In the Matter of Global Fidelity Bank, Ltd
In an insolvency situation where one major creditor has raised an objection to the proposed joint official liquidators on the ground of a perceived lack of independence, said to arise out of a prior relationship with the insolvent company, the court should take account of the views and wishes of the creditor, giving them significant weight where appropriate, and adopt a 3-stage approach namely (1) identify the relationship; (2) determine whether it is capable of impairing the appearance of independence and if so (3) whether it is sufficiently material to the liquidation in question that a fair-minded and informed stakeholder would reasonably object to the appointment of the nominated practitioners in question
All PDF copies on file (1)
Every PDF we hold for this judgment is listed here, including legacy versions pulled from earlier upstream pipelines. Each carries a provenance note so the source of each copy is explicit.
| Cause Number | FSD 0168 OF 2021 (DDJ) |
|---|---|
| Court | Grand Court |
| Judgment Date | 2021-Aug-20 |
| Subject | In an insolvency situation where one major creditor has raised an objection to the proposed joint official liquidators on the ground of a perceived lack of independence, said to arise out of a prior relationship with the insolvent company, the court should take account of the views and wishes of the creditor, giving them significant weight where appropriate, and adopt a 3-stage approach namely (1) identify the relationship; (2) determine whether it is capable of impairing the appearance of independence and if so (3) whether it is sufficiently material to the liquidation in question that a fair-minded and informed stakeholder would reasonably object to the appointment of the nominated practitioners in question |
| Category | Financial Services Division |
| Filename (current) | 32ABORVZCVRB1FC1D3CI02181353224201FDA50BE91D638C34FE.pdf |
| File MD5 | 08308a722521521730258717f0cea069 |
| Source pipeline | csv |