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    Mauritius: Landmark decision - The Supreme Court of Mauritius rules on priority of creditors in receivership case
    2024-03-19

    Overview

    Filed under:
    Mauritius, Insolvency & Restructuring, Litigation, Bowmans
    Authors:
    Gilles Athaw , Anu Matikola
    Location:
    Mauritius
    Firm:
    Bowmans
    Balgobin M. L. V. Maubank Ltd & Anor 2024 SCJ 145 - Case Summary
    2024-04-08

    The Court of Civil Appeal (CCA) delivered an interesting judgment on the adequacy of affidavit evidence when making a bankruptcy order. The CCA, acting solely on the basis of affidavit evidence, upheld an order of the Bankruptcy Court adjudging the appellant (Mr Balgobin) bankrupt pursuant to Section 8 of the Insolvency Act. The issues raised on appeal by the Appellant and which the CCA had to determine on were:

    Filed under:
    Mauritius, Insolvency & Restructuring, Litigation, Appleby
    Authors:
    Yahia Nazroo , Dylan Mannikum , Fatema Mohidinkhan
    Location:
    Mauritius
    Firm:
    Appleby
    Mauritius: Landmark decision - Supreme Court revives Square Rock Ltd despite dissolution
    2024-03-14

    Overview

    Filed under:
    Mauritius, Insolvency & Restructuring, Litigation, Bowmans
    Authors:
    Gilles Athaw
    Location:
    Mauritius
    Firm:
    Bowmans
    Mauritius: Administrators appointed to wind up limited life companies to now abide by the provisions of the Insolvency Act
    2024-06-14

    Overview

    Filed under:
    Mauritius, Insolvency & Restructuring, Bowmans
    Authors:
    Nafiisah Jeehoo , Rajiv Gujadhur , Sadia Soodeen
    Location:
    Mauritius
    Firm:
    Bowmans
    East Africa: Restructuring Quarterly Bulletin - April 2024
    2024-04-17

    KENYA

    Economic overview

    Filed under:
    Global, Kenya, Mauritius, Tanzania, Uganda, USA, Company & Commercial, Insolvency & Restructuring, Litigation, Bowmans, Corporate governance, Bitcoin, Electric vehicle, Cryptocurrency, Gaming, US Securities and Exchange Commission, European Commission, Commodity Futures Trading Commission (USA), NASDAQ, FTX, Companies Act 2006 (UK)
    Authors:
    Mohammedzameen Nazarali , Rajiv Gujadhur , Charles Mmasi , Joyce Mbui , Richard Harney
    Location:
    Global, Kenya, Mauritius, Tanzania, Uganda, USA
    Firm:
    Bowmans
    Statutory demands - a review of Recent Decisions
    2024-04-26

    INSOLVENCY – The bankruptcy division of Mauritian Supreme Court re-affirms the test to determine the existence of a substantial and genuine dispute when setting aside a statutory demand. In this article, we review the recent determinations of the Bankruptcy Division of the Supreme Court of Mauritius (Bankruptcy Division) in which it re-affirmed the tests to determine an application to set aside a statutory demand under section 181 of the Insolvency Act 2009 (‘Insolvency Act’).

    Filed under:
    Mauritius, Insolvency & Restructuring, Litigation, Appleby
    Authors:
    Sharmilla Bhima , Suhaylah Juman , Dylan Mannikum
    Location:
    Mauritius
    Firm:
    Appleby
    Directors' duties in the face of insolvency
    2024-04-26

    The duties of directors in relation to companies in Mauritius are laid out under the Companies Act 2001 (‘Companies Act’) and more specifically under Section 143 which sets out in detail that directors have a duty to act in good faith and in the best interests of the company on which they are appointed.

    Filed under:
    Mauritius, Company & Commercial, Insolvency & Restructuring, Litigation, Appleby
    Authors:
    Malcolm Moller , Melissa Virahsawmy Naik
    Location:
    Mauritius
    Firm:
    Appleby
    Receivership: an enforcement mechanism for lenders
    2024-04-29

    In a world of business, unforeseen circumstances can often arise that lead a company to financial distress or near insolvency. During such times, the appointment of a receiver is a common legal remedy that serves to protect the interests of lenders.

    Filed under:
    Mauritius, Insolvency & Restructuring, Litigation, Appleby, Insolvency, Receivership
    Authors:
    Muhammad Aadil Koomar , Suhaylah Juman
    Location:
    Mauritius
    Firm:
    Appleby
    Mauritius: Companies in financial difficulty and the COVID-19 (Miscellaneous Provisions) Act, 2020
    2020-05-18

    Due to the global Coronavirus (COVID-19) pandemic and its effects on the Mauritian economy, on 15 May 2020, the Government of Mauritius enacted the COVID-19 (Miscellaneous Provisions) Act 2020 (the “Act”) which is intended to amend a number of existing laws so as to cater for the changes and impacts brought by the pandemic on the country, including the financial distress that certain companies are and/or will be facing during the pandemic.

    Duty of directors on Insolvency

    Filed under:
    Global, Mauritius, Banking, Insolvency & Restructuring, ENS, Board of directors, Coronavirus
    Authors:
    Anne Sophie Lenette , Thierry Koenig
    Location:
    Global, Mauritius
    Firm:
    ENS
    Offshore security enforcement
    2017-03-01

    Offshore security enforcement Offshore security enforcement /3 Contents 4 Introduction 5 British Virgin Islands (BVI) 8 Cayman Islands 11 Isle of Man 14 Guernsey 18 Jersey 21 Luxembourg 24 Malta 27 Mauritius 30 About us 31 Key contacts Offshore security enforcement 4\ Introduction This briefing document summarises the key issues in enforcing security in the countries listed and is a general guide. Taylor Wessing does not have offices in the jurisdictions contained in this guide, but has called on the support of the firms acknowledged at the back.

    Filed under:
    British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Luxembourg, Malta, Mauritius, United Kingdom, Capital Markets, Company & Commercial, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Taylor Wessing, UNCITRAL
    Location:
    British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Luxembourg, Malta, Mauritius, United Kingdom
    Firm:
    Taylor Wessing

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