Company
Re Sturgeon Central Asia Balanced Fund Ltd (in liquidation) [2019] EWHC 1215 (Ch), [2019] All ER (D) 96 (May)
The applicant provisional liquidators’ application for recognition in Great Britain of a company’s liquidation as a ‘foreign main proceeding’ under the Cross-Border Insolvency Regulations 2006 (SI 2006/1030) succeeded. The Chancery Division held that s 161 of the Bermuda Companies Act 1981 could fairly be described as a ‘law relating to insolvency’, as per Art 2(g) of the UNICTRAL model law. It was clearly right that a winding up on just and equitable grounds could qualify for recognition in circumstances where the entity was insolvent.
Contract
116 Cardamon Ltd v MacAlister and another [2019] EWHC 1200 (Comm), [2019] All ER (D) 97 (May)
The claimant company’s claim succeeded, in part, in a dispute concerning the valuation of a company that it had acquired through a share purchase agreement. The Commercial Court held that there had been breaches of warranty regarding certain of the company’s accounts. Among other things, the accounts had underrated the company’s liability to pay claims under a scheme, and there had been
