Determining GBP-Foreign Currency Exchange Rates Under the Insolvency Rules
Posted: 3 Jan 2010 Last revised: 16 Nov 2012
Date Written: December 31, 2009
Abstract
This paper considers a recent judgment in the High Court Chancery Division, which clarified how GBP-foreign currency exchange rates were to be determined by the administrators of a firm under the Insolvency Rules. This judgment provides a robust and practical precedent for other cases of administration, liquidation or bankruptcy falling under the Insolvency Rules where foreign currency denominated assets and liabilities are involved.
Keywords: exchange rate, insolvency, Insolvency Rules, administration, insolvency, administration
JEL Classification: E43, F31, F34, K22
Suggested Citation: Suggested Citation
Macey-Dare, Rupert, Determining GBP-Foreign Currency Exchange Rates Under the Insolvency Rules (December 31, 2009). Available at SSRN: https://ssrn.com/abstract=1530406
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