A successful party to a buy-out order made in the course of unfair prejudice proceedings can find themselves in a difficult position, at the hands of an uncooperative respondent. Commonly, the Court will try liability and...more
5/14/2024
/ Appeals ,
British Virgin Islands ,
Buy-Out Agreements ,
Commercial Litigation ,
Controlling Stockholders ,
Corporate Governance ,
Dismissals ,
Dispute Resolution ,
Non-Disclosure Agreement ,
Shareholders ,
Unfair Prejudice
In a recent judgment, which was heavily critical of the claimant bank, the BVI Commercial Court has set aside an order obtained ex parte permitting service on non-BVI resident defendants of a fraud claim out of the...more
3/8/2024
/ British Virgin Islands ,
BVI Business Companies ,
Commercial Court ,
Commercial Litigation ,
Court-Appointed Receivers ,
Ex Parte ,
Fraud ,
Insolvency ,
Judicial Proceedings ,
Jurisdiction ,
Receivership
The Court of Appeal has given valuable and clear guidance on the circumstances in which applications during an ongoing liquidation may constitute ‘final decisions’ for the purpose of bringing appeals to His Majesty in Council...more
The general doctrine of ‘illegality’, in commercial litigation, is based on two related principles:
• Firstly, that no person should benefit from his or her own illegal act or wrong; and
• Secondly, that the law (and the...more