Harneys continues to provide a regular roundup of recent case
notes from the British Virgin Islands Commercial Court. In this
edition we report on recent court guidance on leave to bring
derivative proceedings and double derivative actions, and the
interaction between unfair prejudice and derivative actions.
Court provides guidance on leave to bring derivative
proceedings and double derivative
actions
In a recent decision concerning sections 184C and D of the BVI
Business Companies Act 2004, Microsoft made an application for
leave under section 184C to bring a derivative claim in the Court
of Chancery of the State of Delaware in the name of a BVI company,
Vadem Limited ("Vadem BVI"). Microsoft held just under
12% of Vadem. Vadem BVI itself had a wholly owned subsidiary, Vadem
California, which was the owner of certain patents subsequently
transferred to another company called Amphus. Microsoft commenced
claims in Delaware against Amphus which were struck out, on
