Conyers Dill & Pearman

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Important judgment in PwC v Saad Investments Company and Singularis Holdings

The Court of Appeal for Bermuda (Zacca P, Auld JA and Bell AJA) has delivered an important judgment about the jurisdiction of the Bermuda court to assist foreign liquidators by ordering the production of documents by persons in Bermuda.

The interplay or conflict between the decisions of the Privy Council and the UK Supreme Court in Cambridge Gas v Navigator [2007] 1 AC 508, Rubin v Eurofinance [2012] UKSC 46 and Al Sabah v Grupo Torras [2005] 2 AC 333 has been a source of great debate and litigation in the world of cross‐border insolvency.

The Bermuda Court of Appeal has provided clarity as to the common law position (at least in Bermuda) but less clarity in relation to the scope and control of statutory parallel insolvency procedures…

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