LAWFUEL- The Law Firm Newswire – Today, Thursday 29 November, in Hamilton, Bermuda, the High court validated a master settlement agreement between IPOC International Growth Fund Limited and LV Finance Group Limited and others, which finally brings to an end a series of global litigations and arbitrations which have taken place over the last four years.
SJ Berwin LLP acted on behalf of LV Finance Group Limited. The drop-hands settlement ends a dispute worth over USD 2 billion involving arbitrations in Zurich and Geneva and related actions in Bermuda, the British Virgin Islands, and other jurisdictions. The actions started in September 2003 and has attracted substantial international press attention.
The settlement agreement required Court approval, which was obtained this morning from Justice Ian Kawaley. SJ Berwin partner Justin Michaelson acting on behalf of LV Finance Group Limited said: “This represents a terrific result for LVFG and is a vindication of our client’s position in response to all IPOCs claims”
Also acting on behalf on LVFG were Jeffrey Elkinson of Conyers Dill and Pearman and Dr Balz Gross of Homburger Rechtsanwälte.