Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    How the Automatic Stay in Bankruptcy Can Affect Net Asset Value Facilities
    2024-09-10

    Executive Summary

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Mayer Brown, Due diligence, Net asset value, United States bankruptcy court
    Authors:
    Sean T. Scott , Ryan M. Michalko , Kiel A. Bowen
    Location:
    USA
    Firm:
    Mayer Brown
    PIF revisited - no right not to be diluted
    2011-10-07

    On 5 October 2011 Justice Barrett of the Supreme Court of NSW handed down a decision in Centro Retail Limited and Centro MCS Manager Limited in its capacity as Responsible Entity of the Centro Retail Trust [2011] NSWSC 1175 (“Centro”) where he found that the responsible entity of Centro Retail Trust would be justified in modifying the constitution of the trust without unitholder approval to a insert a provision permitting the issue of units at a price different to that provided for by the pre-existing provisions.

    Filed under:
    Australia, New South Wales, Insolvency & Restructuring, Litigation, King & Wood Mallesons, Retail, Security (finance), Investment funds, Market value, Net asset value, Unilateralism, Australian Securities Exchange, ING Group, Australia and New Zealand Banking Group, Constitutional amendment, Corporations Act 2001 (Australia), Constitution, Federal Court of Australia, New South Wales Supreme Court
    Authors:
    Brian Murphy
    Location:
    Australia
    Firm:
    King & Wood Mallesons
    Fairfield Sentry - new guidance from BVI Court
    2016-03-31

    After the decision of the Privy Council in April 2014, the Fairfield Sentry saga continued recently with the new judgment of Justice Leon concerning the status of related US Bankruptcy Court proceedings.

    Facts

    Filed under:
    British Virgin Islands, Insolvency & Restructuring, Litigation, Harneys, Articles of association, Net asset value
    Authors:
    Claire Goldstein , Phillip Kite , Vicky Lord
    Location:
    British Virgin Islands
    Firm:
    Harneys
    BVI law holds even keel between rights of investors and rights of mutual funds
    2012-10-31

    Fund investors and the fund industry globally should take note of the recent decision of the Eastern Caribbean Supreme Court Appellate Division’s (the “Court of Appeal”) in Madoff related litigation.  Essentially the Court of Appeal found that monies could not be recovered from former investors by the liquidators of Fairfield Sentry Limited (“Fairfield”) a BVI investment fund and investor in Bernard L Madoff Investments Securities limited (“BLMIS”), where those investors had redeemed their shares for significant value before BLMIS collapsed.. 

    Filed under:
    British Virgin Islands, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, White Collar Crime, O'Neal Webster, Consideration, Investment funds, Net asset value
    Authors:
    Nadine Whyte
    Location:
    British Virgin Islands
    Firm:
    O'Neal Webster
    Court of Appeal hands down judgement in Fairfield
    2012-08-21

    History of the Case

    On 13 June 2012, the Court of Appeal handed down its judgment in the claims that have been brought by the liquidators of Fairfield Sentry Limited ("Fairfield") against a number of investors that redeemed out of the fund.  The Court of Appeal has upheld the decision of the trial judged albeit, in some instances, for different reasons.  Fairfield was a fund that invested into in Bernard L.

    Filed under:
    British Virgin Islands, Insolvency & Restructuring, Litigation, Ogier, Net asset value
    Location:
    British Virgin Islands
    Firm:
    Ogier
    BVI court hands down preliminary issues decision in claims brought by liquidators of Bernard Madoff "feeder fund"
    2011-09-16

    On 16 September 2011 judgment was handed down by the BVI Commercial Court in a number of cases that have been brought by the liquidators of Fairfield Sentry Limited (“Fairfield”), a "feeder fund" into Bernard L Madoff Investment Securities Limited (“BLMIS”), against a number of investors that historically redeemed out of the fund (the "Fairfield judgment"). Subject to any appeal, the Fairfield judgment should put an end to the liquidators’ claims in the BVI.

    Filed under:
    British Virgin Islands, Insolvency & Restructuring, Litigation, Ogier, Share (finance), Consideration, Liquidation, Articles of association, Liquidator (law), Net asset value
    Location:
    British Virgin Islands
    Firm:
    Ogier
    Redemption of shares and consideration
    2011-09-22

    In a decision of interest in a number of jurisdictions where these types of claims have been made, the BVI Commercial Court handed down judgment today in the claim brought by the liquidators of Fairfield Sentry Limited, a BVI fund which invested in Bernard Madoff’s investment vehicle.

    Filed under:
    British Virgin Islands, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, White Collar Crime, Harneys, Share (finance), Shareholder, Interest, Consideration, Liquidation, Investment funds, Articles of association, Liquidator (law), Net asset value, Barclays, Commercial Court (England and Wales)
    Authors:
    Phillip Kite
    Location:
    British Virgin Islands
    Firm:
    Harneys
    Case law update
    2011-11-22

    Redemption of shares and consideration
    Discounted valuation
    Restoration
    Finality of foreign judgments

     

    Redemption of shares and consideration

    Filed under:
    British Virgin Islands, Capital Markets, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, White Collar Crime, Harneys, Share (finance), Liquidation, Investment funds, Net asset value
    Authors:
    Phillip Kite
    Location:
    British Virgin Islands
    Firm:
    Harneys
    When is a redemption effective?: Reserve International Liquidity Fund Ltd
    2010-04-30

    The British Virgin Island’s Commercial Court has recently delivered a decision in Western Union International Limited v Reserve International Liquidity Fund Ltd which addresses the issue of when during the redemption process a redeeming investor becomes a creditor of the fund and is therefore entitled to apply for the appointment of a liquidator.

    Filed under:
    British Virgin Islands, Capital Markets, Insolvency & Restructuring, Litigation, Ogier, Share (finance), Shareholder, Dividends, Market liquidity, Liquidation, Articles of association, Liquidator (law), Unsecured creditor, Lehman Brothers cases, Net asset value, Lehman Brothers, Companies Act 2006 (UK)
    Authors:
    Simon Schilder
    Location:
    British Virgin Islands
    Firm:
    Ogier
    When is a redemption effective: Reserve International Liquidity Fund Ltd
    2010-05-12

    The British Virgin Islands Commercial Court has recently delivered a decision in Western Union International Limited v Reserve International Liquidity Fund Ltd which addresses the issue of when during the redemption process a redeeming investor becomes a creditor of the fund and is therefore entitled to apply for the appointment of a liquidator.

    Filed under:
    British Virgin Islands, Insolvency & Restructuring, Litigation, Ogier, Share (finance), Shareholder, Dividends, Market liquidity, Liquidation, Articles of association, Unsecured creditor, Lehman Brothers cases, Net asset value, Lehman Brothers, Companies Act 2006 (UK)
    Authors:
    Simon Schilder
    Location:
    British Virgin Islands
    Firm:
    Ogier

    Pagination

    • Current page 1
    • Page 2
    • Page 3
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days