The Grand Court of the Cayman Islands (Court)
has recently revisited the approach that is to be taken to
calculating interest on awards, and determining costs, in
proceedings under section 238 of the Cayman Islands Companies
Act.
For further background on interest and costs in section 238
proceedings, please refer to this briefing.
This latest decision in the appraisal of Trina Solar
Limited1 is likely to be welcomed by dissenting
shareholders, particularly where their rate of return on other
investments has been high during the period of the section 238
litigation, or where the uplift achieved on the merger price is
relatively modest compared to the valuation that they contended for
at trial.
