The court upheld the decision of the Court of Appeal and, applying the ex turpi causa non oritur actio (ex turpi causa in brief) principle, struck out summarily the claim against the auditors Moore Stephens of the company Stone Rolls
There is the prospect of greater accountability and transparency in government if lessons can be learnt in response to any administrative flaws exposed by these challenges. Improved administration ought to be a welcome proposition.
It is not uncommon to hear statements to the effect that the rules of the court are intended to be complied with, and not intended to be mere ‘targets’ towards which to aspire.
Recent decision of the Grand Court provides clear guidance on clawback claims.
It has been a busy quarter for the Cayman Islands Court of Appeal with two decisions in particular requiring consideration - Weavering and Re Dyxnet.
The second quarter of 2015 has seen the passage of long awaited enabling legislation for the Cape Town Convention to apply in the Cayman Islands and an interesting decision from the Grand Court considering the use of the “oppression remedy” ...
As we move into the final quarter of 2015 we expect to see further developments with respect to local implementation of the CRS and the Cayman AIFMD Regime.
If you are not a lawyer, you may find this next sentence very good news. We are entering a period in human history in which we are going to need fewer lawyers, at least the traditionally trained variety.
The ELP Bill provides that a limited partner does not owe any fiduciary duties to the exempted limited partnership or any other partner when exercising any of its rights or authorities or otherwise in performing any of its obligations under the partnership agreement.