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Dentons | Canada | 16 Apr 2019

Third-party discoverability grounded in reasonability

In negligence-based actions, defendants routinely issue third-party claims for contribution and indemnity to reduce their liability exposure. As a result, a plaintiff can commence a claim believing certain defendants to have caused its loss but, after successive third-party claims, learn that several other persons might have contributed to the loss. The Ontario Superior Court recently......
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Ropes & Gray LLP | USA | 17 Oct 2018

Chancery court allows Straight Path stockholders to pursue direct claims against company's former controlling stockholder

The Delaware Court of Chancery recently denied a motion to dismiss the claims of Straight Path Communi­cations Inc's stockholders against the company's controlling shareholder. The background of this case involved IDT, which is controlled by its former CEO, Howard Jonas, and was Straight Path's former parent company. When IDT spun out Straight Path, it agreed to indemnify Straight Path for......
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Ogier | Guernsey | 23 Aug 2018

Guernsey Court of Appeal provides avenue of escape to tax advisers and trustees

The Guernsey Court of Appeal recently handed down its long-awaited judgment in M v St Anne's Trustees. On appeal, neither party had challenged the Guernsey Royal Court's decision that Guernsey law should follow Pitt v Holt. Instead, they had focused on arguing that there had been a breach of fiduciary duty and that the Royal Court should have exercised its discretion to grant relief.
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Harneys | British Virgin Islands | 9 Aug 2018

Court of Appeal reaffirms that it will rarely reverse findings of fact

The BVI Court of Appeal recently dismissed an appeal against the liquidators of BVI company Pioneer Freight Futures Company Limited and reaffirmed the established law regarding reversing findings of fact. The court held that it will intervene only in rare cases, such as when there is no evidence to support the conclusion, the conclusion was based on a misunderstanding of the evidence or the......
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Lennox Paton | Bahamas | 7 Aug 2018

Supreme Court evaluates scope of trustees' protection in contentious trust litigation

The Supreme Court recently assessed the protection afforded to trustees by virtue of Section 83 of the Trustee Act 1998, which provides that a trustee cannot be bound or compelled by way of discovery to disclose information and documents about a trust. In Dawson-Damer, a trustee had used Section 83(8) as a basis to refuse a disclosure request. The applicant's case was built primarily on the......
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Harneys | Cayman Islands | 23 Jul 2018

AHAB v Saad – importance of a particularised and principled tracing claim

In Ahmad Hamad Algosaibi & Brothers Company (AHAB) v Saad, the Grand Court found that AHAB's claims, which attempted to trace its funds into the hands of defendant SIFCO5, were "unparticularised and unprincipled". Further, AHAB was unsuccessful in establishing that funds representing traceable proceeds from the Money Exchange reached SIFCO5 or in articulating any discernible cause of action......
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Harneys | Cayman Islands, USA | 28 Jun 2018

Court declines to restrain foreign trust proceedings

The recent Grand Court decision in T Co v AA, BB, CC, DD, EE (a minor) is a good reminder of the court's approach to service out of the jurisdiction and provides insight on the scope of jurisdiction clauses contained in trust instruments.
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Kubas Kos Gałkowski | Poland | 21 Jun 2018

Supreme Court decides that assignee is bound by arbitration agreement

The assignment of rights and obligations stemming from an agreement forms part of everyday business. This issue can become complicated if a transferred claim is covered by an arbitration agreement. A recent Supreme Court decision shows that in such a case, the assignee and the debtor must resolve their disputes through arbitration. This decision confirms the arbitration-friendly approach of......
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Gan Partnership | Malaysia | 19 Jun 2018

Dishonesty must be present before debtor in assignment can be made liable

A recent Federal Court decision has simply reaffirmed the position of Malaysian law in relation to breaches of trust. The majority of the Federal Court held that imputed constructive knowledge of an assignment is insufficient to hold the debtor liable to the assignee for the debt. The decision also illustrates a disinclination to depart from the established law on the requirement of......
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Howse Williams 何韋律師行 | Hong Kong | 30 May 2018

With great power comes great responsibility

In a recent case, a senior employee was found to have acted as a de facto director of the plaintiff company as a result of her position and responsibilities within the company. Consequently, the employee was held to have breached the fiduciary duties which she owed to the company by diverting business opportunities away from it and making unauthorised use of its resources.
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