On 29 October 2020 the Eastern Caribbean Court of Appeal issued its decision in response to our appeal and held that we could not sue Proskauer in Antigua.  In respect of the ongoing US litigation in this matter, in which Proskauer was seeking to enforce a  US bar order against the Antiguan Joint Liquidators, the United States Court of Appeals for the Fifth Circuit also held a hearing on this matter in December 2020. 

Following these events we have agreed with Proskauer to drop our claims against them which brings to an end all proceedings in Antigua and the US involving Proskauer and SIB.  Each party is responsible for their own costs in respect of the US and Antiguan litigation proceedings.  We decided that this was the best course of action in view of the latest decision of the Eastern Caribbean Court of Appeal.  All matters as between Proskauer and the Antiguan liquidation estate of SIB have now ended.