Fortuna injunction
5 cases · January 2025 to October 2025
Key Issues & Sub-Topics
requisite conditions for the issuance of same — whether the intended winding up petition has no chance of success or is premised on a disputed claim — whether presentation of a winding up petition will cause irreparable damage to the company rather than by a more suitable alternative procedure — whether a statutory notice issued pursuant to s.466 of the Companies Act 2016 (“said s.466 Notice”) was based on a bona fide disputed debt — whether the said s.466 Notice is valid since it is premised on a valid and enforceable judgment — definition of commercial insolvency or unable to pay its debts — it is irrelevant whether the intended winding up petition will cause irreparable damage to a company when it is premised on a undisputed valid and enforceable judgment 1 Sections 465(1)(e) & 466(1)(a) Companies Act 2016 — Two cumulative limbs — Bona fide disputed debt on substantial grounds — Letter of Assurance — Contractual interpretation — Express terms preserving primary obligations — No novation or transfer of liability — Conditional secondary obligation — Condition precedent unfulfilled — Notice of Assignment required but not issued — Auditor's confirmation as contemporaneous admission of debt — No prior dispute of invoices — Afterthought allegations — Inconsistent with contemporary documents — Abuse of process — Commercial solvency — Cash flow versus balance sheet solvency. 1 Sections 465(1)(e) & 466(1)(a) Companies Act 2016 — Two cumulative limbs — Bona fide disputed debt on substantial grounds — Letter of Assurance — Contractual interpretation — Express terms preserving primary obligations — Entire agreement clause — No variation without written amendment — Failure to dispute invoices — Non-response to demand letters in commercial context — Afterthought allegations inconsistent with contemporary documents — Abuse of process — Commercial solvency — Cash flow versus balance sheet solvency. 1 Construction Industry Payment and Adjudication Act 2012 (CIPAA) — s.466 of the Companies Act 2016 — Failure to pay contractor — Statutory notice based on enforcement order — Whether it is abuse of court process by issuing fresh statutory notice — Withdrawal of winding up petition and issuing of fresh statutory notice — Whether appeal or commencement of arbitration or counterclaims and set-offs raised in adjudication constitute bona fide dispute of debt — Undisputed debt unless and until enforcement order is set aside or stayed — Res judicata — Irreparable damage irrelevant — No chance of success — Commercially solvent — Statutory threshold amount — Combined costs and the principal sum 1
requisite conditions for the issuance of same — whether the intended winding up petition has no chance of success or is premised on a disputed claim — whether presentation of a winding up petition will cause irreparable damage to the company rather than by a more suitable alternative procedure — whether a statutory notice issued pursuant to s.466 of the Companies Act 2016 (“said s.466 Notice”) was based on a bona fide disputed debt — whether the said s.466 Notice is valid since it is premised on a valid and enforceable judgment — definition of commercial insolvency or unable to pay its debts — it is irrelevant whether the intended winding up petition will cause irreparable damage to a company when it is premised on a undisputed valid and enforceable judgment 1 case
Sections 465(1)(e) & 466(1)(a) Companies Act 2016 — Two cumulative limbs — Bona fide disputed debt on substantial grounds — Letter of Assurance — Contractual interpretation — Express terms preserving primary obligations — No novation or transfer of liability — Conditional secondary obligation — Condition precedent unfulfilled — Notice of Assignment required but not issued — Auditor's confirmation as contemporaneous admission of debt — No prior dispute of invoices — Afterthought allegations — Inconsistent with contemporary documents — Abuse of process — Commercial solvency — Cash flow versus balance sheet solvency. 1 case
Sections 465(1)(e) & 466(1)(a) Companies Act 2016 — Two cumulative limbs — Bona fide disputed debt on substantial grounds — Letter of Assurance — Contractual interpretation — Express terms preserving primary obligations — Entire agreement clause — No variation without written amendment — Failure to dispute invoices — Non-response to demand letters in commercial context — Afterthought allegations inconsistent with contemporary documents — Abuse of process — Commercial solvency — Cash flow versus balance sheet solvency. 1 case
Construction Industry Payment and Adjudication Act 2012 (CIPAA) — s.466 of the Companies Act 2016 — Failure to pay contractor — Statutory notice based on enforcement order — Whether it is abuse of court process by issuing fresh statutory notice — Withdrawal of winding up petition and issuing of fresh statutory notice — Whether appeal or commencement of arbitration or counterclaims and set-offs raised in adjudication constitute bona fide dispute of debt — Undisputed debt unless and until enforcement order is set aside or stayed — Res judicata — Irreparable damage irrelevant — No chance of success — Commercially solvent — Statutory threshold amount — Combined costs and the principal sum 1 case
Key Statutes
Arbitration Act
cited in 1 case BVI Insolvency Act
cited in 1 case Interpretation Act
cited in 1 case Companies Act 2016 (Cap 777)
cited in 1 case English
Arbitration Act 1996
cited in 1 case English Arbitration Act 1996
cited in 1 case English Insolvency Act 1986
cited in 1 case Arbitration Act 2005 (Cap 646)
cited in 1 case Court Distribution
Key People & Firms
Top Judges
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