In the recent case of Mitchell v Al Jaber [2024] EWCA Civ 423, the Court of Appeal confirmed that a shareholder and director may still be subject to a fiduciary duty when purporting to transfer company property, even after the company enters liquidation. The decision was made in relation to British Virgin Island (BVI) law, but on the basis of English case authorities.
Background
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Reynolds Porter Chamberlain, Liquidation, Initial public offerings
In April 2019, the Institutional Limited Partners Association (“ILPA”) released a set of considerations for Limited Partners and General Partners with respect to General Partner-led secondary fund restructurings (the “ILPA Memo”). The ILPA Memo can be viewed here.
USA, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Weil Gotshal & Manges LLP