Re Dalnyaya Step LLC (in liquidation); Cherkasov and others v Nogotkov (Official Receiver of Dalnyaya Step LLC (in liquidation))

Insolvency – Cross-border insolvency. The proceedings concerned a high-profile cross-border insolvency of a Russian company. The Chancery Division set aside a recognition order that had been granted to the respondent, who had been appointed by a Russian court as the official receiver of the company, where he had breached his duty of full and frank disclosure when applying for the order. The court so ruled further to its finding that there was a public interest in determining the disclosure issue, notwithstanding that the parties had agreed on most of the issues concerning the outcome of the litigation.

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