Bermudan injunction removed after Pacific Challenge appeal

Pacific Challenge has removed a Bermudan court injunction that would have prevented it from setting up a recently announced joint venture investment vehicle. Disgruntled shareholder Kistefos Investment obtained the injunction last week. On appeal the Bermudan court ruled the injunction was granted under a 'misleading impression' that Pacific Challenge had no ongoing businesses, according to a company statement. The injunction was the latest twist in a long-running corporate battle between Kistefos and the largest Pacific Challenge shareholder, E1 Media Technology.