In a recent decision of the BVI Commercial Court, the Honourable Mr Justice Wallbank dismissed an application by the Defendants in King Bun Limited & Ors v Lau Man Sang James & Ors to set aside a previous order granting...more
In Ho Kwok Leung Glen, Hau Kai Ling and Ge Jun v Nan Hai Corporation Limited [2024] SC (Bda) 2 Civ, 31 January 2024, the Supreme Court of Bermuda (the “Court”) rejected the Plaintiffs’ application for a declaration that seven...more
Nov 2023 In August 2021, the BVI Commercial Court handed down judgment on liability in favour of the Claimants against seven directors of Vanway for carrying out a fraud on the minority shareholders, in selling the assets of...more
12/8/2023
/ Board of Directors ,
Breach of Duty ,
British Virgin Islands ,
BVI Business Companies ,
Corporate Governance ,
Corporate Liability ,
Dispute Resolution ,
Fiduciary Duty ,
Final Judgment ,
Fraud ,
Hong Kong ,
Minority Shareholders ,
Settlement
In the case of Re China Properties Group Limited (in Liquidation) [2023] HKCFI 2346, the Hong Kong Court has shown its commitment to providing assistance to local liquidators appointed by it by asserting in personam...more
11/10/2023
/ Board of Directors ,
Business Disputes ,
Business Litigation ,
BVI Business Companies ,
Cayman Islands ,
China ,
Corporate Governance ,
Dispute Resolution ,
Hong Kong ,
In-Personam ,
Insolvency ,
Liquidation
On 20 September 2023, the Privy Council delivered the much-anticipated judgment in FamilyMart China Holding Co Ltd v Ting Chuan (Cayman Islands) Holding Corporation [2023] UKPC 33, on appeal from the Cayman Islands Court of...more
In a recent judgment Re Cradle Holdings Inc. (FSD 318 of 2022, unreported, 4 September 2023), the Chief Justice of the Cayman Islands ruled on the novel issue as to whether and by what route a company which has been...more
10/18/2023
/ BVI Business Companies ,
Cayman Islands ,
Commercial Litigation ,
Companies Act ,
Corporate Restructuring ,
Dispute Resolution ,
Hong Kong ,
Insolvency ,
Legislative Agendas ,
Regulatory Requirements ,
Unregistered Franchises
On 7 July 2023, the Eastern Caribbean Court of Appeal handed down judgment in BVIHCMAP 2021/0034 Lau Man Sang, James and Others v. King Bun Limited and Others. Conyers represented the successful Respondents before the Court...more
9/7/2023
/ Appeals ,
Board of Directors ,
Breach of Duty ,
British Virgin Islands ,
Business Companies Act ,
BVI Business Companies ,
Commercial Court ,
Corporate Governance ,
Corporate Restructuring ,
Duty of Care ,
Fiduciary Duty ,
Shareholder Litigation
The Quincecare duty has become a popular tool for companies (or their liquidators) to claim against banks for funds misappropriated on wrongful payment instructions. It requires a bank to refrain from executing a payment...more
5/5/2023
/ Appeals ,
Banking Sector ,
Beneficial Owner ,
Commercial Litigation ,
Contributory Negligence ,
Dispute Resolution ,
Foreign Bank Accounts ,
Hong Kong ,
Liquidation ,
Misappropriation ,
Time-Barred Claims ,
UK Privy Council ,
UK Supreme Court
Due to the recent challenging economic environment, the law’s treatment of creditors’ interests in a restructuring or insolvency has been a hot topic. From a creditor’s perspective, its objective will be straightforward: to...more
11/9/2022
/ Appeals ,
BVI Business Companies ,
Cayman Islands ,
Corporate Restructuring ,
Creditors ,
Debtors ,
HSBC ,
Insolvency ,
Liquidation ,
Shareholders ,
UK ,
UK Companies Acts ,
UK Supreme Court
With a marked increase in large-scale cross-border insolvency and restructuring proceedings in the Cayman Islands and elsewhere, there is a greater focus on principles of comity and co-operation between courts and...more
11/8/2022
/ Australia ,
Cayman Islands ,
Companies Act ,
Cross-Border ,
Hong Kong ,
Insolvency ,
Jurisdiction ,
New Zealand ,
Remote Hearings ,
Restructuring ,
UNCITRAL
On 24 June 2022, the Honourable Mr Justice Harris (of the High Court of Hong Kong Special Administrative Region) granted assistance to Cayman Islands appointed Joint Provisional Liquidators (the “JPLs”) of Seahawk China...more
7/29/2022
/ Business Assets ,
Business Litigation ,
Cayman Islands ,
Cross-Border ,
Hong Kong ,
Insolvency ,
Investment Funds ,
Jurisdiction ,
Liquidation ,
Shareholder Resolution ,
Shareholders
In the recent judgment In the Matter of GTI Holdings Limited delivered on 15 March 2022 , the Cayman Islands Grand Court reiterated the importance of principles of comity in cross-border insolvency matters and the central...more
In the recent decision of Evergreen International Holdings Limited, delivered on 11 January 2022, the Grand Court of the Cayman Islands made an order for the immediate winding up of a company notwithstanding the company’s...more
2/24/2022
/ Amended Legislation ,
Business Litigation ,
Cayman Islands ,
Companies Act ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Dismissals ,
Hong Kong ,
Provisional Measures ,
Rational Basis Test ,
Winding Up Petitions
Conyers were instructed by Silver Base Group Holdings Limited (“Silver Base”) in relation to a successful application for the appointment of “light-touch” provisional liquidators for restructuring purposes before the Grand...more
Conyers represented the successful claimants in Claim No. BVIHCM 2017/086 King Bun Limited and Others v. Lau Man Sang, James and Others, a derivative action commenced by minority shareholders concerning disputes about...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
On 1 June 2021, the Eastern Caribbean Court of Appeal handed down its decision in the matter of Yao Juan v. Kwok Kin Kwok and Crown Treasure Group Limited which was an appeal of the 23 April 2020 decision of the Hon Justice...more