6/17/2011
START DATE
END DATE
6/17/2011
PricewaterhouseCoopers Bermuda (a firm) v Kingate Global Fund Ltd (in Liquidation) and Kingate Euro Fund Ltd. (in Liquidation)
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Court of Appeal for Bermuda
Commercial Law Company Law
Edward Zacca President Anthony Evans JA Scott Baker JA
FACTS OF THE CASE:
PWC sought leave to appeal against orders made under section 195 of the Companies Act 1981 related to their role as auditors for funds operating as 'Feeder Funds' for Bernard L. Madoff Investment Securities LLC. The funds collapsed in 2008.
SUMMARY:
Jurisdiction to make Winding-Up Orders Legal standing of PWC
OUTCOMES:
Leave to appeal dismissed affirming the lower court's decision
RULED IN FAVOUR OF:
Respondents (Kingate Global Fund Ltd Kingate Euro Fund Ltd)
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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PricewaterhouseCoopers Bermuda (a firm) v Kingate Global Fund Ltd (in Liquidation) and Kingate Euro Fund Ltd. (in Liquidation)
PWC sought leave to appeal against orders made under section 195 of the Companies Act 1981 related to their role as auditors for funds operating as 'Feeder Funds' for Bernard L. Madoff Investment Securities LLC. The funds collapsed in 2008.