The following case notes outline two significant recent
developments in the Cayman Islands.
Caribbean Islands Development Ltd. (in Official
Liquidation) v First Caribbean International Bank (Cayman) Limited
(unreported)
In a ruling handed down on 8 October 2014, the Cayman Islands
Court sent a strong reminder to litigants of the importance of
providing security for costs in a form appropriate for enforcement
by a Cayman resident defendant and, in doing so, highlighted the
dangers of proposing alternative solutions without the prior
approval of the Court.
The plaintiff, a Cayman Islands company in court-ordered
liquidation and acting through its joint official liquidators at
Rawlinson & Hunter (the JOLs), had
issued proceedings against a local bank alleging that it had failed
to fulfill its duties to the plaintiff in selling a property on its
behalf.
