Xeno Origin Limited v Ma Kwok Leung (Eastern Caribbean Supreme Court Court of Appeal BVIHCMAP2025/0024 and BVIHCMAP2025/0026)

Procedural record

1. 26 June 2025British Virgin Islands

   26 June 2025British Virgin Islands

   Judgment of the Commercial Division of the High Court of Justice of the British Virgin Islands

   Commercial Division of the High Court of Justice of the British Virgin Islands

   Decision summary

   The High Court refused retrospective leave to commence and continue derivative proceedings in Hong Kong, but granted prospective leave to commence new derivative proceedings in the name and on behalf of Xeno Origin Limited.

   Participants

   Commercial Division of the High Court of Justice of the British Virgin Islands

   Judge

   Wallbank J

   1 year and 7 days later · 372 days

2. 3 July 2026British Virgin Islands

   3 July 2026British Virgin Islands

   Judgment of the Eastern Caribbean Supreme Court, Court of Appeal in the cases BVIHCMAP2025/0024 and BVIHCMAP2025/0026 dated 3 July 2026

   Eastern Caribbean Supreme Court, Court of Appeal

   Decision summary

   The Court of Appeal dismissed both interrelated appeals concerning leave for a member to bring derivative proceedings under section 184C of the BVI Business Companies Act, 2004. It held that derivative proceedings commenced without leave are defective but not a nullity, that the statute does not confer power to grant retrospective leave, and that the lower court was entitled to grant prospective leave after weighing the statutory considerations.

   Participants

   Xeno Origin Limited

   Representative

   David Lord, KC (For: Xeno Origin Limited)

   Ma Kwok Leung

   Representative

   Alexander Cook, KC (For: Ma Kwok Leung)

   Representative

   Guy Olliff-Cooper (For: Ma Kwok Leung)

   Representative

   Aaron Mayers (For: Ma Kwok Leung)

   Representative

   Grainne Hussey (For: Ma Kwok Leung)

   Eastern Caribbean Supreme Court, Court of Appeal

   Judge

   Margaret Price Findlay

   Judge

   Esco L. Henry

   Judge

   Gerard St. C Farara

   Authorities cited

   19

   • BVI Business Companies Act, 2004
     statute
   • Eastern Caribbean Supreme Court (Virgin Islands) Act, Cap. 89 (Eastern Caribbean Supreme Court (Virgin Islands) Act Cap. 89)
     statute
   • Companies Act 2006
     statute
   • Patrick v Walker (JM 1966 CA 217)
     case
   • MacDonna v Richardson (AXAHCVAP2005/0003)
     case
   • Nigel Gray v Allan Leddra and others (BVIHC (COM) 2011/0079)
     case
   • Wong Ming Bun v Wang Ming Fan and others (HCA [2014] 1 HKLRD 1108)
     case
   • Novatrust Limited v Kea Investments Limited and Ors ([2014] EWHC 4061 (Ch))
     case
   • Re Saunders (A Bankrupt) ([1997] Ch 60)
     case
   • Re Testro Bros Consolidated Ltd ([1965] VR 16)
     case
   • Wilton UK Ltd v Shuttleworth ([2017] EWHC 2195 (Ch))
     case
   • Iu Chung v Greater Achieve Limited (BVIHC (COM) 2015/0140)
     case
   • Seal v Chief Constable of South Wales Police ([2007] UKHL 31)
     case
   • Basab Inc v Accufit Investment Inc and Anor (BVIHCMAP2014/0020)
     case
   • Glory Advance International Limited v Merit Fortune Holdings Ltd (BVIHC (COM) 2015/0090)
     case
   • ZVI Dekel v Clerkenwell Lifestyle Limited (BVIHC (COM) 2024/0466)
     case
   • Cream Holdings Ltd v Banerjee ([2005] 1 AC 253)
     case
   • Royal Brunei Airlines Sdn Bhd v Tan ([1995] 2 AC 378)
     case
   • Kuwait Oil Tanker Co SAK v Al Bader (No 3) ([2000] 2 All ER (Comm) 271 (CA))
     case