AMS Law Successful In Restoring Bearer Share Company
AMS Law successfully represented the applicant in the first case heard in the BVI Commercial Court following the decisions of the Court of Appeal of the Eastern Caribbean Supreme Court in Wembley and Sutton (BVIHCVAP2016/0009&10) seeking the restoration of a disabled bearer share company.
Under the terms of the order obtained by AMS Law the company was restored to the Register and the director was able to redeem the bearer shares and cause registered shares to be issued.
The decision in Wembley and Sutton itself paves the way for applications to be brought for the restoration of grandfathered bearer share companies that do not have directors. This decision creates a strong expectation that a receiver would be appointed jointly by the applicant and The Registrar of Companies to consider exercising the power of redemption in favour of the bearer shareholder.
If you would like to discuss the Court of Appeal decision or how to make a court application to restore a company to the Register of Companies please feel free to send us an email enquiry.