BERMUDA

SUPREME COURT

WINDING UP – THE COMPANIES ACT, 1981 – BERMUDA INTERNATIONAL CONCILIATION AND ARBITRATION ACT, 1993 – ABILITY OF SECURED CREDITOR TO PETITION – STAY OF EXECUTION OF ENFORCEMENT ORDER

The Court was asked to consider three applications before the Court: (1) An amended petition to wind up; (2) A Summons of the Company to dismiss the petition and set aside the appointment of the Joint Provisional Liquidators (“JPLs”); and (3) A Summons of the Company to stay execution of a Court Order granting leave to the Petitioner to enforce an arbitral award against the Company in Brazil (the “Enforcement Order”).

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