Testing the Limits of Cross-Border Judicial Recognition
Article orginally published in National Insolvency Review, LexisNexis Canada Inc, September 2006
Excerpt from "Testing the Limits of Cross-Border Judicial Recognition: The Case of Foreign Solvent Schemes of Arrangement":
Canadian courts have long been willing to recognize and give assistance to foreign proceedings and judgments where various recognition criteria are met. These criteria have evolved and expanded over time, reflecting the expansion of global commerce and cross-border transactions. The primary focus of the current test for recognition is whether the foreign proceeding bears a real and substantial connection to the action. The evolution of recognition criteria has in recent years included statutory jurisdiction to recognize certain foreign insolvency proceedings.