Bank of Asia: The BVI Commercial Court Delivers Judgment

Hefin Rees QC has been successful in a trial in the BVI where judgment was delivered yesterday. The case involves a shareholder dispute concerning the newly established Bank of Asia, which has been licensed in the BVI to provide offshore banking facilities to the 250,000 companies incorporated in the BVI held by interested parties in the PRC, Hong Kong, and Singapore.

Adderley J held that Hefin’s client, Chad Holm, who was formerly a senior executive at Bank of America Merrill Lynch, was entitled to a 22% shareholding in the Bank of Asia.

Hefin was instructed by Walkers in both Hong Kong and the BVI. A remedies hearing is now listed for April 2019 to determine the value of the shareholding in the Bank of Asia. You can read the Judgment of the BVI Commercial Court by connecting here.