Blog

In the 19 November 2020 Hong Kong decision of Re China Huiyan Juice Group Ltd [2020] HKCFI 2940, Mr Justice Harris highlights the difficulties associated with attempting to wind up a foreign (in this case, Cayman Islands) company in the Hong Kong Court rather than in the jurisdiction of the company’s incorporation.

In Sun Cheong Creative Development Holdings, the Cayman Islands Court appointed "light touch" restructuring provisional liquidators to the company despite there being competing winding up proceedings against the company in Hong Kong.

The Delaware Supreme Court has delivered the latest of a series of recent appraisal decisions concerning the determination of fair value under 8 Del. C. § 262(a): Brigade Leveraged Capital Structures Fund and Brigade Distressed Value Master Fund Ltd v Stillwater Mining Co. ​

In a recent Privy Council decision, the Board allowed the appeal and restored Justice Wallbank’s order to wind up Ocean Sino Ltd, a BVI company in which the appellant, Mr Lau, and the respondent, Mr Chu, each owned one of the two issued shares. Mr Lau sought the winding up on the grounds of a functional deadlock and irretrievable breakdown of trust and confidence.

In the recent decision of Iranian Offshore Engineering v Zavarei the High Court of England and Wales was concerned with a complex international fraud.

In May 2020 the Court of Appeal of the Eastern Caribbean Supreme Court ruled that the Court lacked jurisdiction to grant freestanding injunctive relief, overturning the 10 year old Black Swan decision, and thereby removing a powerful weapon from the armoury of BVI litigants.