29 Augu 2019, 11 October 2019
START DATE
END DATE
12-Nov-19
APEX FUND SERVICES LTD & MR. PETER HUGHES vs MR. MATTHEW CLINGERMAN & SILK ROAD FUNDS LIMITED
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda
COMMERCIAL JURISDICTION
Shade Subair Williams J
Mr. Alex Potts QC and Ms. Laura Williamson
Mr. Jeffrey Elkinson
FACTS OF THE CASE:
APEX provided administration services for the Company under an Administration Agreement since 1 November 2011. The case involves claims of mismanagement and misappropriation of $10000000.00 invested in the M3 Fund by Goodwill allegedly directed by Mr. Ali with unauthorized payments to various entities leading to legal actions in both New York and Bermuda
SUMMARY:
Jurisdictional challenge contractual and non-contractual anti-suit injunction forum non conveniens comity
OUTCOMES:
Interim anti-suit injunction granted restraining Defendants from proceeding in New York or elsewhere outside Bermuda mandatory injunctive relief refused but renewed on an inter partes basis
RULED IN FAVOUR OF:
Plaintiff/Claimant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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APEX FUND SERVICES LTD & MR. PETER HUGHES vs MR. MATTHEW CLINGERMAN & SILK ROAD FUNDS LIMITED
APEX provided administration services for the Company under an Administration Agreement since 1 November 2011. The case involves claims of mismanagement and misappropriation of $10000000.00 invested in the M3 Fund by Goodwill allegedly directed by Mr. Ali with unauthorized payments to various entities leading to legal actions in both New York and Bermuda