Bringing you live news and features since 2006 

Defendants granted leave to appeal in Fairfield case


The Eastern Caribbean Supreme Court, Court of Appeal, has granted leave of appeal to the defendants who applied for two preliminary issues to be heard in the BVI proceedings brought by Fairfield Sentry Limited (in liquidation).

According to law firm Harneys, the Court granted them leave to pursue their appeal to the Privy Council in London on the “Article 11/finality of the net asset value” preliminary issue.

The Court meanwhile refused Fairfield permission to pursue its appeal to the Privy Council on the “Good Consideration” preliminary issue, on the basis that Fairfield had not complied with the requirement of the Virgin Islands (Appeals To Privy Council) Order 1967 that such application for leave be made within 21 days of the decision to be appealed from.

Harneys anticipates that Fairfield will now pursue its application for the Privy Council itself to exercise its discretion and grant Fairfield permission to appeal.

Harneys acts for a consortium of defendants in the BVI proceedings which emanate from the Bernard Madoff fraud.

Latest News

As the ETF industry reaches a milestone of USD12.71 trillion in global assets, Brown Brothers Harriman writes that its 2024..
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin closed last week at approximately USD66,300, marking a 7.8 per..
HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by