Very mixed news for Cyprus company in Isle of Man proof of debt appeal
Decision covers: proof of debt challenges, insolvency set-off, Quistclose trusts and finality of first instance decisions under appeal
Decision covers: proof of debt challenges, insolvency set-off, Quistclose trusts and finality of first instance decisions under appeal
Petitioner engaged in conduct including "industrial scale lying to the courts" - so winding-up option held to be "unjust and inequitable"
"... no jurisdiction... to appoint provisional liquidators for the substantive purpose of... pursuing a rescue or reconstruction"
Can a creditor file an Isle of Man winding-up claim based on an unrecognised foreign judgment?
Proving required knowledge and experience "not ordinarily available" on Island still a "strict" test