South Square Acts on Landmark Cross-Border Insolvency Protocol for La Perla

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Matthew Abraham and Imogen Beltrami have advised and acted for the UK liquidators of luxury clothing brand La Perla on a unique and pioneering cross-border insolvency transaction involving parallel insolvency proceedings commenced in both the UK and Italy.

 

The matter involved the navigation of complex jurisdictional questions ultimately resulting in the implementation of a bespoke protocol approved by the English Court facilitating a coordinated joint sale process. The negotiation of the cross-border insolvency protocol required coordination with Italian counsel and office holders as well as both the English and Italian courts and is the first of its kind following Brexit. The success of the protocol will likely be precedent setting for court-to-court cooperation in multi-jurisdictional insolvency cases going forward.

 

Matthew Abraham and Imogen Beltrami advised Quantuma instructed by Shoosmiths (led by Lee Sennett).

Further information can be found here.

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