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Offshore Cases

In the Matter of Proview International Holdings Limited 2011 No. 231

March 2012 Insolvency Winding Up Liquidation

BERMUDA

SUPREME COURT

COMPANIES - WINDING UP - FAILURE TO HOLD AGM - ADVERTISEMENT

In the Matter of Proview International Holdings Limited 2011 No. 231, concerned a Petition to wind up a company granted at a hearing where only the Petitioner was present. The Court allowed the Petition thereby winding up the Company by reason that it had failed hold an AGM in compliance with S.72 of the CA 1981.

The Company successfully applied to set aside the winding up Order on the grounds that, inter alia, the Petitioner lacked standing under the Companies Act, 1981 (the “Act”) and also that the Court had been mislead by the Petitioner when it granted the Order. The Judgment is therefore largely about the consequential costs dispute, but, parenthetically, the Court commented on three important practice matters.

 

To continue reading full articles in PDF format:
In the Matter of Proview International Holdings Limited 2011 No. 231

 

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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

In the Matter of Proview International Holdings Limited 2011 No. 231

01 March 2012

BERMUDA

SUPREME COURT

COMPANIES - WINDING UP - FAILURE TO HOLD AGM - ADVERTISEMENT

In the Matter of Proview International Holdings Limited 2011 No. 231, concerned a Petition to wind up a company granted at a hearing where only the Petitioner was present. The Court allowed the Petition thereby winding up the Company by reason that it had failed hold an AGM in compliance with S.72 of the CA 1981.

The Company successfully applied to set aside the winding up Order on the grounds that, inter alia, the Petitioner lacked standing under the Companies Act, 1981 (the “Act”) and also that the Court had been mislead by the Petitioner when it granted the Order. The Judgment is therefore largely about the consequential costs dispute, but, parenthetically, the Court commented on three important practice matters.

 

To continue reading full articles in PDF format:
In the Matter of Proview International Holdings Limited 2011 No. 231

 

 

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