5/11/2009
START DATE
END DATE
5/13/2009
Validus Holdings Ltd. v. IPC Holdings Ltd. IPC Limited and Max Capital Group Ltd.
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
Corporate Law Mergers and Acquisitions
Richard Ground Chief Justice
Plaintiff's Lawyers: Richard Snowden Q.C. John Riihiluoma
Defendant's Lawyers: Robert Hildyard Q.C. Allan W. Dunch David Chivers Q.C. Christian Luthi
FACTS OF THE CASE:
Dispute over terms and legality of a proposed merger between IPC Holdings Ltd. and Max Capital Group Ltd. and an alternative proposal by Validus Holdings Ltd.
SUMMARY:
Legality of termination fee and 'no-talk' provision in Max Amalgamation Agreement breach of directors' duties shareholders' rights
OUTCOMES:
Outcome: Application for expedited trial dismissed
RULED IN FAVOUR OF:
Defendants
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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