Take 10

In this episode of our Take10 podcast, Ian Mann and Jayesh Chatlani discuss their experiences in the Privy Council, the final court of appeal for offshore Caribbean jurisdictions.

In this episode of our Take10 podcast, Ian Mann and Dayton Riddle discuss common law recognition and the case of Supreme Tycoon.

Key takeaways: 

• The Hong Kong Court determined that it could recognise a foreign voluntary liquidation of a Company.
• The Court distinguished Supreme Tycoon from Lord Sumption’s obiter dicta in Singularis noting that the key is whether the foreign proceeding was “a process of collective enforcement of debts for the benefit of a general body of creditors.”
• The mere fact that the foreign liquidation was voluntary did not bar the Hong Kong Court from recognition and assistance under the principle of modified universalism.

In this episode of our Take10 podcast, Ian Mann and Gareth Murphy discuss lessons learned from the recent shareholder case of Dinglis.

Key takeaways: 

• There was no quasi-partnership;
• There was no unfair prejudice for breach of understandings;
• There was unfair prejudice for breach of fiduciary duties; and
• A minority discount applies as no quasi-partnership existed.