11/26/2009
START DATE
END DATE
15-Nov-12
Gottex et al v. New Stream Capital Fund Limited
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda Commercial Court
Commercial Law Segregated Accounts Act 2000
Ian RC Kawaley CJ
Mr Jan Woloniecki Ms Kehinde George
Ms Kiernan Bell Ms Nicole Tovey
FACTS OF THE CASE:
summary of The Plaintiffs contested the validity of a restructuring plan by the Defendant a segregated accounts company. The Court initially ruled in favor of the Plaintiffs appointing a Receiver for Classes C and I. The dispute evolved around the allocation of litigation costs.
SUMMARY:
Whether litigation costs should be allocated to the Defendant's general account or its segregated accounts and if so to which ones.
OUTCOMES:
Costs awarded to the Plaintiffs to be payable by the Defendant out of the assets of all segregated accounts on a pro rata basis including those accounts in which the Plaintiffs are beneficially interested.
RULED IN FAVOUR OF:
Plaintiff/Claimant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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Gottex et al v. New Stream Capital Fund Limited
summary of The Plaintiffs contested the validity of a restructuring plan by the Defendant a segregated accounts company. The Court initially ruled in favor of the Plaintiffs appointing a Receiver for Classes C and I. The dispute evolved around the allocation of litigation costs.