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Andriy Malitskiy and Igor Filipenko -v- Oledo Petroleum Limited and Oledo Petroleum Limited v Andriy Grigoryevych Adamovsky and Stockman Interhold S.A. Claim No. BVI HC (Com) 0083 of 2012

January 2013 Companies

BRITISH VIRGIN ISLANDS

HIGH COURT (COMMERCIAL DIVISION)

DERIVATIVE PROCEEDINGS - PRINCIPLES TO BE APPLIED UNDER SECTION 184C OF THE BVI BUSINESS COMPANIES ACT, 2004 - MEANING OF ‘GOOD FAITH’ IN SECTION 184C (2)(A) - WHETHER CLAIM UNDER SECTION 184I AN ALTERNATIVE REMEDY FOR THE PURPOSE OF SECTION 184C 2(E)

In this case the Applicants who were shareholders in the subject company, Oledo Petroleum Ltd (the “Company”), sought a provisional order for leave to bring a derivative action. The proposed action was to enable the Company to seek to recover the sum of US$71.5 million alleged to have been wrongly transferred from its bank account to an account belonging to another company. It is accepted that the Defendant caused the transfer and that the Applicants were entitled to 50% of that sum.

 

To continue reading full articles in PDF format:
Andriy Malitskiy and Igor Filipenko -v- Oledo Petroleum Limited and Oledo Petroleum Limited v Andriy Grigoryevych Adamovsky and Stockman Interhold S.A. Claim No. BVI HC (Com) 0083 of 2012

 

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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

Andriy Malitskiy and Igor Filipenko -v- Oledo Petroleum Limited and Oledo Petroleum Limited v Andriy Grigoryevych Adamovsky and Stockman Interhold S.A. Claim No. BVI HC (Com) 0083 of 2012

01 January 2013

BRITISH VIRGIN ISLANDS

HIGH COURT (COMMERCIAL DIVISION)

DERIVATIVE PROCEEDINGS - PRINCIPLES TO BE APPLIED UNDER SECTION 184C OF THE BVI BUSINESS COMPANIES ACT, 2004 - MEANING OF ‘GOOD FAITH’ IN SECTION 184C (2)(A) - WHETHER CLAIM UNDER SECTION 184I AN ALTERNATIVE REMEDY FOR THE PURPOSE OF SECTION 184C 2(E)

In this case the Applicants who were shareholders in the subject company, Oledo Petroleum Ltd (the “Company”), sought a provisional order for leave to bring a derivative action. The proposed action was to enable the Company to seek to recover the sum of US$71.5 million alleged to have been wrongly transferred from its bank account to an account belonging to another company. It is accepted that the Defendant caused the transfer and that the Applicants were entitled to 50% of that sum.

 

To continue reading full articles in PDF format:
Andriy Malitskiy and Igor Filipenko -v- Oledo Petroleum Limited and Oledo Petroleum Limited v Andriy Grigoryevych Adamovsky and Stockman Interhold S.A. Claim No. BVI HC (Com) 0083 of 2012

 

 

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