We are immensely grateful for our clients’ continuous trust in the Chambers’ expertise and approach since its inception. 5 Fifteen Barristers has experienced a steady growth in terms of resources and practice areas. This is a snapshot of the matters in which we have acted in the last 12 months.
- Acting for a real estate promoter in a dispute against a local bank regarding the enforcement of a performance bond. The dispute raises important questions regarding the operation of a performance bond as a security instrument under Mauritius law, in particular whether the beneficiary has a direct and immediate action against the issuer of the bond without having to first seek remedies against the principal party under the construction agreement.
- Acting for a private equity investment vehicle in a dispute relating to an outstanding loan in the amount of USD 6.7 million given to a deceased shareholder and the company’s refusal to register the purported transfer of shares to the estate of that shareholder.
- Acting for an investment company in insolvency proceedings before the Bankruptcy Division of the Supreme Court against a corporate guarantor for recovery of an undisputed MUR 15 million debt. The dispute raises an important question as to whether the service of a statutory demand on an insolvent debtor is abusive in the circumstances where it may be possible for the creditor to enforce its debt against a security provided by the debtor.
- Acting for the Mauritius Duty Free Paradise in a dispute against a local bank in relation to an alleged debt in the amount of MUR 40 million and attachment proceedings initiated by the bank for that sum.
- Acting for a Jersey-incorporated Trust in insolvency proceedings before the Supreme Court of Mauritius against a Mauritius SPV that funds digital banking services and products in Africa. The dispute arises from the SPV’s default under a promissory note governed by the laws of the State of New York for the amount of USD 10 million plus interests.
- Publication: The Mauritius courts’ approach to force majeure defences, Business Magazine, 15 April 2020
- Webinar (May 2020): Managing Costs in Commercial Disputes
- Webinar (May 2020): Cashflow Difficulties – Legal & Commercial Considerations