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Allison Thomas and Ricardo Swan (Petitioners) -v- Fort Knox Bermuda Ltd. and Troy Symonds and Shari Poe [2014] SC (Bda) 15 Com (26 February 2014)

February 2014 Insolvency Winding Up Liquidation

BERMUDA

SUPREME COURT

WINDING-UP - MINORITY OPPRESSION - SHAREHOLDER DISPUTES - S111 COMPANIES ACT, 1981

Minority oppression actions or shareholder disputes are relatively common in Bermuda but they rarely if ever go the full distance and end up in trial. In this case, the First Petitioner was a founder, shareholder, and former director of the First Respondent (the “Company”). In his capacity as a member of the Company he has issued a petition in which he applies for relief pursuant to Section 111 of the Companies Act, 1981 (the “1981 Act”). This was on the ground that the affairs of the Company are and have been conducted in a manner oppressive or prejudicial to his interests as a member.

The Company adopted a neutral position regarding the petition. However, the petition was opposed by the Second and Third Respondents, directors of the Company (in which they hold a majority of the shares).

 

To continue reading full articles in PDF format:
Allison Thomas and Ricardo Swan (Petitioners) -v- Fort Knox Bermuda Ltd. and Troy Symonds and Shari Poe [2014] SC (Bda) 15 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

Allison Thomas and Ricardo Swan (Petitioners) -v- Fort Knox Bermuda Ltd. and Troy Symonds and Shari Poe [2014] SC (Bda) 15 Com (26 February 2014)

18 February 2014

BERMUDA

SUPREME COURT

WINDING-UP - MINORITY OPPRESSION - SHAREHOLDER DISPUTES - S111 COMPANIES ACT, 1981

Minority oppression actions or shareholder disputes are relatively common in Bermuda but they rarely if ever go the full distance and end up in trial. In this case, the First Petitioner was a founder, shareholder, and former director of the First Respondent (the “Company”). In his capacity as a member of the Company he has issued a petition in which he applies for relief pursuant to Section 111 of the Companies Act, 1981 (the “1981 Act”). This was on the ground that the affairs of the Company are and have been conducted in a manner oppressive or prejudicial to his interests as a member.

The Company adopted a neutral position regarding the petition. However, the petition was opposed by the Second and Third Respondents, directors of the Company (in which they hold a majority of the shares).

 

To continue reading full articles in PDF format:
Allison Thomas and Ricardo Swan (Petitioners) -v- Fort Knox Bermuda Ltd. and Troy Symonds and Shari Poe [2014] SC (Bda) 15 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