Matter
BCCI Overseas insolvency proceedings (French judicial reorganisation and Cayman provisional liquidation)
- 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.
Supporting details
4 participants1 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.
Supporting details
2 participants11 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.
Supporting details
4 participantsBCCI Overseas
Mr B...
Mr X...
Mr A...
Paris Court of Appeal
- Date not availableFrance
Date not availableFrance
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.
Supporting details
6 authorities · 5 participants