Sentry boxes back? Who goes where?The Hedge Fund Journal (2012)
AbstractThe Court of Appeal of the Virgin Islands (the “Court”) in its decision of 13th June 2012 confirmed Mr Justice Bannister’s judgment handed down on 16th September 2011 in the matter of Fairfield Sentry Limited (in Liquidation) (“Sentry”) in which Sentry’s clawback claim was defeated. As a result of the Court’s failure to have sufficient regard to relevant procedural and substantive matters, which are discussed further in this article, the strength of the authority of the Court’s decision is uncertain. It is therefore advisable that investors in hedge funds consider expressly to exclude or to limit a claim for unjust enrichment by revisiting, or where appropriate, seeking to incorporate appropriate clauses into their contractual arrangements of investments until the issues dealt with in this case are revisited by another court in another case or by the Privy Council, the ultimate court of appeal for the British Virgin Islands, if this matter falls for its consideration, as seems likely to be the case.
Publication DateDecember, 2012
Citation InformationDr Leonardo J Raznovich. "Sentry boxes back? Who goes where?" The Hedge Fund Journal Iss. 81 (2012)
Available at: http://works.bepress.com/leonardo_raznovich/9/