ArticleCayman Islands Court Of Appeal Allows Appeal Against A Refusal To Enforce A Foreign Arbitral AwardThe Cayman Islands Court of Appeal ("CICA")[1] has allowed an appeal against the February 2019 Grand Court judgment of Mangatal J...Cayman IslandsLitigation, Mediation & ArbitrationCampbells
ArticleSetting Aside A Statutory Demand – BVI Commercial Court Provides Further Guidance Regarding The Application Of The Sparkasse TestOn 22 January 2020, the Court handed down judgment in the matter of Pacific Fertility Institutes Holding Company Limited v Pacific Fertility Institutes (HK) Holding Company Limited.British Virgin IslandsFinance and BankingCampbells
ArticleHerald v Primeo: The Court Of Appeal Clarifies The Status And Priority Of Unpaid Redemption CreditorsIn a recent judgment, the Cayman Islands Court of Appeal (the "Court") has upheld the decision of the Grand Court which found that investors who have redeemed their shares but remain unpaid at the commencement of a company's liquidation are entitled to prove in the liquidation for their redemption proceeds as a creditor. Cayman IslandsCorporate/Commercial LawCampbells
ArticleCayman Islands Courts Roll Out Judicial Mediation Of DisputesIn a welcome development, the Courts of the Cayman Islands have introduced new measures concerning the judicial mediation of disputes. By Practice Direction No. 3 of 2022...Cayman IslandsLitigation, Mediation & ArbitrationCampbells
ArticleBeneficial Ownership Registers To Be Implemented For Cayman Islands' CompaniesThe registered office service provider for each Cayman Islands company should contact the company with regard to the requirements of the Regime.Cayman IslandsCorporate/Commercial LawCampbells
ArticleShare Register Rectification: Primeo V Additional Liquidator Of HeraldWhen settling a list of shareholders in a solvent liquidation of a Cayman Islands company that has issued redeemable shares tied to a NAV, what is the scope of an official liquidator's power to rectify...Cayman IslandsCorporate/Commercial LawCampbells
ArticleValidation Orders Under Section 99 Of The Companies Law – Explained By The Cayman Islands Court Of AppealThe Cayman Islands Court of Appeal has clarified the purpose and effect of section 99 of the Companies Law and the principles to be applied in granting validation orders in an important decision handed down earlier this year: Cayman IslandsCorporate/Commercial LawCampbells
ArticleCayman Restructuring – A Proposal For A Formal Restructuring Regime In The Cayman IslandsFollowing years of discussion, the bill for the long awaited proposed amendments to the Cayman Islands Companies Act (the "Act"), providing for a standalone restructuring regime for companies, was gazetted last week.Cayman IslandsInsolvency/Bankruptcy/Re-StructuringCampbells
ArticleHarbinger Of Change To The Loss Of Substratum Test Applicable To Cayman Islands CompaniesThe Grand Court of the Cayman Islands clarified two matters concerning petitions to wind up a company on the just and equitable ground on the basis it has lost its substratum.Cayman IslandsInsolvency/Bankruptcy/Re-StructuringCampbells
ArticleThe Importance Of The Laws Of A Company's Place Of Incorporation In Cross-Border Insolvency ProceedingsSince the landmark decision in Lamtex early last year in Hong Kong, there has been a flurry of Hong Kong cases in which the Hong Kong Court has wound up a debtor company (incorporated offshore)...Cayman IslandsInsolvency/Bankruptcy/Re-StructuringCampbells
ArticleCayman Grand Court Authorises Disclosure Of Confidential Documents To A Related PartyIn the recent judgment of In The Matter of the Kuwait Ports Authority (FSD 118 of 2021, unreported, 8 March 2022, Parker J), the Cayman Grand Court considered the scope of its jurisdiction...Cayman IslandsLitigation, Mediation & ArbitrationCampbells
ArticleGuidance From Cayman On Validation Orders: Facilitating The Transfer Of Shares On The Hong Kong Stock Exchange And Variation Of Orders Entered By Consent recent judgment of the Grand Court of the Cayman Islands (the "Court") in China Shanshui[1] has considered validation orders to allow for the trading of shares on the Hong Kong Stock Exchange ...WorldwideCorporate/Commercial LawCampbells
ArticleThe British Virgin Islands Virtual Assets Service Providers Act, 2022Following our September 2022 client advisory, the BVI Virtual Assets Service Providers Act, 2022 was enacted on 29 December 2022.British Virgin IslandsTechnologyCampbells
ArticleMind The Gap: Clarifying The Scope Of Sanction ApplicationsA recent decision of Mr Justice Doyle has provided welcome guidance in relation to the scope and extent of sanction applications brought by official liquidators. In a judgment handed down on 3 November 2022...Cayman IslandsCorporate/Commercial LawCampbells
ArticlePrimeo v HSBC: Privy Council Further Narrows The Reflective Loss PrincipleIn a significant judgment delivered on 9 August 2021, the Judicial Committee of the Privy Council granted the preliminary limb of a bifurcated appeal by Primeo Fund (in Official Liquidation), a Madoff feeder fund, ...Cayman IslandsCorporate/Commercial LawCampbells
ArticleCayman Islands Update: Proposed Legislative Changes Following CFATF AML / CFT Mutual Evaluation ReportOn 19 March 2019, the Caribbean Financial Action Task Force ("CFATF") issued its latest assessment of the Cayman Islands' AML/CTF/CFP regime (the "March Report").Cayman IslandsFinance and BankingCampbells
ArticleRestructuring Review 2021The first part of this chapter looks at the key aspects of the successful Cayman Islands restructuring regime. Cayman IslandsInsolvency/Bankruptcy/Re-StructuringCampbells
ArticleGOL! Privy Council Upholds Cayman Court Of Appeal Decision To Enforce Foreign Arbitral Award In Favour Of Brazilian AirlineIn a judgment delivered on 19 May 2022,[1] the Judicial Committee of the Privy Council upheld the 2020 decision of the Cayman Islands Court of Appeal ("CICA") to allow an appeal against...Cayman IslandsLitigation, Mediation & ArbitrationCampbells
ArticleFreeman Fintech Corporation: Case Report – Part One: Recognition And Assistance Of Officeholders Appointed By A Foreign Court Over Cayman Incorporated CompaniesThe Cayman Court recently recognised joint provisional liquidators appointed by the Hong Kong court over a Cayman company for the purposes of the company presenting parallel schemes of arrangement...WorldwideCorporate/Commercial LawCampbells
ArticleFreeman Fintech Corporation: Case Report – Part Two: The Sanctioning Of Parallel Schemes Of Arrangement Where There Exists Foreign Governed DebtThe Cayman Court recently recognised joint provisional liquidators appointed by the Hong Kong court over a Cayman company for the purposes of the company presenting parallel schemes of arrangement...WorldwideCorporate/Commercial LawCampbells