The decision was driven by the principle that a foreign judgment has no direct operation in England unless recognised through a common law action or a statutory framework (reference was made to Dicey, Morris & Collins<\/em>, Rule 45). The Court also considered that insolvency proceedings are a form of enforcement, and therefore, an unrecognised foreign judgment cannot be used as a \u201csword\u201d: \u201cA judgment of a court of a foreign country [\u2026] has no direct operation in England but may (1) be enforceable by claim or counterclaim at common law or under statute, or (2) be recognised as a defence to a claim or as conclusive of an issue in a claim,” (Dicey, Morris & Collins<\/em>, Rule 45). \u201cA foreign judgment has no legal effect in England unless and until recognised through the appropriate legal mechanism.\u201d (Drelle<\/em>, para. 39)<\/p>\n\n\n\n

DOES DRELLE CHANGE ANYTHING FOR BVI LAW?<\/strong><\/h3>\n\n\n\n

At first glance, Drelle <\/em>and cases in the Pacific China <\/em>line of authority appear to address different issues: the former concerns a foreign court judgment, the latter concerns an arbitral award. However, the core legal question is similar: can an obligation arising outside the jurisdiction be used to trigger insolvency proceedings before it is enforceable?<\/p>\n\n\n\n

In Pacific China<\/em>, the BVI Commercial Court ruled that an arbitral award could not found a winding-up petition if its enforcement was subject to substantial challenge. The reasoning stemmed, in part, from analysis of the BVI Insolvency Act 2003, which requires a petitioning creditor to establish that the debt is enforceable in the BVI (s.10(3)), and defines a creditor in terms of an enforceable obligation (s.9).<\/p>\n\n\n\n

Thus, in the BVI, enforceability is a statutory precondition for liquidation. This is not inconsistent with the reasoning in Drelle<\/em>, where recognition was a necessary precursor to enforcement in England. \u201cThe holder of an unenforceable arbitral award is not, therefore, a creditor for the purposes of the Act: sub-section 9(1). It follows that under the scheme of the Act itself a dispute about enforceability involves a dispute about whether the Applicant is a creditor,\u201d (Pacific China<\/em>, para 6).<\/p>\n\n\n\n

But it seems the two courts were looking at the question of enforceability from two different ends of the telescope. In England, and as demonstrated in Drelle<\/em>, the Court focused on the principle that an unrecognised foreign judgment is not yet a debt in the eyes of English law. Because it could not be enforced, there was no need to analyse whether the underlying debt was genuinely disputed. \u201cIf the fact that the foreign judgment has not been recognised means that, in the eyes of English law, there is no debt which can be pursued, that surely means that there is no debt in respect of which a statutory demand can properly be served,\u201d (Drelle<\/em>, para 47).<\/p>\n\n\n\n

In the BVI, and as demonstrated in Pacific China<\/em>, the Court accepted that an arbitral award could, in principle, found a winding-up petition. However, if there was a substantial dispute as to whether it was enforceable, it is possible that liquidation would not be appropriate. \u201cIf such a dispute is substantial (in the sense of being other than flimsy) the Court should not appoint liquidators and leave the Applicant to establish enforceability in an application brought for that purpose\u2019\u201d (Pacific China<\/em>, para 7).<\/p>\n\n\n\n

In Drelle<\/em>, although the creditor\u2019s judgment could in theory be recognised and enforced, at the time of the decision, it had not in fact been recognised or enforced. Therefore, the threshold for \u2018enforceable\u2019 was not met. Whereas in Pacific China<\/em>, although the creditor had \u201cnot taken steps to convert the award into a judgment nor [had] it taken any other steps by way of enforcement\u201d, the Court embarked on a preliminary look at whether, if the arbitration award had been pursued, there would be a substantial challenge to it. Put simply, in the BVI, the Court waded into a preliminary analysis of the merits of enforcement, rather than simply determining whether enforcement was possible at that moment.<\/p>\n\n\n\n

This means that the threshold for what constitutes a \u2018substantial dispute\u2019, and in particular whether the debt was enforceable, was considered differently in each case. <\/p>\n\n\n\n

It is also worth noting that the decision in Pacific China <\/em>is not the first of its kind: in the Court of Appeal case of Vendort Traders v Evrostroy Grupp <\/em>BVIHCVAP2012\/0041 (\u201cVendort<\/em>\u201d), the Court found (at paras 13-16) that: (I) an arbitration award does not need to be enforced before forming the basis of a statutory demand; () there is no statutory requirement that an award must be converted into a BVI judgment before it can trigger insolvency proceedings; and a winding-up petition is not an enforcement mechanism but rather a determination of insolvency.<\/p>\n\n\n\n

