The Resource Group International Ltd v Chishti and Pobereskin [2026] SC (Bda) 22 Civ (25 February 2026)

12th March 2026

On 19 January 2026, the Supreme Court of Bermuda made Orders in aid of the enforcement of an Arbitration Award which Award the Court had recognised and in respect of which the Court had granted leave to enforce on 4 July 2025 Bermuda.

Michael Todd KC and Matthew Mason (ASW Law limited) acted for the Applicant.

The Applicant, TRG-I, sought leave to issue a writ of execution in respect of those shares in TRG-I some of which were registered in the debtor’s name and some of which were registered in the name of company which he owned and controlled. In aid of that execution, TRG-I also sought an order requiring the debtor and the company owned and controlled by the debtor (by its proper officer) to execute instruments of transfer in relation to the TRG-I shares held in their respective names in favour of receivers, who had previously been appointed in aid of a freezing order made against the debtor. The purpose of those orders was to enable the receivers to take steps to value the shares and then take steps to sell those shares (under RSC 1985 O46 r7),  and to apply the proceeds of sale against the judgment debt owed to TRG-I. In addition, TRG-I sought an order giving the receivers power to vote the shares if they considered it necessary or appropriate to do so in order to preserve or protect the value of the shares prior to their sale.

In granting the relief sought, the Court observed that TRG-I’s application involved an unusual exercise of the powers  of the Court under RSC O46 r7, which has no equivalent in England, and which powers had not received detailed consideration for some time. Further the Court expressed regret that Bermuda had not yet adopted a Charging Orders Act along the model of the English Charging Orders Act 1979, which would have made the enforcement process streamlined and would have brought it into line with enforcement mechanisms that are internationally recognised and available in most other jurisdictions which conduct international commercial business on any scale.

Please click here to view a copy of the Judgment.