Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Landmark Caribbean ruling finds unfair prejudice action cannot be brought post-liquidation

By Dominic Lawson

06 October 2017

Landmark Caribbean ruling finds unfair prejudice action cannot be brought post-liquidation English Harbour, Antigua iStock.com/MichaelUtech

The Eastern Caribbean Supreme Court has interpreted Antigua and Barbuda unfair prejudices legislation for the first time, finding that it cannot be used after an entity has been wound-up, and dismissing an application by liquidators of Stanford International Bank (SIB) seeking to retrieve payments made to depositors shortly before its collapse.