Blog

This case highlights the compatibility between the adjudication regime for building disputes and insolvency set-off. Bresco and Lonsdale are electrical contractors; both claimed that they were owed money by the other. In 2016, Bresco entered into insolvent liquidation and Bresco’s liquidators sought to refer the company’s claim for £219,000 against Lonsdale in unpaid fees and damages for lost profits to adjudication.

In the recent decision of Duet Real Estate Partners 1 LP the Grand Court wound up an exempted limited partnership (Fund) pursuant to section 92(c) of the Companies Law. This appears to be the first decision in the Cayman Islands which considers the application of section 92(c) (expiry of term) to exempted limited partnerships and which provides extensive jurisdictional guidance on section 92(c).

In a judgment delivered on 15 June 2020, in the case of A Foreign Representative in Foreign Insolvency Proceedings v Five Registered Agents in which Harneys acted for the successful applicant, Justice Jack confirmed that the BVI High Court has the power to grant Norwich Pharmacal orders (ie third party disclosure orders) in support of actual or intended foreign proceedings. The power is not affected by the Court of Appeal’s recent decision in the Broad Idea v Convoy Collateral (No.2), which determined that the BVI High Court does not have the power to grant freezing injunctions and other interim relief in support of foreign proceedings (known as Black Swan relief in BVI).

In this episode, Paula Kay joins Ian Mann to discuss privatisation, the process by which a company transfers from public to private ownership and control.

In the case of Standing v Power before Deputy Judge Michael Green QC, the applicant was refused fortification of a cross-undertaking in damages viz. an injunction preventing a sale of Swindon Town FC’s shares or assets.

The recent judgment of Mr Justice Harris in In Re China Oil Gangran Energy Group Holdings Limited (In Provisional Liquidation) recognising the appointment of “light touch” provisional liquidators in the Cayman Islands, is the latest in the growing body of Hong Kong jurisprudence confirming the willingness of the Hong Kong Court to recognise the appointment of foreign provisional liquidators for restructuring purposes, despite the fact that Hong Kong has no legislation that provides for such a restructuring.