In a judgment handed down by the British Virgin Islands High Court on 25 July 2019, Renaissance Ventures Ltd and another were awarded rectification of the share register of a billion dollar corporate group, Comodo Holdings Ltd.
The proceedings were acrimonious and hard fought over some time, with the three week trial in June 2019 necessitating five days of cross-examination of Comodo's co-founder and CEO. The issues revolved around allegations of misrepresentation, in this case alleged against a person now deceased, and associated interpretation of subscription agreement. Conyers partner Mark Forte led a team of associates including Lauren Peaty and Alecia Johns, under leading counsel Paul Chaisty QC.
In a thoroughly detailed 100 page judgment, Justice Jack (Ag), made findings of dishonesty, credibility and law, all of which taken together vindicated Conyers' client position and rendered a decisive victory for the counter-claimant team. A 35% shareholder deprived of any recognition as such had, within 24 hours of judgment, been added to the register and injunctions as to missing assets granted to assist the newly pending and imminent unfair prejudice action to recover assets removed before trial.
Conyers specialises in complex cross border shareholder actions, including minority oppression claims with asset recovery measures and valuation calculations. We work with clients to identify and achieve strategic goals, often with an international team of counsel from various jurisdictions.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
