4/3/2023
START DATE
END DATE
7/28/2023
In the Matter of Omnia Ltd
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
COMMERCIAL JURISDICTION COMPANIES (WINDING-UP)
The Hon. Chief Justice Hargun
Mr Christian Luthi of Conyers Dill & Pearman Limited
Ms Christina Herrero of Marshall Diel & Myers Limited
FACTS OF THE CASE:
Omnia Ltd incorporated as Sage Life (Bermuda) Ltd in 2000 underwent several changes and was acquired by PBX in 2017. The court examined if Omnia established segregated accounts for investments made in or policies issued by it specifically the Policy and shares in Liffey International Holdings Limited managed by Stonehage for the Ackerman-Robins family since 2002
SUMMARY:
Whether Omnia established segregated accounts and if assets are exclusively for the benefit of such accounts
OUTCOMES:
Policy and shares held by Omnia in Liffey are part of Omnia Segregated Account sanctioned novation agreement transferring shares to a segregated account of Lombard International Global Insurance Ltd
RULED IN FAVOUR OF:
Applicants (Omnia Ltd in liquidation)
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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In the Matter of Omnia Ltd
Omnia Ltd incorporated as Sage Life (Bermuda) Ltd in 2000 underwent several changes and was acquired by PBX in 2017. The court examined if Omnia established segregated accounts for investments made in or policies issued by it specifically the Policy and shares in Liffey International Holdings Limited managed by Stonehage for the Ackerman-Robins family since 2002