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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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