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Matter

IS Investment Fund Segregated Portfolio Company v Fair Cheerful Ltd

  1. 16 July 2020British Virgin Islands

    16 July 2020British Virgin Islands

    Judgment of the High Court of Justice (Commercial Division) of the British Virgin Islands in claim BVIHC (COM) 2020/0034 dated 16 July 2020

    Eastern Caribbean Supreme Court, High Court of Justice (Commercial Division), British Virgin Islands

    Case no.
    BVIHC (COM) 2020/0034
    Decision summary
    The Court dismissed with costs the application to appoint a liquidator over Fair Cheerful Ltd. It declined to adjourn the application indefinitely because the dispute had already been referred to the Hong Kong International Arbitration Centre and there was no evidence of a risk of asset dissipation.

    Supporting details

    7 authorities · 6 participants
    Application
    Application to appoint a liquidator — Dismissed with costs
    IS Investment Fund Segregated Portfolio Company
    Representative
    Rosalind Nicholson (For: IS Investment Fund Segregated Portfolio Company)
    Fair Cheerful Ltd
    Representative
    Neil McLarnon (For: Fair Cheerful Ltd)
    Representative
    Bjhavesh Patel (For: Fair Cheerful Ltd)
    Eastern Caribbean Supreme Court, High Court of Justice (Commercial Division), British Virgin Islands

    Authorities cited

    7
    • BVI Insolvency Act 2003 (Insolvency Act 2003)
      statute
    • BVI Arbitration Act 2013 (Arbitration Act 2013)
      statute
    • Re Lenox International Ltd; Rangecroft Ltd v Lenox International Ltd (BVIHC (COM) No 37 of 2020)
      case law
    • C-Mobile Services Ltd v Huawei Technologies Co Ltd (BVIHCMAP 2014/0017)
      case law
    • Jinpeng Group Ltd v Peak Hotels and Resorts Ltd (BVIHCMAP 2014/0025 AND 2015/0003)
      case law
    • Sparkasse Bregenz Bank AG v In the Matter of Associated Capital Corp (Civil Appeal No 10 of 2002)
      case law
    • Salford Estates (No 2) Ltd v Altomart Ltd ([2014] EWCA Civ 1575, [2015] 1 Ch 589)
      case law

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IS Investment Fund Segregated Portfolio Company v Fair Cheerful Ltd · Matter