Ciban Management Corporation v Citco (BVI) Ltd and another
| Jurisdiction | UK Non-devolved |
| Neutral Citation | [2020] UKPC 21 |
| Court | Privy Council |
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13 cases
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Mohammed Arshad Alam v Pervez Alam
...decision validated by the Duomatic principle (as clarified by the Privy Council in Ciban Management Corporation v Citro (BVI) Ltd [2020] UKPC 21). This is on the basis that, as sole shareholder, Pervez had the consent of all beneficiaries. Indeed, he did little more than endorse the propos......
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BTI 2014 LLC v Sequana S.A.
...of a company can do by formal resolution in a general meeting, they can also do informally if all of them assent to it”: Ciban Management Corp v Citco (BVI) Ltd [2020] UKPC 21; [2021] AC 122, para 31. In particular, the shareholders can authorise or ratify the acts of directors informally......
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Oak Forest Partnership Ltd ((in Liquidation)) v Mercantile Investment Holdings SA (a company incorporated under the laws of St Kitts and Nevis)
...apply where the transaction jeopardises the company's solvency or causes a loss to creditors: Ciban Management Corp v Citco (BVI) Ltd [2021] AC 122, at [40] per Lord Burrows JSC, and see BTI 2014 LLC v Sequana SA [2022] 3 WLR 709, at [91] per Lord Reed PSC, and at [288] per Lady Arden JSC;......
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Mark Faulkner v Vollin Holdings Ltd
...decision in Re Duomatic Limited [1969] 2 Ch 365, discussed by the Privy Council in Ciban Management Corporation v Citco (BVI) Limited [2020] UKPC 21). A director who disobeyed such an instruction or decision would be acting in contravention of his section 171 duty. K. Were the Minorities ......
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3 firm's commentaries
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The Creditor Duty: What Directors Need To Know
...para [176] 3 At para [256] 4 Per Lady Arden at paras [250] and [448] 5 At para [304] 6 From Ciban Management Corp v Citco (BVI Limited) [2020] UKPC 21; [2021] ACC 122 7 At para [196] 8 At paras [160] - [162] 9 Para Read the original article on GowlingWLG.com. The content of this article is ......
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His Master's Voice: The Privy Council Clarifies The Application Of The Doctrine Of Ostensible Authority And The Duomatic Principle
...instructions of someone without the requisite authority. In a recent judgment in Ciban Management Corporation v Citco (BVI) Ltd & Anor [2020] UKPC 21, the Judicial Committee of the Privy Council (the BVI's final court of appeal) considered the application of the Duomatic principle and offer......
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The Limits Of DUOMATIC: The Court Of Appeal Clarifies The Scope Of The Doctrine In The BVI In Two Back-to-Back Decisions
...it was considered by the Privy Council on an appeal from the British Virgin Islands in Ciban Management Corporation v Citco (BVI) Ltd [2020] UKPC 21. In that case, it was alleged that the defendants had breached their duty of care by issuing a power of attorney which resulted in the unautho......
1 books & journal articles
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MY CREDITOR'S KEEPER: ESCALATION OF COMMITMENT AND CUSTODIAL FIDUCIARY DUTIES IN THE VICINITY OF INSOLVENCY.
...& Weight [1982] Ch 442 at 454-56 (U.K.). For a recent restatement in the Privy Council, see Ciban Management Corp. v. Citco (BVI) Ltd [2020] UKPC 21 [40] (appeal taken from British Virgin Islands) ("One recognised qualification [holds] that the transaction must not jeopardise the compan......