August 15, 2022

UK’s Privy Council confirms Cayman Islands GC decision ‘redeemed’ Madoff investors are creditors

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By Helen Burggraf From International Investment In what has been called a decision “of significant interest to the fund industry”, the UK’s Privy Council has upheld a ruling by the Cayman Islands Grand Court which held that redeemed but unpaid investors in failed investment funds managed by Bernard Madoff’s company should be treated as creditors in […]

Leave for Cayman derivative actions – international or domestic only?

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From APPLEBY Overview The rules of court in the Cayman Islands control shareholders’ entitlement to issue proceedings in the name of their company. A recent decision of the Appellate Division of the New York Supreme Court has confirmed that any derivative proceeding issued in New York on behalf of a Cayman-incorporated company without the prior […]