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In Your Court: Ogier's dispute resolution review - May 2024

Newsletter

09 May 2024

Global

4 min read

There have been a number of developments of note in dispute resolution across our jurisdictions over the past few months.

These include two judgments of the Irish courts clarifying the scope of the Norwich Pharmacal jurisdiction in Ireland, the fallout from the high-profile collapse of cryptocurrency hedge fund Three Arrows Capital which has been progressing through the BVI courts, and a successful application to the Royal Court in Guernsey that funds held in a trust were not the proceeds of crime.

Elsewhere in Ireland, changes to the planning judicial review process have been proposed, while a long-running action made by former Irish Football Association chief executive John Delaney against the seizure of over 1,100 digital documents was rejected.

Senior associate Shane Quinn from Ogier's Hong Kong team also shares his insights as to when an appeal to the Privy Council in the BVI may be necessary in instances where a court has delayed passing judgment.

Enjoy In Your Court and if you have any questions, please get in touch with our team.

Read In Your Court: Ogier's dispute resolution review online.

The rise of ESG litigation

Environmental, social, and governance, or ESG, is a set of criteria used to assess a company's impact on society and the environment, as well as its corporate governance practices. Increased regulatory requirements, growing investor demands, and the global climate crises have led to the rising need for companies to manage and report ESG performance.

Such growing rules and regulations, alongside existing legislation, have increased ESG-related litigation risk for companies. The potential financial and reputational damage from ESG litigation is significant, making it a rising concern for businesses globally.

The Luxembourg government approves major amendments to proposed reform of residential leases

The Luxembourg reform of residential lease agreements took a turn this week, as the Luxembourg government approved major amendments to Bill 7642 on Monday 15 April 2024.

The previous government initiated the legislative process in 2020 to reform the residential lease law, proposing to cap rents to 3.5% of the capital invested in the property by the owner. However, the project hit several hurdles, mostly due to strong opposition.

To overcome these controversies and limit further delays to the introduction of Bill 7642, six major amendments have been adopted.

Liquidators of Three Arrows Capital Ltd obtain court approval for US$100 million interim distribution

On 28 March 2024, the BVI Court granted the Joint Liquidators of Three Arrows Capital Ltd (in liquidation) (3AC) sanction to make an interim distribution of up to US$100 million of 3AC's assets to its creditors in BVIHC(COM)2022/0119 Russell Crumpler and Christopher Farmer (as Joint Liquidators of Three Arrows Capital Ltd (in Liquidation)) v Three Arrows Capital Ltd (in Liquidation).

Recent Cayman litigation emanating from the Middle East

This article provides an update on the disputes Ogier is seeing come before the Cayman Court involving a connection to the Middle East. There is a steady, substantial and varied pipeline of cases demonstrating the close connections between the region and the Cayman Islands.

Restructuring plans post-Adler: a Jersey law perspective

In a seminal judgment of the Court of Appeal of England and Wales in the case of In the Matter of AGPS Bondco plc (Adler), the Court of Appeal overturned the first instance judgment of the High Court of England and Wales sanctioning a restructuring plan between AGPS Bondco plc (Plan Company) and its creditors. In doing so, it restated and clarified the law in England and Wales insofar as it relates to restructuring plans. Post-Adler, the High Court has sanctioned a restructuring plan in the case of In the Matter of Project Lietzenburger Straße Holdco S.A.R.L. (commonly known as the Fürst case), in which Adler was cited, and others may well follow shortly.

A guide to appeals to the BVI Privy Council following lengthy delays to court judgments

Commercial litigation can often seem like a long and expensive process, whether a party is prosecuting or defending a claim.

In a recent New Law Journal article, Shane Quinn looks at recent judgments from the BVI and explores where excessive delays could lead to grounds for an appeal to the Privy Council.

Read the latest from our Ireland team

Don't miss our latest briefings from our Ireland team. These discuss developments, recent judgments and more.

Focus on fraud and asset tracing: tips for dealing with allegations of fraud

Fraud is, thankfully, rare and suspicions or allegations of fraud are typically as unexpected as they are unwelcome. When allegations are made it is important that directors are equipped to respond quickly and effectively.

This article contains our top tips for how to manage a situation involving fraud or suspicion of fraud in a fund context.

Ogier succeeds in obtaining a decision that trust funds were not the proceeds of crime

Ogier in Guernsey successfully assisted Dr Richard Tucker Loero in securing an order from the Royal Court declaring that Dr Tucker Loero's funds held in a trust in Guernsey were not the proceeds of crime, for the purposes of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (the Law).

Snapshot: enforcement against real property in Guernsey - Saisie

Saisie (meaning "to seize") is a court-driven, Guernsey customary law process, governed by the Saisie Procedure (Simplification) (Bailiwick) Order, 1952. It is a three-stage, post-judgment process which enables a creditor to enforce their rights against the debtor's realty in Guernsey.

The effect of saisie is to vest all of the debtor's realty in Guernsey into the name of the creditor. The entire proceedings can take six to12 months and place certain burdens on the creditor who initiates them.

Meet our global Dispute Resolution team.