BC Capital Group et al: foreign assistance in Guernsey fund disputes
The Royal Court of Guernsey has, over the last 18 months, been the venue of a strongly contested dispute fought out between a receiver appointed by the US courts to the assets and businesses of Nikolai Battoo and his BC Capital Group (the US receiver) and liquidators (the BVI liquidators) appointed over the British Virgin Islands (BVI) companies acting as investment funds (hedge funds).
The cross-border nature of the dispute has given rise to a number of decisions touching on recognition and assistance to foreign insolvency practitioners, receivers and government agencies. This article will look briefly at three of those decisions to examine how the Guernsey court is approaching its role in assisting these foreign parties…
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