About the Offshore Litigation Blog and our contributors
The Harneys Offshore Litigation Blog was launched in 2016 and is a one-of-a-kind online resource for news and information about offshore litigation in jurisdictions including the BVI and the Cayman Islands. You will find recent case updates, offshore litigation news, interviews, and even some insights into island life, written by Harneys litigators from around the world.
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Missed understanding: BVI Court holds directors in breach of their duty to act for a proper purpose
On 17 January 2022, the BVI Commercial Court handed down judgment in Green Elite (In liquidation) v Fang Ankong et al, in which a claim for breach of directors’ duties was brought by the liquidators of Green Elite against the former directors of that company. The Court held that the directors breached the requirement under section 121 of the BVI BCA to carry out their duties for a proper purpose with the result that they were liable in restitution for certain sale proceeds received by them.
08 Feb 2022