On April 4, 2014, Justice Andrew Jones QC delivered the written reasons for his decision to authorize the Joint Official Liquidators (JOLs) of two Cayman Islands funds to enter into a contingency fee agreement with a firm of New York attorneys.
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” ...
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 has been a busy quarter for the Cayman Islands Court of Appeal with two decisions in particular requiring consideration - Weavering and Re Dyxnet.
The increasing number of challenges has been evident and there have been four cases on the subject of residence and domicile in the same number of months. This article looks first at three cases involving persons leaving the UK and second at a person coming to the UK.
The Privy Council issued its decision in the Fairfield Sentry case providing greater certainty as to the finality of the subscription price, redemption price and calculation of net asset value for hedge funds.
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.
Prest v Petrodel has something for almost everyone: appalling behavior, a glimpse into the lives of the fabulously wealthy and a diverse range of legal issues appealing to corporate, insolvency, trusts and family lawyers alike.
Tania Dons of Conyers Dill & Pearman provides an overview of legislative changes, legal issues and case law of note in the Cayman Islands over the last quarter.
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.
Fallout from the sub-prime credit crisis, the Bernard Madoff affair and recent events in the banking and finance sector have had a severe impact on the hedge fund industry leaving many offshore funds facing substantial redemption requests with insufficient liquidity to meet them.