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Fifth Street Finance Corporation -v- David Dobbin [2013] SC (Bda) 55 Com (17 July 2013)

July 2013 Procedure

BERMUDA

SUPREME COURT

TRIAL OF PRELIMINARY ISSUE - GUARANTOR’S LIABILITY - LEAVE TO AMEND

The Plaintiff in this action was a Delaware corporation based in New York State which provides business finance. The Defendant was a businessman resident in Bermuda. The Plaintiff sought US$3,874,441.30 together with, inter alia, contractual interest and costs from the Defendant under a Guarantee and Indemnity Agreement dated 28 September 2009 (“the Guarantee”). The principal debtor whose debts were guaranteed by the Defendant is a Canadian company, Repechage Investments Limited (“RIL”). The primary obligations were owed to the Plaintiff by RIL as assignee of pre-existing liabilities under a Credit Agreement owed by two of RIL’s subsidiaries. RIL filed a voluntary bankruptcy petition in the United States Bankruptcy Court for the District of Massachusetts (Eastern Division), which the Defendant signed as its President and Chief Executive Officer.

 

To continue reading full articles in PDF format:
Fifth Street Finance Corporation -v- David Dobbin [2013] SC (Bda) 55 Com (17 July 2013)

 

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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

Fifth Street Finance Corporation -v- David Dobbin [2013] SC (Bda) 55 Com (17 July 2013)

17 July 2013

BERMUDA

SUPREME COURT

TRIAL OF PRELIMINARY ISSUE - GUARANTOR’S LIABILITY - LEAVE TO AMEND

The Plaintiff in this action was a Delaware corporation based in New York State which provides business finance. The Defendant was a businessman resident in Bermuda. The Plaintiff sought US$3,874,441.30 together with, inter alia, contractual interest and costs from the Defendant under a Guarantee and Indemnity Agreement dated 28 September 2009 (“the Guarantee”). The principal debtor whose debts were guaranteed by the Defendant is a Canadian company, Repechage Investments Limited (“RIL”). The primary obligations were owed to the Plaintiff by RIL as assignee of pre-existing liabilities under a Credit Agreement owed by two of RIL’s subsidiaries. RIL filed a voluntary bankruptcy petition in the United States Bankruptcy Court for the District of Massachusetts (Eastern Division), which the Defendant signed as its President and Chief Executive Officer.

 

To continue reading full articles in PDF format:
Fifth Street Finance Corporation -v- David Dobbin [2013] SC (Bda) 55 Com (17 July 2013)

 

 

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