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09 October 2018
Andrew Thorp Stanford v Akers: asking a BVI court to reverse a liquidator's decision

British Virgin Islands - Harney Westwood & Riegels

In a recent case, the BVI Court of Appeal addressed standing in the context of applications under Section 273 of the Insolvency Act 2003, whereby an aggrieved person can ask the courts to reverse or vary a liquidator's decision. The court held that, as a shareholder of a company in liquidation, the appellant was an outsider to the liquidation who had no legitimate interest that entitled him to standing under Section 273.

Authors: Andrew Thorp, Vicky Lord, Laura de Heer
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Mathieu Laurent Court of Appeal rules on prorogation of general shareholders' meetings

Luxembourg - Luther SA

The Court of Appeal recently ruled on the prorogation of general shareholders' meetings. Although this decision confirms the existing case law on prorogation, it is notable as it is the first time that a court has ruled that a prorogation request can be made before, and not only during, a shareholders' meeting. Ultimately, the decision strengthens the rights of minority shareholders.

Authors: Mathieu Laurent, Maurice Goetschy
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