Matter
BCCI Overseas insolvency proceedings (French judicial reorganisation and Cayman provisional liquidation)
French and Cayman insolvency proceedings concerning BCCI Overseas, its liquidators and creditor claims.
Procedural record
- 22 July 1991Cayman Islands
22 July 1991Cayman Islands
Judgment of the Grand Cayman Court dated 22 July 1991 concerning BCCI Overseas
Grand Cayman Court
- Decision summary
- The Grand Cayman Court opened provisional liquidation proceedings against BCCI Overseas and appointed Mr B..., Mr X..., and Mr A... as liquidators.
Participants
BCCI Overseas
Grand Cayman Court
Other
- Institutional administrator
- Mr B...
- Institutional administrator
- Mr X...
- Institutional administrator
- Mr A...
1 day later · 1 days
- 23 July 1991France
23 July 1991France
Judgment of the Paris Commercial Court dated 23 July 1991 concerning BCCI Overseas
Paris Commercial Court
- Decision summary
- The Paris Commercial Court opened judicial reorganisation proceedings against BCCI Overseas after its provisional administrator declared cessation of payments, treating the Paris branch as the debtor's principal establishment for France and Monaco.
Participants
BCCI Overseas
Paris Commercial Court
Other
- Institutional administrator
- Mr Y...
11 months and 15 days later · 351 days
- 8 July 1992France
8 July 1992France
Judgment of the Paris Court of Appeal dated 8 July 1992 concerning BCCI Overseas
Paris Court of Appeal
- Decision summary
- The Paris Court of Appeal upheld the opening of French judicial reorganisation proceedings against BCCI Overseas, holding that the Cayman provisional liquidation did not prevent the French proceedings and that the Paris branch was the debtor's principal establishment in France.
Participants
BCCI Overseas
Mr B...
Mr X...
Mr A...
Paris Court of Appeal
2 years, 9 months and 3 days later · 1007 days
- 11 April 1995France
11 April 1995France
Judgment of the French Court of Cassation concerning BCCI Overseas
French Court of Cassation
- Decision summary
- The French Court of Cassation dismissed the appeal and held that the Cayman provisional liquidation did not bar French judicial reorganisation because it was not entitled to recognition in France under a treaty and had not received exequatur. It upheld Paris's jurisdiction based on BCCI Overseas's principal establishment in Paris and held that the provisional administrator had authority to declare cessation of payments.
Participants
BCCI Overseas
Mr B...
Mr X...
Mr A...
French Court of Cassation
Other
- Institutional administrator
- Mr Y...