Matter
Kenworth Industrial Limited v Xin Gang Power Investments Limited
- 11 November 2022British Virgin Islands
11 November 2022British Virgin Islands
Judgment of the High Court of Justice of the British Virgin Islands in the cases BVIHC (COM) 2022/0053 and BVIHC (COM) 2022/0065 dated 11 November 2022
High Court of Justice of the British Virgin Islands, Commercial Division
- Decision summary
- The court refused Xin Gang Power Investments Limited's application for a stay of Kenworth Industrial Limited's winding-up application. It held that the court had discretion whether to stay the just and equitable liquidation application pending arbitration and refused a stay because the paid-up shares and forfeiture issues could not be separated from the other issues and parallel tribunals risked inconsistent findings on witness credibility.
Supporting details
16 authorities · 9 participantsKenworth Industrial Limited
- Representative
- Alex Hall Taylor KC (For: Kenworth Industrial Limited)
- Representative
- James Noble (For: Kenworth Industrial Limited)
- Representative
- Helen Wang (For: Kenworth Industrial Limited)
- Representative
- Yan Chng (For: Kenworth Industrial Limited)
Xin Gang Power Investments Limited
- Representative
- John Machel KC (For: Xin Gang Power Investments Limited)
- Representative
- James McDermott (For: Xin Gang Power Investments Limited)
High Court of Justice of the British Virgin Islands, Commercial Division
- Judge
- Adrian Jack
1 year, 2 months and 21 days later · 447 days
- 1 February 2024British Virgin Islands
1 February 2024British Virgin Islands
Judgment of the High Court of Justice of the British Virgin Islands in the case BVIHCOM2023/0006 dated 1 February 2024
High Court of Justice of the British Virgin Islands, Commercial Division
- Decision summary
- The court granted Xin Gang Power Investments Limited's application for a stay of Kenworth Industrial Limited's originating application to appoint liquidators, staying the whole application until further order under section 18 of the Arbitration Act 2013 and, alternatively, the court's discretionary or inherent jurisdiction. The court awarded Xin Gang its costs, summarily assessed at US$201,449.03, payable within 14 days.
Supporting details
29 authorities · 8 participantsKenworth Industrial Limited
- Representative
- Stephen Moverley-Smith KC (For: Kenworth Industrial Limited)
- Representative
- James Noble (For: Kenworth Industrial Limited)
- Representative
- Yan Chng (For: Kenworth Industrial Limited)
Xin Gang Power Investments Limited
- Representative
- Robert Nader (For: Xin Gang Power Investments Limited)
- Representative
- Sam Robertson (For: Xin Gang Power Investments Limited)
High Court of Justice of the British Virgin Islands, Commercial Division
- Judge
- Ingrid Mangatal
- Date not availableArbitration
Date not availableArbitration
Ruling of the arbitral tribunal in HKIAC/PA22212 dated 30 July 2023
- Decision summary
- The tribunal determined that the paid-up shares and forfeiture issues were capable of arbitration and fell within the scope of the arbitration agreement.
Supporting details
2 participantsKenworth Industrial Limited
Xin Gang Power Investments Limited