Judgment
In the Matter of Ascot Fund Ltd. (In Official Liquidation)
FSD 0003 OF 2019 (IKJ) · 2021-Jan-11
Solvent liquidation of fund company- distribution rights of members- contractual right to paripassu distribution before and after commencement of winding- up- distribution of proceeds of pre-liquidation settlement of New York proceedings in a manner preferential to members with small shareholdings- whether adjustment required to post- liquidation distributions to take into account benefits conferred on small shareholders by settlement distribution - whether distribution of settlement proceeds constituted unlawful return of capital by the company - liability of members in restitution for receipt of unlawful distributions.
Full metadata
| Cause Number | FSD 0003 OF 2019 (IKJ) |
|---|---|
| Court | Grand Court |
| Judgment Date | 2021-Jan-11 |
| Subject | Solvent liquidation of fund company- distribution rights of members- contractual right to paripassu distribution before and after commencement of winding- up- distribution of proceeds of pre-liquidation settlement of New York proceedings in a manner preferential to members with small shareholdings- whether adjustment required to post- liquidation distributions to take into account benefits conferred on small shareholders by settlement distribution - whether distribution of settlement proceeds constituted unlawful return of capital by the company - liability of members in restitution for receipt of unlawful distributions. |
| Category | Financial Services Division |
| Filename (current) | 4MBGUO1U9NZF1F4E6162EA4C7AE38ED2694A19A2FE8D6A6DD02F.pdf |
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