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Offshore Cases

Kenneth Krys and John Greenwood and New World Value Fund et al Claim No. BVIHCMAP 2013/0017

May 2014 Insolvency Winding Up Liquidation

BRITISH VIRGIN ISLANDS

COURT OF APPEAL

PARTNERSHIP IN LIQUIDATION - ARTICLES OF PARTNERSHIP - CONSTRUCTION - ALLOCATION OF ASSETS - ENTITLEMENTS OF PARTNERS TO ASSETS OF PARTNERSHIP IN LIQUIDATION - CONSTRUCTION OF CLAUSES IN ARTICLES OF PARTNERSHIP AFFECTING PARTNERS’ ENTITLEMENTS - MEANING TO BE GIVEN TO WORD ‘SALE’ IN PHRASE ‘FOLLOWING THE SALE OF ALL INVESTMENTS OF THE PARTNERSHIP’ - WHETHER ‘SALE’ SHOULD BE GIVEN PLAIN ORDINARY MEANING OR ALTERNATIVELY EXTENDED MEANING SO THAT IT IS READ INSTEAD AS ‘SALE OR DISTRIBUTION IN SPECIE’ - WHETHER SALE OF ALL INVESTMENTS OF PARTNERSHIP HAD TO TAKE PLACE DURING TERM OF PARTNERSHIP - WHETHER LEARNED JUDGE ERRED IN HOLDING THAT THE WORD ‘SALE’ OUGHT TO BE GIVEN AN EXTENDED MEANING

This case concerned the construction of articles of partnership. The decision is not authority for any proposition of partnership law but instead has significance in outlining principles of construction in questions of commercial contract interpretation generally. The argument turned on the meaning of the word “sale” and whether it was broad enough to apply to a distribution in specie.

 

To continue reading full articles in PDF format:
Kenneth Krys and John Greenwood and New World Value Fund et al Claim No. BVIHCMAP 2013/0017

 

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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

Kenneth Krys and John Greenwood and New World Value Fund et al Claim No. BVIHCMAP 2013/0017

18 May 2014

BRITISH VIRGIN ISLANDS

COURT OF APPEAL

PARTNERSHIP IN LIQUIDATION - ARTICLES OF PARTNERSHIP - CONSTRUCTION - ALLOCATION OF ASSETS - ENTITLEMENTS OF PARTNERS TO ASSETS OF PARTNERSHIP IN LIQUIDATION - CONSTRUCTION OF CLAUSES IN ARTICLES OF PARTNERSHIP AFFECTING PARTNERS’ ENTITLEMENTS - MEANING TO BE GIVEN TO WORD ‘SALE’ IN PHRASE ‘FOLLOWING THE SALE OF ALL INVESTMENTS OF THE PARTNERSHIP’ - WHETHER ‘SALE’ SHOULD BE GIVEN PLAIN ORDINARY MEANING OR ALTERNATIVELY EXTENDED MEANING SO THAT IT IS READ INSTEAD AS ‘SALE OR DISTRIBUTION IN SPECIE’ - WHETHER SALE OF ALL INVESTMENTS OF PARTNERSHIP HAD TO TAKE PLACE DURING TERM OF PARTNERSHIP - WHETHER LEARNED JUDGE ERRED IN HOLDING THAT THE WORD ‘SALE’ OUGHT TO BE GIVEN AN EXTENDED MEANING

This case concerned the construction of articles of partnership. The decision is not authority for any proposition of partnership law but instead has significance in outlining principles of construction in questions of commercial contract interpretation generally. The argument turned on the meaning of the word “sale” and whether it was broad enough to apply to a distribution in specie.

 

To continue reading full articles in PDF format:
Kenneth Krys and John Greenwood and New World Value Fund et al Claim No. BVIHCMAP 2013/0017

 

 

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