(British Virgin Islands) Shares in two companies incorporated under the BVI Business Companies Act 2004, Cukurova Finance International Ltd and Cukurova Telecoms Holdings Ltd were provided as security under two sets of equitable mortgages, one set was governed by BVI law and the other set by English law. The Board was asked as to how the rules of English law relating to equitable mortgages of shares have been affected by European Directive 2002/47/EC on financial collateral arrangements.
Held: It was not necessary for a valid appropriation for a collateral-taker to become registered owner of the shares.
Judges:
Lord Hope of Craighead, Lord Scott of Foscote, Lord Walker of Gestingthorpe, Baroness Hale of Richmond, Lord Mance
Citations:
[2009] UKPC 19, [2009] 1 CLC 701, [2010] 1 All ER (Comm) 1173, [2009] Bus LR 1613, [2009] 3 All ER 849, [2009] 3 CMLR 11
Links:
Jurisdiction:
Commonwealth
Cited by:
See Also – Cukurova Finance International Ltd and Others v Alfa Telecom Turkey Ltd PC 23-May-2012
(British Virgin Islands) Interlocutory issue as to who should manage the affairs of the Turkcell mobile telephone business pending the Board’s final adjudication (after a hearing which should take place this autumn) on the rights and wrongs of what . .
See Also – Cukurova Finance International Ltd and Another v Alfa Telecom Turkey Ltd PC 30-Jan-2013
(British Virgin Islands) The claimant sought to recover shareholdings given in charge.
Held: There was an event of default, which entitled ATT to accelerate the loan and to appropriate – or forfeit – the charged shares, but that relief against . .
See Also – Cukurova Finance International Ltd and Another v Alfa Telecom Turkey Ltd PC 9-Jul-2013
British Virgin Islands . .
See Also – Cukurova Finance International Ltd and Another v Alfa Telecom Turkey Ltd PC 29-Jul-2013
(British Virgin Islands) . .
See Also – Cukurova Holding As v Sonera Holding Bv PC 13-May-2014
(British Virgin Islands) The appellant sought to have set aside the Final Decision of an arbitrator. . .
Lists of cited by and citing cases may be incomplete.
European, Land
Updated: 24 July 2022; Ref: scu.341822