Zvi Dekel v Clerkenwell Lifestyle Limited (Eastern Caribbean Supreme Court, Court of Appeal BVIHCMAP2025/0017 and BVIHCMAP2025/0018)

Procedural record

1. 22 September 2026British Virgin Islands

   22 September 2026British Virgin Islands

   Judgment of the Eastern Caribbean Supreme Court, Court of Appeal in the cases BVIHCMAP2025/0017 and BVIHCMAP2025/0018 dated 22 September 2026

   Eastern Caribbean Supreme Court, Court of Appeal

   Case no.

   BVIHCMAP2025/0017; BVIHCMAP2025/0018

   Decision summary

   The Court of Appeal dismissed both appeals, dismissed the application for leave to adduce fresh evidence, affirmed the lower court’s orders refusing leave to bring derivative proceedings and declining to revoke or vary that refusal, and ordered the appellant to pay the relevant costs. It held that the proposed claims lacked a realistic prospect of success on several independent grounds, while concluding that the lower court had gone too far in treating all possible loss as belonging only to the subsidiary.

   Participants

   Application

   Appeal against the 4 March 2025 order refusing leave to bring derivative proceedings — Dismissed

   Application

   Appeal against the 10 June 2025 order declining to revoke or vary the 4 March 2025 order — Dismissed

   Application

   Application for leave to adduce fresh evidence — Dismissed

   Zvi Dekel

   Representative

   Tom Weisselberg, KC (For: Zvi Dekel)

   Representative

   Ben Woolgar (For: Zvi Dekel)

   Representative

   Richard Evans (For: Zvi Dekel)

   Clerkenwell Lifestyle Limited

   Representative

   Ryan Turner (For: Clerkenwell Lifestyle Limited)

   Representative

   Tamara Cameron (For: Clerkenwell Lifestyle Limited)

   Eastern Caribbean Supreme Court, Court of Appeal

   Judge

   P. Nicola Byer

   Judge

   Gerard St. C. Farara

   Judge

   Marlene I. Carter

   Authorities cited

   11

   • BVI Business Companies Act, 2004
     statute
   • BVI Insolvency Act
     statute
   • Ladd v Marshall [1964] 1 WLR 1489
     case
   • Golden Meditech Stem Cells (BVI) Company Limited v Blue Ocean Creation Investment Hong Kong Limited and Blue Ocean Structure Investment Company Limited (BVIHCMAP2023/0022, 9 July 2025)
     case
   • Suppipat and other companies v Narongdej and others [2023] EWHC 1988 (Comm)
     case
   • Durnont Enterprises Ltd v Fazita Investment Ltd [2024] B.C.L.C. 1
     case
   • Re City Equitable Fire Insurance Company Ltd [1925] 1 Ch 407
     case
   • Emerald Bay Worldwide Limited v Barclays Wealth Directors (Guernsey) Limited, Guernsey Court of Appeal, Judgment 02/2014
     case
   • Ultraframe (UK) Ltd v Fielding and others, EWHC 1638 (Ch)
     case
   • Sevilleja v Marex Financial Ltd [2020] UKSC 31
     case
   • Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204
     case