Judgment
OneTradex LTD (OTX)
FSD 0166 OF 2019 (ASCJ) · 2020-Oct-01
Securities Investment Business-report by its auditor of improprieties- appointment of controllers by the Monetary Authority over its affairs - controllers application for their appointment as provisional liquidators - basis for appointment of provisional liquidators- payment of liquidation costs from assets of client held on trust - Berkeley Applegate principle- distribution of assets in satisfaction of claims while disputed claims unresolved- jurisdiction to allow - setting of liquidation reserve to meet costs and unresolved claims while allowing for return of assets- principle for setting of such a reserve-whether provisional liquidators might be allowed interim payment on costs- jurisdiction to allow interim payments.
Full metadata
| Cause Number | FSD 0166 OF 2019 (ASCJ) |
|---|---|
| Court | Grand Court |
| Judgment Date | 2020-Oct-01 |
| Subject | Securities Investment Business-report by its auditor of improprieties- appointment of controllers by the Monetary Authority over its affairs - controllers application for their appointment as provisional liquidators - basis for appointment of provisional liquidators- payment of liquidation costs from assets of client held on trust - Berkeley Applegate principle- distribution of assets in satisfaction of claims while disputed claims unresolved- jurisdiction to allow - setting of liquidation reserve to meet costs and unresolved claims while allowing for return of assets- principle for setting of such a reserve-whether provisional liquidators might be allowed interim payment on costs- jurisdiction to allow interim payments. |
| Category | Financial Services Division |
| Filename (current) | 4R5KYA3PAGLK1F27GF8A268B0F839F179BB68A34055BFD4A7FAA.pdf |