Mobile Menu
Offshore Cases

PT Ventures SGPS SA -v- Vidatel Ltd (BVIHC (Com) 2015/0117) (October 2015 and June 2016)

June 2016 Civil Procedure Rules Freezing Orders Contempt of Court

BRITISH VIRGIN ISLANDS

COMMERCIAL COURT

CONTEMPT OF COURT - APPLICANT APPLIED TO HAVE RESPONDENT FOUND IN CONTEMPT OF COURT FOR BREACHING COURT ORDERS RESTRAINING DISPOSITION OF ITS ASSETS AND FAILING TO FILE SWORN EVIDENCE REGARDING SUCH DISPOSITIONS - INTERESTS OF JUSTICE REQUIRE THAT COURT CONSIDER ALL AVAILABLE EVIDENCE - EVIDENCE ESTABLISHED THAT TRANSFERS IN ISSUE WERE EFFECTED PURSUANT TO PRIOR INSTRUCTIONS PRIOR TO COURT’S ORDER - NO OPPORTUNITY TO COUNTERMAND BECAUSE TRANSFERS COMPLETED BEFORE ORDERS MADE - FOR FINDING OF CONTEMPT, ORDER NEED TO BE CLEAR AND UNEQUIVOCAL, AND NEED TO BE STRICTLY CONSTRUED

On the Application of PT Ventures SGPS SA, the Court heard the parties’ submissions as to whether there was contempt of the Court’s temporary worldwide freezing order on the part of the Respondents. On evidence, the transfers of assets in issue were affected and completed some seven hours before the Court’s freezing order. The Court took into account the Respondent’s submission that had the Respondent really intended to dissipate assets, engagement with the Applicants’ legal practitioners prior to the ex parte hearing “would have been the last thing to undertake”. Further, there was no evidence that the Respondents did anything (one way or the other) to expedite or delay the transfers. Given the way events unfolded, there was no opportunity to countermand the transfers, as such transfers were completed before the freezing order was made.

 

To continue reading full articles in PDF format:
PT Ventures SGPS SA -v- Vidatel Ltd (BVIHC (Com) 2015/0117) (October 2015 and June 2016)

 

Accolades
_

"Few firms can come close to Conyers on one critical metric, and this is the breadth of the client base."
- IFLR1000

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

PT Ventures SGPS SA -v- Vidatel Ltd (BVIHC (Com) 2015/0117) (October 2015 and June 2016)

06 June 2016

BRITISH VIRGIN ISLANDS

COMMERCIAL COURT

CONTEMPT OF COURT - APPLICANT APPLIED TO HAVE RESPONDENT FOUND IN CONTEMPT OF COURT FOR BREACHING COURT ORDERS RESTRAINING DISPOSITION OF ITS ASSETS AND FAILING TO FILE SWORN EVIDENCE REGARDING SUCH DISPOSITIONS - INTERESTS OF JUSTICE REQUIRE THAT COURT CONSIDER ALL AVAILABLE EVIDENCE - EVIDENCE ESTABLISHED THAT TRANSFERS IN ISSUE WERE EFFECTED PURSUANT TO PRIOR INSTRUCTIONS PRIOR TO COURT’S ORDER - NO OPPORTUNITY TO COUNTERMAND BECAUSE TRANSFERS COMPLETED BEFORE ORDERS MADE - FOR FINDING OF CONTEMPT, ORDER NEED TO BE CLEAR AND UNEQUIVOCAL, AND NEED TO BE STRICTLY CONSTRUED

On the Application of PT Ventures SGPS SA, the Court heard the parties’ submissions as to whether there was contempt of the Court’s temporary worldwide freezing order on the part of the Respondents. On evidence, the transfers of assets in issue were affected and completed some seven hours before the Court’s freezing order. The Court took into account the Respondent’s submission that had the Respondent really intended to dissipate assets, engagement with the Applicants’ legal practitioners prior to the ex parte hearing “would have been the last thing to undertake”. Further, there was no evidence that the Respondents did anything (one way or the other) to expedite or delay the transfers. Given the way events unfolded, there was no opportunity to countermand the transfers, as such transfers were completed before the freezing order was made.

 

To continue reading full articles in PDF format:
PT Ventures SGPS SA -v- Vidatel Ltd (BVIHC (Com) 2015/0117) (October 2015 and June 2016)

 

 

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