Matter
Bank of Credit and Commerce International Ltd Overseas (BCCI Overseas) insolvency proceedings
Cayman and French insolvency proceedings concerning BCCI Overseas, its liquidators, and collective creditor claims requiring compliance with French formal and evidentiary rules.
Procedural record
- 22 July 1991Cayman Islands
22 July 1991Cayman Islands
Judgment of the Grand Court of the Cayman Islands dated 22 July 1991
The Grand Court of the Cayman Islands
- Decision summary
- The court opened provisional liquidation proceedings against BCCI Overseas and appointed liquidators.
Participants
BCCI Overseas
- Representative
- A... (For: BCCI Overseas)
- Representative
- X... (For: BCCI Overseas)
- Representative
- Z... (For: BCCI Overseas)
The Grand Court of the Cayman Islands
1 day later · 1 days
- 23 July 1991France
23 July 1991France
Judgment of the Paris Commercial Court dated 23 July 1991
Paris Commercial Court
- Decision summary
- The court opened judicial reorganisation proceedings against BCCI Overseas because the Cayman insolvency judgments had not been granted exequatur in France, and appointed Mme Y... as creditors' representative.
Participants
BCCI Overseas
Creditors
- Representative
- Mme Y... (For: Creditors)
Paris Commercial Court
5 months and 22 days later · 175 days
- 14 January 1992Cayman Islands
14 January 1992Cayman Islands
Judgment of the Grand Court of the Cayman Islands dated 14 January 1992
The Grand Court of the Cayman Islands
- Decision summary
- The court opened liquidation proceedings against BCCI Overseas and appointed A..., X..., and Z... as liquidators.
Participants
BCCI Overseas
- Representative
- A... (For: BCCI Overseas)
- Representative
- X... (For: BCCI Overseas)
- Representative
- Z... (For: BCCI Overseas)
The Grand Court of the Cayman Islands
2 years, 2 months and 15 days later · 805 days
- 29 March 1994France
29 March 1994France
Judgment of the Paris Court of Appeal in case 92/9109 dated 29 March 1994
Paris Court of Appeal
- Decision summary
- The court upheld rejection of the collective claim declaration by the Cayman liquidators because it did not identify or substantiate each creditor's claim.
Participants
BCCI Overseas
- Representative
- The liquidators (For: BCCI Overseas)
Creditors
- Representative
- Mme Y... (For: Creditors)
Paris Court of Appeal
2 years, 1 month and 15 days later · 777 days
- 14 May 1996France
14 May 1996France
Judgment of the French Court of Cassation rejecting the principal appeal
French Court of Cassation
- Decision summary
- The court rejected the principal appeal. It held that the Cayman liquidators could represent creditors and lodge a claim in the French insolvency proceedings, but had to comply with French formal and evidentiary requirements for each creditor's claim; the incidental appeals therefore became moot.
Participants
BCCI Overseas
- Representative
- A... (For: BCCI Overseas)
- Representative
- X... (For: BCCI Overseas)
- Representative
- Z... (For: BCCI Overseas)
Creditors
- Representative
- Mme Y... (For: Creditors)
French Court of Cassation
- Date not availableFrance
Date not availableFrance
Order of the supervising judge rejecting the claim declaration
Supervisory Judge
- Decision summary
- The supervising judge rejected the collective declaration lodged by the Cayman liquidators because it did not identify the amount or establish the existence of each represented creditor's claim with supporting documents.
Participants
Creditors
- Representative
- The liquidators (For: Creditors)
- Representative
- The creditors' representative (For: Creditors)
Supervisory Judge