Levers J
1 IN CHAMBER
2 IN THE GRAND
3
4
5
6
7
8 IN THE
9
(Form)
10
11 AND
12
13 IN THE
D. COURT OF THE CAYMAN ISLANDS
CAUSE NO.
THE MATTER OF SECTION 94 (d) OF THE CO
(2002 REVISION)
MATTER OF OPPORTUNITY EQUITY PARTNERIALLY CVC/Opportunity Equity Partners in
28-4.05
26 OF 2002
PANTES LAW
S. LIMITED
(limited)
16 17 Before: The
18
19 Appearance of
20 Mr. Roger F.
Ogier & Box
21 Mr. Seamus
23 Roulstone f
24
25 Heard: Apr
26
27
28 29
30 Levers, J.
31
32 This is the
Honourable Madam Justice Levers
(dis, Q.C. instructed by Mr. James Charles for the Company Andrew instructed by Andrea Dunsby for the Petitioner
all 21, 2005
RULING
Company's application to discharge the
Man of
Turner &
he Mareva
33 Injunction
34 on the basis
35 namely that
36 (1) T
37 (2) A
38 (3) $
39 (4)
40
41 Mr. Andrew
42 that the bo
granted on 21 June 2002. The applica-
tions that there has been a change of cib-
er Petition has been stayed;
agreement for sale concluded; and
million dollars paid into Court.
for the Petitioner objects to this or
na fides of the Company have been ques-
tion is made
cumstances,
the grounds
stloned by
1 at least t
2 entitlement
3 true howev
4 wide and w
5 uncontested
6 Mr. Ellis is
7 evidence of
8 the Company
9 in this stage,
10 that he cannot be ascertained at this stage,
or is that a Mareva Injunction should
then the $5 million was agreed to, it w
11 that this figure was a sufficient gr
for the Company makes the point that
dissipation and that there is no ev
would act in bad faith. He says th
s client's
What is
not be too
as
harantee.
here is no
desire that
it it could
have our
10 partner. I
11
12 On a review
13 valuation i
14 that the w
15 except for
16 sum of $17,
17 Injunction
18 taxed or ag
19 lay with the money prior to its removal.
removal does not imply dissipation, he
of all the evidence and the fact th
is hopefully forthcoming shortly, I th
rldwide Mareva Injunction be lifted a
the funds in the UBS House, Grand Cay
409,649 which shall remain the subject
Costs of this application to the Court.
It as general
I says.
it the
reby order
have and
man in the
t of the
company to be
20 Dated this
21
22
23 Judge of th
28 day of April 2005