Privy Council emphasizes primary role of trial judge as decision-maker in shareholder disputes

In the context of an unfair prejudice claim, the Privy Council recently overturned the decision of the Eastern Caribbean Court of Appeal and restored the decision of Leon J. of the Commercial Court of the British Virgin Islands, in effect ordering a mandatory buy-out, at a price to be determined by the court, of minority shareholdings by the majority shareholder whose acts were found to be oppressive, unfairly discriminatory and unfairly prejudicial to the minority, pursuant to section 184I of the BVI Business Companies Act.

Related briefings

BMA proposes internationally active insurance group concept for Bermuda

In December 2020, as part of its review to update Bermuda’s commercial insurance regime, the Bermuda Monetary Authority issued a consultation paper proposing the introduction of an Internationally Active Insurance Group concept to meet the principles and standards of the International Association of Insurance Supervisors’ Common Framework.

Insurance Bulletin Spring 2021

Although the full impact of Covid-19 on the re/insurance industry remains unclear, the need to retain capital to meet potential losses has contributed to a general hardening of the market after 15 years of soft market conditions characterised by excess capacity, low prices and more relaxed policy terms.

Private Client Bulletin – April 2021

The fourth edition of Private Client Bulletin brings you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia.

Cayman Islands private client legislative update

It’s trite to say that 2020 was a year marked by change. Having being bombarded with a variety of unsolicited adjustments to our daily lives, we could be forgiven for having developed a collective fear of change over the last 12 months. Fortunately, the legislative changes affecting Cayman Islands’ trust and private wealth practitioners do not align with the general trend of 2020. On the contrary, the pace and direction of change has been much more palatable as legislators have continued with the incremental modernisation of the Cayman Islands’ trusts law and related legislation.

Latest Briefings

Irish regulation in focus: Culture and individual accountability

Increasingly, there is a focus on culture and individual accountability in regulated firms. This has been heightened by various consumer protection issues which have been investigated including the tracker mortgage examination; high profile enforcement actions and the recent engagement with insurers on business interruption cover during COVID-19. Consistently, the Central Bank of Ireland (“Central Bank”) […]

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Aggreko

Kirkland and Slaughters lead on Aggreko’s £2.3bn sale

Kirkland & Ellis has taken the lead role for the private equity bidders on the £2.3bn buyout of equipment supplier Aggreko. TDR Capital turned to Kirkland yet again after last year seeking the firm’s counsel on its £6.8bn purchase of ASDA. Partners David Holdsworth and Mark Thompson led for TDR and I Squared Capital, with […]

Melanie Tether

Barrister of the week: Old Square Chambers’ Melanie Tether

Last week’s judgment regarding workers’ rights was a victory of epic proportions for those in the gig economy, as the Supreme Court slapped down Uber’s argument and sided with the drivers. One of the counsel members taking part in the hearing was Old Square’s Melanie Tether, who supported chambers’ colleague Oliver Segal QC after the […]

St Pauls London

Squires energy partner leaves for K&L Gates

K&L Gates has brought in an energy disputes partner from Squire Patton Boggs (SPB). Ben Holland arrives at K&L Gates as the first hire it has made in London in nearly a year. Holland joined SPB in 2014 as its first lateral hire in London after the Squire Sanders and Patton Boggs union. He had […]

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