Fulltext Search

The continued fall-out of the high-profile collapse of the Three Arrows crypto fund has seen another development, with the BVI Court permitting alternative service by Twitter after the collapsed fund's directors failed to appear for examination before the BVI Court.(1)

Facts
Insolvency Act 2003
Comment


In the Three Arrows case,(1) the BVI Court has endorsed what is believed to be its first extra-territorial order summoning directors of a BVI company (in liquidation) to appear for private examination by joint liquidators.

Facts

Introduction

The UK Supreme Court has recently delivered a landmark decision in the case of BTI 2014 LLC v Sequana S.A. [2022] UKSC 25. The decision is of great importance as the Supreme Court considered in detail whether the trigger for the directors’ duty to consider creditors’ interest is merely a real risk, as opposed to a probability of or close proximity to, insolvency.

Background

簡介

英國最高法院最近在BTI 2014 LLC v Sequana S.A. [2022] UKSC 25一案中頒下了重要裁決,其重要之處在於最高法院深入探討了董事考慮債權人權益的責任,是只需出現真正的無力償債風險便已觸發,還是在相當可能或瀕臨無力償債時才觸發。

背景

本案的第二及第三答辯人為AWA公司(「該公司」)的董事。於2009年5月,他們安排該公司向該公司唯一股東(「第一答辯人」)派發1.35億歐元的股息(「該股息」),以抵銷第一答辯人結欠該公司的債務。該公司在支付該股息時,其資產負債表及現金流均處於具償債能力的狀況。然而,該公司有一項與污染相關而金額未定的長期或然負債,導致該公司產生未來可能無力償債的真正風險。