DQ’s dispute resolution team has recently successfully resisted a pre-claim application for disclosure of documents and the suspension of appointment of an expert as the Isle of Man High Court affirms the test for disclosure of documents prior to a claim being started.
Background
The case concerned a limited partnership called the Mebco Limited Partnership (“Mebco”). There were three partners in the Partnership, namely the Claimant (Volaw Trustee Limited) and Boca Limited as limited partners, and Soberano Limited as the General Partner. DQ’s Adam Killip represented Boca Limited and Soberano Limited, assisted by Giles Hill and Jessica McManus.
In accordance with the terms of the Partnership Deed, the General Partner appointed the accounting firm KPMG to act as ‘Expert’ for the purpose of valuing each party’s interest in the Partnership. The Claimant alleged that it did not have sufficient information in order to come to its own view of the fair value of its partnership interest, and argued for the suspension of KPMG’s work, because in its view the General Partner had appointed KPMG prematurely.
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