I have commented on matters of Scots law, as per the name of the blog, and English law. But, so far, I have not mentioned the law applicable to the British Virgin Islands.
But that changes today!
Ticketus, who successfully won a court order against Craig Whyte, have now applied for the liquidation of Liberty Capital Ltd, the BVI company which owned 100% of Wavetower Ltd which was the vehicle used to effect Mr Whyte’s purchase of 85% of the shares of Rangers Football Club PLC (oldco) which was in turn as we must now know it, the company which formerly owned the assets and business of Rangers Football Club (whew).
The notice can be read on page 889 by following the link here.
The notice reads as follows:-
9TH MAY, 2013 VIRGIN ISLANDS OFFICIAL GAZETTE Vol. XLVII, No. 31
Other Liquidation Notices
IN THE EASTERN CARIBBEAN SUPREME COURT
IN THE HIGH COURT OF JUSTICE
Claim No. BVIHC (COM) 46 of 2013
IN THE MATTER OF THE
INSOLVENCY ACT, 2003
IN THE MATTER OF
LIBERTY CAPITAL LTD
4956 NOTICE IS HEREBY GIVEN that an application to appoint liquidators over LIBERTY CAPITAL LTD of P.O. Box 92, Road Town, Tortola, VG1110, Virgin Islands (“the Company”) by the High Court of Justice, Virgin Islands, was on 23 April 2013 presented to the said Court by the Applicants, TICKETUS LLP and TICKETUS 2 LLP of P.O. Box 71 Craigmuir Chambers, Road Town, Tortola, Virgin Islands.
The application is fixed for hearing on the 27 May 2013 at 10am at the Commercial Court, High Court of Justice, Road Town, Tortola,
Virgin Islands. Any person intending to appear at the hearing of the application, whether to support or oppose the application shall give notice of his intention in the manner stated below pursuant to Rule 162 of the Insolvency Rules 2005. A copy of the application will be furnished on request to any director, member or creditor of the Company by the undersigned on payment of the appropriate charge for the same.
Signed: Harney Westwood & Riegels
Legal Practitioners for the Applicants
Craigmuir Chambers, P. O. Box 71
Road Town, Tortola
(HWR Ref: 042235.0003/AMT/CF)
NOTE:- any person who intends to appear on the hearing of the Application must send to the above named notice in writing of his intention so to do. The notice must state the name and address of the person giving notice and his contact details, if any; whether it is his intention to support or oppose the Application; and, if he is a Creditor, the amount of his debt or, if he is not a Creditor, the grounds upon which he supports or opposes the Application. The notice must be sent so as to reach the above named by no later than 16.00 hours on 23rd May, 2013 or on the business day before the hearing in the event that it is adjourned.
Anyone fancy a trip to the Virgin Islands on 27th May? There might be a chance to see Mr Whyte there!
Ticketus are making all the moves to seek to enforce the debt it claims is due by Mr Whyte and his various offshoots, even on the day Mr Whyte appeals the judgement against him personally.
The liquidation of Liberty Capital Ltd is unlikely to affect directly Rangers Football Club, but there could be knock on effects for the claims being made in respect of its assets against Sevco Scotland (now The Rangers Football Club Ltd) and against Messrs Green and Ahmad.
Posted by Paul McConville