KALO APPOINTMENT IS A BVI FIRST
Kalo’s Eleanor Fisher and Paul Pretlove have been appointed as joint provisional liquidators in a landmark case that has been described as the first of its kind in the BVI.
On February 4, 2019, BVI Commercial Court Judge Neville Adderley handed down his written reasons to appoint “soft-touch” joint provisional liquidators over six BVI-registered companies belonging to Constellation Oil Services Holding S.A., an oil and gas drilling group that is restructuring in Brazil.
Kalo managing director, Eleanor Fisher, commented: "We are pleased to be part of Constellation Group’s cross-border restructuring and recognise the importance of this judgment as it opens the door for companies considering the implementation of a financial restructuring in the BVI. Provisional liquidation is a flexible tool that has been used to good effect in other offshore jurisdictions”.