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Wang Zhongyong et al -v- Union Zone Management Limited et al (Claim No. BVIHC (Com) 0126 of 2011)

October 2013 Companies Unfair Prejudice

BRITISH VIRGIN ISLANDS

HIGH COURT (COMMERCIAL DIVISION)

SECTION 1841 OF THE BVI BUSINESS COMPANIES ACT - UNFAIR PREJUDICE PROCEEDINGS - WHETHER CONDUCT OF MAJORITY AMOUNTED TO A BREACH OF A PREEXISTING UNDERSTANDING - JUST AND EQUITABLE WINDING UP UNDER THE INSOLVENCY ACT

Shareholders of a BVI company, Union Zone Management Limited, brought a claim under Section 1841 of the BVI Business Companies Act against the other members who between then controlled 56.7% of the shares in the Company for unfair prejudice. The Claimant sought various reliefs under Section 1841 on the grounds that the affairs of the Company were being conducted in a manner unfairly prejudicial to them in their capacity as members. The conduct complained of was the apparent exclusion of the Claimants from the management of the Group notwithstanding what they say was the existence of an understanding that each would share in the management of the Company and its subsidiaries. The Court found as a matter of fact there was no common understanding for mutual participation in the business affairs of the Company and therefore no basis for the claim for unfair prejudice.

 

To continue reading full articles in PDF format:
Wang Zhongyong et al -v- Union Zone Management Limited et al (Claim No. BVIHC (Com) 0126 of 2011)

 

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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

Wang Zhongyong et al -v- Union Zone Management Limited et al (Claim No. BVIHC (Com) 0126 of 2011)

17 October 2013

BRITISH VIRGIN ISLANDS

HIGH COURT (COMMERCIAL DIVISION)

SECTION 1841 OF THE BVI BUSINESS COMPANIES ACT - UNFAIR PREJUDICE PROCEEDINGS - WHETHER CONDUCT OF MAJORITY AMOUNTED TO A BREACH OF A PREEXISTING UNDERSTANDING - JUST AND EQUITABLE WINDING UP UNDER THE INSOLVENCY ACT

Shareholders of a BVI company, Union Zone Management Limited, brought a claim under Section 1841 of the BVI Business Companies Act against the other members who between then controlled 56.7% of the shares in the Company for unfair prejudice. The Claimant sought various reliefs under Section 1841 on the grounds that the affairs of the Company were being conducted in a manner unfairly prejudicial to them in their capacity as members. The conduct complained of was the apparent exclusion of the Claimants from the management of the Group notwithstanding what they say was the existence of an understanding that each would share in the management of the Company and its subsidiaries. The Court found as a matter of fact there was no common understanding for mutual participation in the business affairs of the Company and therefore no basis for the claim for unfair prejudice.

 

To continue reading full articles in PDF format:
Wang Zhongyong et al -v- Union Zone Management Limited et al (Claim No. BVIHC (Com) 0126 of 2011)

 

 

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