Back to Insights listing

Insolvency, International / offshoreMonday 17 February 2025

Supreme Court of Gibraltar hands down judgment in Kijani Ratio (in liquidation) v Fagan and ors

Daniel Lewis acted for the Liquidators (Edgar Lavarello and Simon Conway of PwC), together with Nick Cruz and Kayleigh-Anne Revagliatte of Ellul & Cruz, securing judgment at trial for £62 million (judgment or settlement having already been obtained against the other Respondents).  The claim was brought against the former directors of a Gibraltar collective investment scheme, for misapplying funds under their control to their own benefit, including the purchase of two yachts.  The Respondent’s attempts to adjourn the trial were unsuccessful following which he did not participate further.  This is the first judgment at trial in Gibraltar on claims under section 259 of the Insolvency Act 2011 (fraudulent trading) and section 260 (insolvent trading, equivalent to wrongful trading).

Read the full judgment

People to view:

Share by: Email

Related Insights View all thought leadership

  1. Placeholder

    External Conferences

    INSOL International Offshore Meeting 2026

    Monday 20 April 2026
    JW Marriott Grosvenor House, London

    Speakers:
    Clare Stanley KC

    View more
  2. Placeholder

    News

    New silks: Bobby Friedman KC and Jack Watson KC

    Wilberforce Chambers is delighted to announce that Bobby Friedman and Jack Watson have been appointed King’s Counsel at today’s ceremony at Westminster Hall. Bobby Friedman KC Bobby is regularly instructed to lead teams in cases of the highest value and... Read more

    Monday 23 March 2026

    View more
  3. Placeholder

    Events / Webinars

    Wilberforce Guernsey Conference 2026

    Wednesday 13 May 2026 | 3pm - 6.40pm, followed by drinks and canapés
    Old Government House Hotel & Spa, St Peter Port

    Free to attend | 2.0 CPD

    View more
  4. Placeholder

    Events / Webinars

    Wilberforce Jersey Conference 2026

    Thursday 14 May 2026 | 3pm - 6.40pm, followed by drinks and canapés
    Radisson Blu Waterfront Hotel, St Helier

    Free to attend | 2.0 CPD

    View more

View all thought leadership