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Singularis Holdings Limited -v- PricewatershouseCoopers (Bermuda exempted partnership No. 7420) [2014] UKPC 36 (10 November 2014)

November 2014 Insolvency Winding Up Liquidation

BERMUDA

PRIVY COUNCIL

CROSS-BORDER INSOLVENCY - WINDING UP - DISCLOSURE SOUGHT BY FOREIGN LIQUIDATORS - JUDICIAL ASSISTANCE - EXCESS OF JURISDICTION - EXTENT OF COMMON LAW WHERE EXISTING STATUTE - STANDING - PUBLIC POLICY - MODIFIED UNIVERSALISM

In the Singularis case, the Privy Council (Lords Neuberger, Mance, Clarke, Collins and Sumption) delivered an important Judgment: (1) about the jurisdiction of the Bermuda court to assist foreign liquidators by ordering the production of documents and information by persons in Bermuda and (2) defining the common law powers of assistance to foreign liquidators. The interplay or conflict between the decisions of the Privy Council and the UK Supreme Court in Cambridge Gas -v- Navigator [2007] 1 AC 508, Rubin -v- Eurofi nance [2012] UKSC 46 and Al Sabah -v- Grupo Torras [2005] 2 AC 333 has been a source of great debate and litigation in the world of cross-border insolvency. The Privy Council has now provided clarity to this area of the law.

 

To continue reading full articles in PDF format:
Singularis Holdings Limited -v- PricewatershouseCoopers (Bermuda exempted partnership No. 7420) [2014] UKPC 36 (10 November 2014)

 

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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

Singularis Holdings Limited -v- PricewatershouseCoopers (Bermuda exempted partnership No. 7420) [2014] UKPC 36 (10 November 2014)

20 November 2014

BERMUDA

PRIVY COUNCIL

CROSS-BORDER INSOLVENCY - WINDING UP - DISCLOSURE SOUGHT BY FOREIGN LIQUIDATORS - JUDICIAL ASSISTANCE - EXCESS OF JURISDICTION - EXTENT OF COMMON LAW WHERE EXISTING STATUTE - STANDING - PUBLIC POLICY - MODIFIED UNIVERSALISM

In the Singularis case, the Privy Council (Lords Neuberger, Mance, Clarke, Collins and Sumption) delivered an important Judgment: (1) about the jurisdiction of the Bermuda court to assist foreign liquidators by ordering the production of documents and information by persons in Bermuda and (2) defining the common law powers of assistance to foreign liquidators. The interplay or conflict between the decisions of the Privy Council and the UK Supreme Court in Cambridge Gas -v- Navigator [2007] 1 AC 508, Rubin -v- Eurofi nance [2012] UKSC 46 and Al Sabah -v- Grupo Torras [2005] 2 AC 333 has been a source of great debate and litigation in the world of cross-border insolvency. The Privy Council has now provided clarity to this area of the law.

 

To continue reading full articles in PDF format:
Singularis Holdings Limited -v- PricewatershouseCoopers (Bermuda exempted partnership No. 7420) [2014] UKPC 36 (10 November 2014)

 

 

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