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Offshore Litigation Blog

Newspaper rolled up as a megaphone

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Judgment handed down in ChainSwap v Persons Unknown: the first BVI freezing order against persons unknown concerning crypto fraud
The BVI Commercial Court has today (4 May 2022) handed down its judgment in ChainSwap v Persons Unknown.
BVI Commercial Court freezes assets held by unknown hackers in support of crypto tracing claim
By order made on 15 March 2022 in ChainSwap v Persons Unknown, the BVI Commercial Court has continued a worldwide freezing order against unknown hackers, who exploited the applicant’s software and used it to steal large quantities of cryptocurrency tokens from private users and projects.
Grand Court rejects notion of “hybrid” orders and emphasises the finality principle
In the long-running case of ArcelorMittal v Essar Global Fund Ltd & Anor the Grand Court has dismissed the Defendants’ application to set aside the Norwich Pharmacal order (NPO) made in 2019. The Defendants, having unsuccessfully challenged the NPO at first instance and on appeal, sought to set it aside on the grounds that subsequent commencement of a conspiracy claim in England and an avoidance action in New York, amounted to a material change of circumstance that rendered the NPO unnecessary.
Access to data: A beneficiary’s privilege
In a judgment dated 11 March 2020 in the Dawson-Damer v Taylor Wessing litigation, the Court of Appeal confirmed that legal advice obtained for the benefit of a trust cannot be withheld from a beneficiary where it is responsive to that beneficiary’s subject access request (SAR) under the UK Data Protection Act (DPA).
Cayman Islands Court of Appeal hands down leading decision on Norwich Pharmacal order in Cayman and refuses permission to appeal to the Privy Council
The Essar group has had a set-back in the continuing disclosure action by commercial rival, ArcelorMittal, in connection with an unpaid arbitral award now well in excess of US$1.5 billion.
Privy Council analyses the validity of family trusts
In the recent decision of Webb v Webb [2020] EWHC 22, on appeal from the Court of Appeal of the Cook Islands, the Privy Council (the Board) examined, among other issues, the invalidity of two trusts on the ground that the settlor had failed to establish a sufficient alienation of assets into the trust, having regard to the retention of the associated rights and powers which proved synonymous with ownership. The appeal arose in relation to a dispute over the division of matrimonial assets.
The value of finality: BVI Court deals robustly with attempt to introduce evidence after judgment
Further to our first blog on the decision in Great Panorama (see here), we now turn to consider the Court’s treatment of certain pieces of evidence that were relied upon at the recent hearing in that case.
BVI Commercial Court applies Chabra relief liberally in the wake of Broad Idea (No.2)
In Great Panorama International Ltd v Qin Hui & Ors, the BVI Court continued a freezing injunction made against BVI non-cause of action defendants associated with a foreign judgment debtor. In doing so the Court issued a judgment covering a wide-range of issues that will be of interest to those seeking to enforce debts against and preserve the assets of BVI companies. In this blog we consider the court’s pronouncements regarding its jurisdiction to grant Chabra relief and the extent of the applicant’s duty to give full and frank disclosure. In the sequel to this blog we will consider the Court’s treatment of findings made by another court that was relied upon as evidence and the Court’s response to an attempt to introduce evidence post order/judgment.
Let me be frank: important principles for urgent injunctions and material non-disclosure clarified in the EC COA Paraskevaides decision
In our second blog regarding the landmark decision of the Court of Appeal in Paraskevaides (see our first blog here), we consider the principles applicable to urgent applications for injunctive relief, including the ability to serve out applications prior to there being an underlying claim and the scope of an applicant’s duty to give full and frank disclosure.
A man must be able to consult his lawyer in confidence
Lord Justice Males of the English Court of Appeal delivered a unanimous decision following an appeal brought by Raiffeisen Bank International AG (Raiffeisen) v Ashurst LLP (Ashurst) and another.
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