Case Analysis
Belvedere Insurance Company Limited (In Liquidation) v. Caliban Holdings Limited, In the Supreme Court of Bermuda Companies (Winding-Up) 1999: No. 80, 26 March 1999 (Mitchell J.)
In Belvedere Insurance Company Limited (In Liquidation) v. Caliban Holdings Limited, Mr. Justice Mitchell gave judgment on 26 March 1999 on the hearing of a Petition for a winding-up order brought by the joint liquidators of Belvedere Insurance Company Limited ("Belvedere") against its parent company Caliban Holdings Limited ("Caliban"). The joint liquidators of Belevdere had been appointed interim joint provisional liquidators of Caliban , by ex parte order dated 5 March 1999. Caliban, citing well-known English and Bermudian authorities, sought to dismiss the petition and discharge the appointment of the provisional liquidators, on the grounds that the debt which formed the basis of the petition was disputed. That debt was a dividend of $2.2m paid by Belvedere to Caliban in 1996. The joint
