7/28/2017
START DATE
END DATE
1/16/2018
Capital Partners Securities Co. Ltd v Sturgeon Central Asia Balanced Fund Ltd
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
Commercial Law
Registrar S. Subair Williams
Katie Tornari Marshall Diel & Meyers Ltd
Steven White Cox Hallett Wilkinson Ltd
FACTS OF THE CASE:
CPS invested in the Fund expecting to wind it up by December 31 2017. Amendments to bye-laws in 2014 removed this expectation leading to legal challenges by CPS for wrongful exclusion from voting rights on Fund's dissolution
SUMMARY:
Construction of Bye-Law 78 commercial context fixed term investment 'just and equitable' grounds
OUTCOMES:
CPS unsuccessful in proving bad faith in bye-law amendment appeal filed against exclusion from voting on amendment
RULED IN FAVOUR OF:
Defendant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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Capital Partners Securities Co. Ltd v Sturgeon Central Asia Balanced Fund Ltd
CPS invested in the Fund expecting to wind it up by December 31 2017. Amendments to bye-laws in 2014 removed this expectation leading to legal challenges by CPS for wrongful exclusion from voting rights on Fund's dissolution