3/7/2018
START DATE
END DATE
23-Mar-18
Capital Partners Securities Co. Ltd. v. Sturgeon Central Asia Balanced Fund Ltd.
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Court of Appeal for Bermuda
Commercial Law Corporate Law
Baker President; Bell JA; Clarke JA
Mark Diel Katie Tornari
Stephen Atherton QC Samuel Riihiluoma
FACTS OF THE CASE:
The case concerned the rights of shareholders to resolve to wind up the company at the 2014 AGM wrongful denial of this right by another class of shareholders and wrongful amendment of Bye-Law conferring the right. Capital Partners Securities Co. Ltd. was the sole subscriber for 8000000 Participating Shares and acted as the Fund?s Distributor and Placement Agent. The core issue was whether it was just and equitable to wind up the company based on the rights provided in the Bye-Laws and the Placing Memorandum.
SUMMARY:
In Favour Of Plaintiff/Claimant
OUTCOMES:
RULED IN FAVOUR OF:
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.
The case concerned the rights of shareholders to resolve to wind up the company at the 2014 AGM wrongful denial of this right by another class of shareholders and wrongful amendment of Bye-Law conferring the right. Capital Partners Securities Co. Ltd. was the sole subscriber for 8000000 Participating Shares and acted as the Fund?s Distributor and Placement Agent. The core issue was whether it was just and equitable to wind up the company based on the rights provided in the Bye-Laws and the Placing Memorandum.