Interpay resolves multi-jurisdictional dispute with BVI entity involving Macau hotel and casino investment
Clients Interpay (Jersey) Limited and Mark Schofield
Jones Day successfully acted for Interpay (Jersey) Limited (a Jersey entity) and Mr. Mark Schofield in relation to a multi-jurisdictional dispute with a BVI entity, Leading Dragon Investments Limited, concerning Interpay's investment in a hotel and casino in Macau. The matter also involved considerations of Bahraini legal procedure. Having been threatened with a US$20 million claim in Bahrain, Interpay successfully seized jurisdiction in the UK by commencing proceedings in June 2010 for payment from Leading Dragon of almost US$9 million under a Loan Note Instrument and Subscription Agreement. By way of defense and counterclaim, Leading Dragon claimed in excess of US$20 million on the basis of an allegation that Interpay unlawfully conspired with, alternatively induced, Mr. Schofield, a director of Leading Dragon at the relevant time, to breach his fiduciary duties to Leading Dragon. A successful settlement was concluded in November 2010.