“Holding the Fort” – Cayman Islands Litigation

In the Cayman Islands, like many other common law jurisdictions, claimants have various tools available to them to try to protect their position pending a final ruling. For example, the Cayman Islands Grand Court can issue a freezing injunction, appoint receivers and/or appoint provisional liquidators in the appropriate circumstances.

Related briefings

The impact of COVID-19 on Cayman Islands restructurings

The long-term global impact of the COVID-19 pandemic will be far-reaching. It has already led to a significant drop in economic activity across the world, with certain industries, such as aviation, retail, hospitality and tourism, being particularly affected.

The Revenue Rule in the Cayman Islands and British Virgin Islands

It is well established, under common law principles applicable in the Cayman Islands and the British Virgin Islands, that claims for payment of foreign tax liabilities, or claims for the enforcement of foreign judgments for tax liabilities, will not be judicially recognized or enforced by the Cayman Islands courts or the British Virgin Islands courts. These principles are known as ‘the Revenue Rule’.

Bermuda Public Companies Update

This edition of the Bermuda Public Companies Update summarises significant transactions involving Bermuda companies on the New York Stock Exchange and Nasdaq in the first half of 2021.

Is their wish your command? Thoughts for trustees and settlors on letters of wishes

It is common practice when a trust is established for the economic settlor to provide a letter of wishes, addressed to the trustees of the trust, setting out their wishes with respect to the administration of the trust. For the trustees, such letters are often a valuable insight into the rationale for the establishment of the trust, how the trust assets are to be utilised and other background information about the family of the settlor and/or beneficiaries.

Latest Briefings

Supreme Court gives clarity on liquidated damages clause

In Triple Point Technology, Inc v PTT Public Company Ltd [2021] UKSC 29 (16 July 2021), the Supreme Court overturned the Court of Appeal to hold that liquidated damages for delay accrue from the due date for performance to the date the contract is terminated.

Beyond level 0 for Scotland hospitality businesses

Hospitality businesses react to First Minister’s announcement confirming 9 August 2021 end of “most” restrictions – is it a step back to life and a reality beyond Covid?

Asia Pacific impact lawyers online gathering

Moderated by the newly elected chair of esela APAC Impact Lawyers, Steven Moe of Parry Field Lawyers, this event considers the question “What does it mean to be an Impact Lawyer in Asia Pacific?”

Cayman update: separate liquidation committees for segregated portfolios of SPCs

On 19 April 2021, Chief Justice Smellie QC held in In the Matter of Premier Assurance Group SPC Ltd. (in Official Liquidation) that the court has the power under Order 9, rule 1(1) of the Companies Winding Up Rules, 2018 to order the establishment of separate liquidation committees in respect of a segregated portfolio company (SPC) and each of its segregated portfolios.

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