5 February 2025
R&I Update - February 2025 – 1 of 6 Insights
The Joint Official Liquidators (JOLs) of Farfetch Limited (in liquidation), a Cayman company, applied to the English court for an order that former senior management provide information to assist them in their investigation into potential mismanagement of the company before its insolvency.
Mr Neves, a former director and Group CEO of Farfetch, argued that he was outside the jurisdiction of the English court as he now resides in Brazil.
The other management agreed to provide written responses to requests but argued that:
The Court held that:
This judgment acts as a warning to insolvency office-holders to carefully consider the timing of an application for oral examination. The courts are alive to the dangers of oppression in requiring a person suspected of wrongdoing to submit to an oral examination before proceedings have been brought against them and will aim to strike a balance between the reasonable requirements of an office-holder and the risk of oppression.
To discuss the issues raised in this article in more detail, please contact a member of our Restructuring and Insolvency team.
5 February 2025
5 February 2025
5 February 2025
5 February 2025
by Mark Chan
5 February 2025
5 February 2025