Restoration of the ‘Redemption Creditor’ in the Cayman Islands
By Matthew Goucke and Chris Keefe From Walkers A recent judgment of the Cayman Islands Court of Appeal (‘CICA’) has provided a welcome degree of certainty for investors and insolvency practitioners alike with respect to the priority to be afforded…
Home and dry – when can investors be confident that distributions will not be clawed back?
By Ulrich Payne, Giorgio Subiotto, Paul Murphy, From Ogier When an investor secures a redemption payment from a fund that subsequently goes into liquidation, the investor – understandably – derives an enormous sense of relief that he managed to abandon…
Cayman Islands: Cayman Clawback Orders against Weavering investors upheld
Article by Rachael Reynolds and Paul Murphy Ogier From Mondaq In November 2016 the Cayman Islands Court of Appeal (“CICA”) rejected Skandinaviska Enskilda Banken AB’s (Publ) (“SEB”) appeal against Mr Justice Clifford’s decision to order that redemption proceeds of approximately…
A Review of Cayman Islands DPP Statement on the Pines
By Peter Polack The recent and rare statement issued by the Office of the Director of Public Prosecutions (ODPP) came more in the form of an extract from the UK Crown Prosecution Service manual than a believable explanation to the…
Paying the costs of petitioning in the Cayman Islands
Article by Jeremy Walton and Jeremy Snead From Appleby If a creditor successfully petitions for the winding up of a defaulting debtor in the Cayman Islands, it has the benefit of a priority recovery of those costs over the unsecured…