Acting for claimants in proceedings concerning breaches of directors’ duties
Tuesday 10 November, 2015
Peters & Peters act for two British Virgin Islands companies, which were used as vehicles for a multi-million dollar investment in a Chinese Lottery project. The Claimants brought proceedings in the High Court against a former director and against an alleged shadow director for breach of fiduciary duty in failing to undertake adequate due diligence prior to the investment.
The claim against the former director was settled on confidential terms. The claimants applied successfully to strike out the alleged shadow director’s defence for failure to comply with the Court’s orders and obtained judgment against him for US$11.5 million. Peters & Peters continue to act for the Claimants in seeking to enforce the judgment.