Re Bank of Credit and Commerce International SA (No 3)
| Jurisdiction | England & Wales |
| Year | 1992 |
| Date | 1992 |
| Court | Court of Appeal (Civil Division) |
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29 cases
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The Companies Law (2013 Revision) the Sphinx Group of Companies in Official Liquidation)
...that the arrangement would involve compromises with third parties as well. 17 By way of still further illustration, in Re T & N Limited (No. 3)9 the word ‘arrangement’ was regarded by David Richards J. as having ‘c very broad meaning’’, following his review of the earlier case law. 18 Of co......
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Agrokor DD v and the Cross-Border Insolvency Regulations 2006
...Administration Law. But the applicant says the pari passu principle is not critical, and relies upon the decision in Re Bank of Credit and Commerce International SA (No 3). [1993] BCLC 1490, CA. In that case, which was one before the enactment of the CBIR, the liquidators of the company so......
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HIH Casualty and General Insurance Ltd, Re; McGrath and Others v Riddell and Another
...or incidental to an exercise of the statutory power to approve a compromise under part 1 of schedule 4 to the Insolvency Act 1986: see [1993] BCLC 1490 at 1509–10 (per Dillon LJ). It was only by the exercise of the powers in schedule 4 part 1 or by a scheme of arrangement that there could b......
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Lazari Properties 2 Ltd v New Look Retailers Ltd
...Ltd must be seen in the light of the fact that in the subsequent English case of Re Bank of Credit and Commerce International SA (No. 3) [1993] BCLC 1490, Sir Donald Nicholls VC declined to follow Re Trix. He permitted a pooling arrangement in respect of two companies in the BCCI group to b......
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5 firm's commentaries
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More Schemes For SPhinX
...or member can bring the application with the support of the company. 3 Anglo-American Insurance Co [2001] 1 BCLC 755, BCCI SA (No. 3) [1993] BCLC 1490 and Kempe v Ambassador Insurance Co. (in liquidation) [1998] 1 BCLC 234 4 Re Trix [1970] 1 WLR 1421 5 Starting with Bank of Gibraltar and Ma......
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Liquidation Update
...arrangement had been approved. Also, in England, a pooling arrangement was approved on a liquidators' application in Re BCCI SA (No3) [1993] BCLC 1490 as explained by Nicholls "The pooling arrangements are not conditional upon acceptance by creditors ... I am satisfied that the affairs of B......
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JOLs Obtain Sanction Of The Bahamas Supreme Court To Enter Into Global Settlement Agreement With Chapter 11 Debtors To Pool Assets Of FTX Digital's Estate
...as the "inextricably co-mingled assets"— in the BBCI case (Re Bank of Credit and Commercial International SA (In Liquidation) (No. 3) [1993] BCLC 1490) it was described as a "hopeless intertwining" assets—because I think this is important for supporting the approach for the pooling of asset......
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BVI Commercial Court Confirms Jurisdiction To Sanction Pooling Across Multiple Liquidations
...Court of Appeal in Bank of Credit and Commerce International SA (No 3), citing in support the passage in the judgment of Dillon LJ [1993] BCLC 1490 (at p1510) where he confirmed that "...in a liquidation... there can be a departure from the pari passu rule if it is merely ancillary to the e......
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2 books & journal articles
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Popular Names Index to UK Cases and EU Legislation and Cases
...Cloverbay Ltd v Bank of Credit and Commerce International SA [1991] Ch 90 Bank of Credit and Commerce International SA, re (No 2) [1992] BCC 715 Bank of Credit and Commerce International SA, re (No 3) [1993] BCLC 1490 Bank of Credit and Commerce International SA, re (No 9) [1994] 3 All ER 7......
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Something Old, Something New: Recasting the European Insolvency Regulation
...vPetrodel Resources Ltd [2012] 2 AC 415; VTB Capital plc vNutritek International Corp[2013] 2 AC 237.116 See however, Re BCCI (No 2) [1992] BCC 715 where it was held that pursuant to the InsolvencyAct 1986, s 167 the court could approvea ‘pooling’ ag reementif the assets of insolvent compan......