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Agrenco Limited (“Argenco”) -v- Credit Suisse Brazil (Bahamas) Limited (“Credit Suisse”) [2014] SC (Bda) 24 Com (26 February 2014)

April 2014 Injunctions

BERMUDA

SUPREME COURT

INTERIM INJUNCTION TO PREVENT PRESENTATION OF PETITION - ABILITY TO SET ASIDE INTERIM INJUNCTION - CROSS CLAIM BY COMPANY EQUIVALENT TO PETITIONER’S DEBT

This case concerned an application by Credit Suisse to set aside an interim injunction which restrained it from presenting a petition to wind up Argenco. The Court noted that following the grant of the injunction there had been two material changes: (1) Argenco had conceded that the existence of the debt upon which the Statutory Demand was based was not disputed; and (2) Argenco was no longer in a position to assert that it was solvent on a balance sheet basis.

 

To continue reading full articles in PDF format:
Agrenco Limited (“Argenco”) -v- Credit Suisse Brazil (Bahamas) Limited (“Credit Suisse”) [2014] SC (Bda) 24 Com (26 February 2014)

 

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EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel: +1 441 298 7814
Email: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel: +1 284 852 1113
Email: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel: +1 345 814 7777
Email: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, QC
Tel: +852 2842 9553
Email: nigel.meeson@conyersdill.com

Offshore Cases

Agrenco Limited (“Argenco”) -v- Credit Suisse Brazil (Bahamas) Limited (“Credit Suisse”) [2014] SC (Bda) 24 Com (26 February 2014)

18 April 2014

BERMUDA

SUPREME COURT

INTERIM INJUNCTION TO PREVENT PRESENTATION OF PETITION - ABILITY TO SET ASIDE INTERIM INJUNCTION - CROSS CLAIM BY COMPANY EQUIVALENT TO PETITIONER’S DEBT

This case concerned an application by Credit Suisse to set aside an interim injunction which restrained it from presenting a petition to wind up Argenco. The Court noted that following the grant of the injunction there had been two material changes: (1) Argenco had conceded that the existence of the debt upon which the Statutory Demand was based was not disputed; and (2) Argenco was no longer in a position to assert that it was solvent on a balance sheet basis.

 

To continue reading full articles in PDF format:
Agrenco Limited (“Argenco”) -v- Credit Suisse Brazil (Bahamas) Limited (“Credit Suisse”) [2014] SC (Bda) 24 Com (26 February 2014)

 

 

EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel.: +1 441 298 7814
Email.: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel.: +1 284 852 1113
Email.: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel.: +1 345 814 7777
Email.: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, Q.C.
Tel.: +852 2842 9553
Email.: nigel.meeson@conyersdill.com