Shows
Exploring Offshore LitigationThe cost of non-compliance with BVI court orders
Case background
Enforcement judgmentsThe Gerald Metals Group was awarded an unprecedented $2.5 million fine against its former joint venture partner China National Gold Group Hong Kong Limited (CNG) for its significant and persistent non-compliance with court orders in the BVI.
The underlying dispute (resolved in arbitration) involved a dispute between a Gerald Metals entity, Global Mining Development LP (Global) and CNG, the two shareholders of a BVI joint venture vehicle, Soremi Investments Ltd (SIL). Global exercised a right of first refusal under the terms of their shareholder's agreement (the SHA) to purchase CNG's shares in SIL.
In breach of the SHA, CNG...
2025-07-2204 min