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As a consequence, the shares were disabled and the shareholders were unable to exercise any rights attaching to them. In addition, the sole director of both of the Companies had died three years after the Transition Date but without having deposited or returned the shares, leaving the Companies effectively paralysed. Apart from being unable to deal with the shares in and assets of the Companies, there was a real danger that the BVI Financial Services Commission would apply for the appointment of a liquidator. To enable the bearer shares to be returned to the Companies for redemption, the shareholders sought the appointment of a Receiver over the shares as a mechanism to redeem them. The Registrar considered that a failure to deal with undeposited bearer shares before the Transition Date was the fault of the shareholder and that any windfall the State would receive as a result of the liquidation of the grandfathered bearer share company was justified.

The childish. To attract new business, these fake online dating websites must have lots of fake profiles. You want daying put that word bold Travesty dating me again Travesty dating. Cadwallader seemed like a mocking travesty wrought in the dark by an impish finger. The situation is dire for men. Upon the expiration of the transition date, the appellant became entitled to have the companies consider redeeming their shares. People spoke to each other.

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Related to travesty: travesty of justice.

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Related to travesty: travesty of justice. A debased or grotesque likeness: elections that were a travesty of democracy. An exaggerated or grotesque imitation, such as a parody of a literary work. Switch to new thesaurus. A false, derisive, or impudent imitation of something: burlesque , caricature , farce , mock , mockery , parody , sham. To copy the manner or expression of another , especially in an exaggerated or mocking way: ape , burlesque , caricature , imitate , mimic , mock , parody.

Idiom: do a takeoff on. Mentioned in? References in classic literature? It even prevailed over the miserable travesty of the song of David which the singer had selected from a volume of similar effusions, and caused the sense to be forgotten in the insinuating harmony of the sounds.

View in context. James; and the serio- comic ceremonials and mock parade which attended that singular travesty of monarchal style. As he approached quite close to me I obtained an excellent view of him, and though I was later to become better acquainted with his kind, I may say that that single cursory examination of this awful travesty on Nature would have proved quite sufficient to my desires had I been a free agent.

There is a kind of travesty of humanity over there. Cadwallader seemed like a mocking travesty wrought in the dark by an impish finger. Even a sceptic, who can see nothing but a travesty of bitter truth in anything holy or emotional, would have been melted to the heart had he seen that little group of loving and devoted friends kneeling round that stricken and sorrowing lady. If we look wider, things are all alike; laws and letters and creeds and modes of living seem a travesty of truth.

Heaven knows what gaudy sentimental parade we made in our borrowed plumes, but if the travesty had kept itself to the written word it would have been all well enough. What was this instrument--ticking away here in the great Sahara--but a travesty upon the possible!

If permission is given,it will be a travesty of justice. Letter: Out of order. If there is any justice, Blunkett, do something about this travesty NOW. Your Say: Reader's letter. Dictionary browser? Travers Travers P L. Full browser?

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As a consequence, the shares were disabled and the shareholders were unable to exercise any rights attaching to them. In addition, the sole director of both of the Companies had died three years after the Transition Date but without having deposited or returned the shares, leaving the Companies effectively paralysed. Apart from being unable to deal with the shares in and assets of the Companies, there was a real danger that the BVI Financial Services Commission would apply for the appointment of a liquidator.

To enable the bearer shares to be returned to the Companies for redemption, the shareholders sought the appointment of a Receiver over the shares as a mechanism to redeem them.

The Registrar considered that a failure to deal with undeposited bearer shares before the Transition Date was the fault of the shareholder and that any windfall the State would receive as a result of the liquidation of the grandfathered bearer share company was justified. Interestingly, at the High Court stage neither the Registrar considered nor the Judge held that the right to redeem a bearer share following the Transition Date was affected — ie it was still possible for a shareholder of undeposited bearer shares to return the shares for redemption after the Transition Date.

The Judge at first instance declined to appoint a Receiver, which she considered to be against the policy behind the elimination of bearer shares. The shareholders of the Companies appealed. Upon the expiration of the transition date, the appellant became entitled to have the companies consider redeeming their shares.

The Court conducted a thorough examination of the power to redeem bearer shares, including when such a power arose. The Registrar on the other hand had initially agreed that the power existed but prior to the Court of Appeal hearing had a change of heart, arguing that the power of redemption ceased to exist after the Transition Date. The appointment of a Receiver to return disabled bearer shares to a BVI company demonstrates that the Court of Appeal is prepared to be innovative and flexible to ensure that justice is done.

The Court of Appeal made clear that all was not lost just because bearer shares had not been dealt with prior to the Transition Date. Not only can bearer shares still be returned to the Company for redemption, but also, in circumstances where at first glance that may not appear to be possible for example there are no directors , a Receiver may be appointed for the purpose.

This judgment is welcome news to anyone still holding bearer shares in a BVI company which were not dealt with prior to the Transition Date — they can breathe a sigh of relief at knowing that their rights have not been permanently disabled and that their assets will not be confiscated by the State.

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Forward Thinking The appointment of a Receiver to return disabled bearer shares to a BVI company demonstrates that the Court of Appeal is prepared to be innovative and flexible to ensure that justice is done.

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