Court Petitions and Orders: Cross-border Insolvencies

-0.08704351.519540EC2M 2WGThe London Borough of Islington2010-03-312010-12-15TSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk1266744

THE CROSS BORDER INSOLVENCY REGULATIONS 2006

NOTIFICATION OF ORDER UNDER THE CROSS-BORDER INSOLVENCY REGULATIONS 2006

In the High Court of Justice (Chancery Division)

Companies Court No 2154 of 2010

GLENALLA PROPERTIES LIMITED

(Company Number 1002995 )

The Debtor does not carry on business within Great Britain.

Address of debtor: Palm Grove House, P.O. Box 438, Road Town, Tortola, British Virgin Islands

The following order has been made in relation to the above debtor under the Cross Border Insolvency Regulations 2006 that the voluntary liquidation of the Debtor under Legislation section: Section 159(2) of the Legislation: British Virgin Islands Insolvency Act 2003 be recognised as a foreign main proceeding in accordance with the UNCITRAL Model Law on cross-border insolvency as set out in Schedule 1 to the Cross-Border Insolvency Regulations 2006.

THAT, for the avoidance of doubt, the stay and suspension under Article 20 of the Model Law shall not affect or inhibit in any way the rights of the applicant to transfer, encumber or otherwise dispose of or deal with any of its assets in the UK.

AND that there be no order as to costs.

Order made on 31 March 2010

Weil, Gotshal & Manges, One South Place, London, EC2M 2WG (Ref: DMC/JD. 56012.0004)