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Shareholder Relief: Eastern Caribbean Appeal Court Considers the Just and Equitable Grounds for Winding up a BVI Company

February 2015 Mark J. Forte

In Wang Zhongyong -v- Union Zone Management Ltd [BVIHCMAP 2013/0024] (“Wang”), the Eastern Caribbean Court of Appeal (“ECCA”) has had its first opportunity to review the legal principles which apply where a shareholder of a BVI company seeks a self-standing order winding up the company on the just and equitable ground under s.162(1)(b) of the Insolvency Act 2003 (“IA”). Hitherto, all the cases considered by the ECCA where such relief has been claimed have been cloaked in an application under s.184I of the Business Companies Act (“BCA”), the “unfair prejudice” provision, to which different considerations apply.

 

To continue reading full articles in PDF format:
Shareholder Relief: Eastern Caribbean Appeal Court Considers the Just and Equitable Grounds for Winding up a BVI Company

 


Mark J. Forte
Partner, Head of BVI Litigation & Restructuring and Office

British Virgin Islands, Bermuda   +1 284 346 1113


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Alerts

Shareholder Relief: Eastern Caribbean Appeal Court Considers the Just and Equitable Grounds for Winding up a BVI Company

23 February 2015 Mark J. Forte

In Wang Zhongyong -v- Union Zone Management Ltd [BVIHCMAP 2013/0024] (“Wang”), the Eastern Caribbean Court of Appeal (“ECCA”) has had its first opportunity to review the legal principles which apply where a shareholder of a BVI company seeks a self-standing order winding up the company on the just and equitable ground under s.162(1)(b) of the Insolvency Act 2003 (“IA”). Hitherto, all the cases considered by the ECCA where such relief has been claimed have been cloaked in an application under s.184I of the Business Companies Act (“BCA”), the “unfair prejudice” provision, to which different considerations apply.

 

To continue reading full articles in PDF format:
Shareholder Relief: Eastern Caribbean Appeal Court Considers the Just and Equitable Grounds for Winding up a BVI Company

 


Mark J. Forte
Partner, Head of BVI Litigation & Restructuring and Office

British Virgin Islands, Bermuda   +1 284 346 1113


 

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British Virgin Islands


International Office(s)

British Virgin Islands