This also aligns with the older English Court of Appeal case of Re International Tin Council [1989] Ch. 309<\/em> in which it was affirmed that a winding-up petition is not a method of enforcing a judgment or an arbitration award.<\/p>\n\n\n\n

However, as the decision in Drelle <\/em>appears to have been formulated without analysis of Re International Tin Council<\/em>, Pacific China <\/em>or Vendort<\/em>, we cannot be certain about why a different approach was taken in Drelle<\/em>, and whether this trend will continue.<\/p>\n\n\n\n

RECOGNITION VERSUS ENFORCEMENT: DOES A JUDGMENT NEED BOTH?<\/strong><\/h3>\n\n\n\n

 <\/strong>A critical issue is whether a foreign judgment must be both recognised and enforceable to form the basis of an insolvency petition. Both Drelle <\/em>and Pacific China <\/em>appear to suggest that recognition alone is insufficient \u2013 enforcement is the key hurdle.<\/p>\n\n\n\n

The process for recognising and enforcing foreign judgments differs between England and the BVI: in  England, common law requires a fresh action on the judgment debt unless statutory enforcement mechanisms apply (e.g., Administration of Justice Act 1920, Foreign Judgments (Reciprocal Enforcement) Act 1933); in the BVI, recognition typically follows statutory procedures under the Reciprocal Enforcement of Judgments Act 1922 (for certain Commonwealth countries), or enforcement at common law requiring a new action.<\/p>\n\n\n\n

These differences mean that creditors should consider the litigation risks when choosing whether to initiate insolvency proceedings in England or the BVI. A judgment from a country not covered by reciprocal legislative arrangements will generally be harder to recognise, and therefore enforce, in either jurisdiction.<\/p>\n\n\n\n

ARE WE AWAITING A TEST CASE IN THE BVI?  <\/strong><\/h3>\n\n\n\n

While the reasoning in Drelle <\/em>could be persuasive authority in the BVI, the precise question it decided has not yet been litigated in the BVI Courts with consideration of the decision in Drelle <\/em>itself. Given the BVI\u2019s heavy reliance on English common law principles, it is possible that a BVI Court may find the Drelle <\/em>approach highly persuasive, particularly in cases involving court judgments rather than arbitral awards. However, there are still key distinctions between the two jurisdictions which may factor into the applicability of Drelle<\/em>.<\/p>\n\n\n\n

Thus, while Drelle <\/em>could suggest that an unrecognised foreign judgment cannot found insolvency proceedings in the BVI, until a case directly raises this issue and rehearses the arguments in Drelle <\/em>\u2013 and perhaps the analysis in Re International Tin Council<\/em>, Pacific China <\/em>or Vendort <\/em>\u2013 the position remains open to argument. It also remains to be seen if the English Court of Appeal decision will be appealed.<\/p>\n\n\n\n

WHAT WILL LIKELY COME INTO CONFLICT?<\/strong><\/h3>\n\n\n\n

A possible tension arises when comparing the BVI\u2019s approach to arbitration awards with the (new) English treatment of foreign court judgments. The BVI Commercial Court, in Pacific China<\/em>, was willing to consider whether an arbitral award was likely to be enforceable, rather than taking a rigid approach that required prior recognition. If a case similar to Drelle <\/em>were to arise in the BVI, the Courts would need to determine whether the same reasoning applies to court judgments as to arbitral awards, whether the requirement for enforceability in the Insolvency Act 2003 should be read narrowly or broadly, and whether creditors should first be required to obtain recognition before seeking insolvency relief.<\/p>\n\n\n\n

It is possible that the BVI Courts will follow Drelle <\/em>for consistency with English common law principles, particularly given the statutory emphasis on enforceability under the BVI Insolvency Act. However, the statutory and procedural mechanisms in the BVI may allow for more flexibility than the English system.<\/p>\n\n\n\n

In conclusion, the upshot for insolvency creditors is this: if you wish to use a foreign judgment in insolvency proceedings, ensure it is first recognised and enforceable. But whilst Drelle <\/em>could be influential in the BVI, the question of whether an unrecognised foreign judgment can found an insolvency petition remains unsettled until a test case arises.<\/p>\n\n\n\n

Aaron Mayers is a litigation associate in the BVI office of Conyers. <\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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