The Isle of Man Court has issued its latest judgment in the long running Broadsheet LLC winding-up proceedings.
On 9 April 2026, the Island’s Chief Justice, His Honour Deemster Corlett, issued a short and unequivocal judgment in Moussavi v Broadsheet LLC confirming when an applicant in winding-up proceedings has standing.
Mr Moussavi, who claimed to be the sole member and contributory of Broadsheet LLC, made repeated applications since August 2023 in the High Court and the Appeal Division, all of which have been dismissed. His latest application filed in October 2025 sought an Order that (a) the Court conducts an inquiry into the winding-up, (b) he be granted unlimited access to the books and records of Broadsheet LLC and the Court file and (c) the winding-up proceedings be stayed (the Application).
His Honour Deemster Corlett had no hesitation dismissing the Application on the grounds that (a) Mr Moussavi had no standing under the Companies Act 1931 or the Companies (Winding-Up) Rules 1934 to make the Application, (b) he had no standing under the Court’s inherent jurisdiction to make the Application and (c) even if he did have standing, there was no merit whatsoever in the Application. The Court also confirmed that Mr Moussavi was not a member or contributory of Broadsheet LLC but rather a debtor.
In giving his judgment, His Honour Deemster Corlett agreed with Advocate Tom Maher (who appeared for the Liquidator, Mr Gordon Wilson) that the seminal authority on standing in winding-up proceedings was the Privy Council decision in Deloitte & Touche AG v Johnson [1999] 1 WLR 1605. The test for standing in winding-up proceedings is a two-stage test:
1. firstly, does the applicant fall within the category of permitted or qualified applicants set out in the relevant statutory gateway;
2. secondly, even if the applicant falls within the statutory qualification, does he have a legitimate interest in the relief sought.
The Court held that Mr Moussavi had no standing under the relevant statutory gateways, namely sections 189, 194 and 204 of the Companies Act 1931 and Rule 12 of the Companies (Winding-Up) Rules. Even if he had such standing, His Honour Deemster Corlett confirmed that as the liquidation of Broadsheet LLC was an insolvency, Mr Moussavi was unable to demonstrate any economic interest to give him standing in any event.
A link to the judgment is here.
Advocate Tom Maher acted for the successful party, the Liquidator of Broadsheet LLC, Mr Gordon Wilson.
For more information on how Maher Law’s specialist dispute resolution team can assist in relation to Isle of Man insolvency and other Chancery litigation, please contact Tom Maher at tom@maher.im.
15 March 2026
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