Mark J. Forte

Experience Highlights

• Eastern Caribbean Court of Appeal dismisses appeal brought by Olive Group in a welcome underlining of limited basis on which Court can interfere in the appraisal mechanism and determination of minority discount when considering minority squeeze out provisions
• Acting for claimants seeking rectification of a BVI share register in a claim worth several hundred million
• BVI Commercial Court issues judgment on specific disclosure and privilege arguments – Barclays Bank plc v Red Oak Operations Ltd
• BVI Commercial Court issues judgment on test for challenging conduct of liquidators in the course of their duties.
• Currently acting for JSC NAC Kazatomprom to bring claims in BVI against former management for recovery of assets claimed in hundreds of millions.
• Represented Pacific China Holdings Limited in a landmark case, successfully appealing the order of the Commercial Court wherein it was held that the court did not have the jurisdiction to order a petitioning creditor to bear the liability of the remuneration incurred by liquidators, where their appointment was subsequently set aside. Prior to this decision, there were no reported cases in the jurisdiction or abroad which dealt comprehensively with the question of liability for liquidator’s remuneration in such circumstances.
• Advised French food products company Danone in one of the largest value receivership cases in BVI’s history, providing advice on BVI law elements of the global dispute and ultimate settlement.
• Acted for JSC BTA Bank in its continued efforts to recover assets in its various court actions against Ablyazov, including the successful appeal that reaffirmed the parameters under which the duty of a registered agent in the BVI to disclose information under Norwich Pharmacal principles arises. Further acted for the same bank in numerous injunction applications before the BVI court relating to international litigation against Ablyazov and others.
• Acted for the former directors of Yukos in successfully resisting attempts to appoint a receiver as part of an attempt to recover assets brought by Rosneft in the BVI courts and on appeal. The decision confirmed the new jurisdiction to grant free standing injunctive relief.
• Acted on numerous occasions for Russian banks in attempts to secure injunctive relief on an ex parte basis.
• Completed acting for a German-listed company in the longest running trial experienced in the BVI concerning shareholder relief and oppression arguments.

Professional Background

• Chambers at 8 King Street, Manchester

Education

• Harvard Business School Online, Disruptive Strategy
• Inns of Court School of Law, London
• Manchester Metropolitan University, LLB (Hons), England

Bar Admissions

• British Virgin Islands, 2004
• N.Ireland, Barrister, 1996 (not currently practising)
• England, Barrister, 1989 (not currently practising)

Awards & Accolades

• Recognised in the 2021 edition (and since 2010) of Legal 500 Caribbean (dispute resolution)
• Recognised in the 2020 edition (and since 2010) of Who’s Who Legal (Restructuring & Insolvency)
• Recognised in the 2020 edition (and since 2010) of Chambers Global (dispute resolution – Band 1)
• Recognised in the 2020 edition (and 2019) of Global Restructuring Review 100
• Recognised in the 2018 edition (and 2011 – 2016) of the CityWealth Leaders List
• Recognised in the 2015 edition of Legal Media Groups’ Expert Guides (insolvency and restructuring)
• Recognised in the 2009 edition of IFLR1000 (corporate and finance)

Associations

• Member, RISA local insolvency professionals association
• Honorary member, COMBAR (North American Group)
• Member, Chancery Bar Association
• Regional Chair (Caribbean offshore) for the INSOL International Channel Islands Seminar 2014

The Legal 500: International Arbitration Country Comparative Guide, BVI, 2020

Offshore Cases

Calm After the Storm – BVI Gets Back to Business, The Lawyer, September 2018

“Submission to Jurisdiction in Insolvency Claims and Availability of Cross-border Anti-suit Relief” INSOL World, First Quarter 2015

“The Offshore Perspective: Five Fundamental Questions for a Liquidator”, The Journal of Corporate Renewal, May 2014

“Small Practices and Consumer Debt Issues – British Virgin Islands”, INSOL International, February 2014

“Professional Director’s Duties in BVI Companies”, INSOL World, Fourth Quarter 2013

“Registered Agents: More than Mere Onlookers”, The Lawyer, April 2011