Company

The Supreme Court allowed Samba Financial Group’s appeal against a decision of the Court of Appeal setting aside an order of the Chancery Division which had stayed proceedings brought by a Cayman company and its joint liquidators, in which they had contended that transactions, transferring the beneficial ownership of shares in Saudi Arabian companies, by a Saudi Arabian citizen, to a Cayman Islands company, were void dispositions of property, under s 127 of the Insolvency Act 1986.