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Microsoft Corporation -v- Vadem Ltd Claim No. HC (Com) 2012/0048 (November 2012)

November 2012 Companies

BRITISH VIRGIN ISLANDS

HIGH COURT (COMMERCIAL DIVISION)

SECTION 184 OF THE BVI BUSINESS COMPANIES ACT (THE “ACT”) - DERIVATIVE ACTION - DOUBLE DERIVATIVE - COURT’S POWER

This Case concerned the right of a member of a holding company to bring derivative proceedings in respect of rights vested in its subsidiaries. The Applicant, Microsoft Corporation (“Microsoft”), applied for leave under Section 184C of the Act to commence proceedings against a number of defendants in the Court of Chancery in the State of Delaware in the name and on behalf of a BVI incorporated company, Vadem Limited (“Vadem BVI”) (in respect of which it is a member). Counsel on behalf of Microsoft contended that there was nothing in Section 184C of the Act, which excluded the ability of a member of a holding company to bring proceedings in respect of causes of action vested in a subsidiary.

 

To continue reading full articles in PDF format:
Microsoft Corporation -v- Vadem Ltd Claim No. HC (Com) 2012/0048 (November 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

Microsoft Corporation -v- Vadem Ltd Claim No. HC (Com) 2012/0048 (November 2012)

01 November 2012

BRITISH VIRGIN ISLANDS

HIGH COURT (COMMERCIAL DIVISION)

SECTION 184 OF THE BVI BUSINESS COMPANIES ACT (THE “ACT”) - DERIVATIVE ACTION - DOUBLE DERIVATIVE - COURT’S POWER

This Case concerned the right of a member of a holding company to bring derivative proceedings in respect of rights vested in its subsidiaries. The Applicant, Microsoft Corporation (“Microsoft”), applied for leave under Section 184C of the Act to commence proceedings against a number of defendants in the Court of Chancery in the State of Delaware in the name and on behalf of a BVI incorporated company, Vadem Limited (“Vadem BVI”) (in respect of which it is a member). Counsel on behalf of Microsoft contended that there was nothing in Section 184C of the Act, which excluded the ability of a member of a holding company to bring proceedings in respect of causes of action vested in a subsidiary.

 

To continue reading full articles in PDF format:
Microsoft Corporation -v- Vadem Ltd Claim No. HC (Com) 2012/0048 (November 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