Furthermore Mr. Conti maintained that the effect of the Agreement was that the Trustees were to take no further part in the Manx proceedings but there was nothing to stop Mr. Holmaranta proceeding in his own name on this Petition. He submitted that Mr. Holmaranta had been misled and this is evidenced by Mr. Holmaranta's complaint to the Chief Inspector of Bankruptcy in Finland in January 1998. The Minutes of that meeting have been produced; they are clearly incomplete, parts of them have been translated into English, others have not. But in my opinion the latter part of the Minutes which have been translated, largely reflect Mr. Holmaranta's own opinions of his position. He may well have thought that he could carry on with the Manx proceedings but if he did think that he was clearly under a serious misapprehension. I reject Mr. Conti's submissions for the reason that this Court will not be concerned with the supervisory procedures under Finnish Bankruptcy Law of Trustees in bankruptcy. Any complaint Mr. Holmaranta has regarding the conduct of the Trustees in bankruptcy should be directed either to those Trustees or to the Finnish Court. It is sufficient for this Court to recognise the Trustees in bankruptcy, and having been informed by the Trustees that this Petition has been compromised in Finland under the bankruptcy law of that country, and that this is binding on Mr. Holmaranta, to accept that position. I do so and I declare that Mr. Holmaranta has no locus standi in this Court.

SEAL OF THE HIGH COURT