Weekly law digests

Company

Re Sturgeon Central Asia Balanced Fund Ltd (in liquidation) [2019] EWHC 1215 (Ch), [2019] All ER (D) 96 (May)

The applicant provisional liquidators’ application for recognition in Great Britain of a company’s liquidation as a ‘foreign main proceeding’ under the Cross-Border Insolvency Regulations 2006 (SI 2006/1030) succeeded. The Chancery Division held that s 161 of the Bermuda Companies Act 1981 could fairly be described as a ‘law relating to insolvency’, as per Art 2(g) of the UNICTRAL model law. It was clearly right that a winding up on just and equitable grounds could qualify for recognition in circumstances where the entity was insolvent.

Contract

116 Cardamon Ltd v MacAlister and another [2019] EWHC 1200 (Comm), [2019] All ER (D) 97 (May)

The claimant company’s claim succeeded, in part, in a dispute concerning the valuation of a company that it had acquired through a share purchase agreement. The Commercial Court held that there had been breaches of warranty regarding certain of the company’s accounts. Among other things, the accounts had underrated the company’s liability