Thursday 26 September 2013

British Virgin Islands: relief for unfair prejudice under the Business Companies Act 2004

The Eastern Caribbean Supreme Court (Court of Appeal) gave judgment earlier this month in Chemtrade Ltd. v Fuchs Oil Middle East Ltd., a case concerning the operation of section 184I ("prejudiced members") of the BVI Business Companies Act 2004: see here (pdf). The court upheld the trial judge's decision to make an order under section 184I to amend a company's articles of association. In doing so it discussed the scope of the court's discretion to provide relief in respect of unfairly prejudicial conduct: this discretion, it held, was unfettered.

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