“…The courts have considered the territorial reach of section 423 on a number of occasions. It was first considered by this court in Re Paramount Airways Ltd [1993] Ch 223 together with similar provisions in section 238 of the Act. Having summarised the legislation Sir Donald Nicholls V-C said at 235:…”
“…“It is clear that section 423 may be given extra-territorial effect: see re Paramount Airways Limited (No.2) [1993] Ch 223, where service out of the jurisdiction had been effected pursuant to the provisions for service in the Insolvency Rules 1986, and re Banco Nacional de Cuba [20…”