When does a redemption occur?

The status of redeeming members from a fund can be very important in the event of a fund going into liquidation. Those who have redeemed their shares, but not yet received payment, will outrank continuing members when it comes to distribution of the net assets of the estate (Somers Dublin v Monarch Pointe (HCVAP 2011/040, 11…

Appointment of liquidator: a “judicial” discretion

Appointment of liquidator: a “judicial” discretion It is often said that the Court’s power to appoint a liquidator over a company is discretionary in nature.  Indeed, the BVI court’s discretion is explicitly enshrined in statute: section 167 of the Insolvency Act, 2003 (the “Act”) grants the Court broad powers at the hearing of an application…