Red Wolf Resources Ltd v. Rasia

Carey Olsen has acted for the successful petitioner in a case before the Grand Court of the Cayman Islands.

Justice Raj Parker refused to strike out the winding-up petition brought by BVI investment holding company Red Wolf Resources against Rasia after rejecting the Cayman mutual fund’s argument that Red Wolf Resources had ceased to be its shareholder. Instead, Justice Parker found that Rasia’s director, Joseph Borkowski, had in fact attempted to invent the existence of a transaction agreement between the two parties in order to undermine Red Wolf Resources’ position – evidence of which Borkowski was unable to produce before the Court.

Red Wolf Resources, which claims to hold 78% of Rasia’s share capital had initially filed the winding-up petition on just and equitable grounds in May 2020.

The Carey Olsen team comprised of Partner, James Noble (Picture) and Senior Associate, Amelia Tan from the Singapore office and Partner, Peter Sherwood and Associate, Nigel Smith from the Cayman Islands office.   

     

    Involved fees earner: James Noble – Carey Olsen; Peter Sherwood – Carey Olsen; Nigel Smith – Carey Olsen; Amelia Tan – Carey Olsen;

    Law Firms: Carey Olsen;

    Clients: Red Wolf Natural Resources;

    Author: Sonia Carcano