Article
Permission Denied: The Court Of Appeal Clarifies The Threshold For Derivative Claims And The Scope Of Directors’ Indemnity
A BVI Court of Appeal decision clarifies the threshold for obtaining leave to bring derivative claims, examining whether directors' indemnity provisions in company articles can shield against shareholder derivative actions. The judgment addresses critical questions about the scope of statutory indemnities, the evidentiary burden required for fraud allegations, and whether shadow directors fall within BVI's statutory definition.
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