Cayman Islands: More clarity on redemption rights for distressed funds
By Robert Searle DEACONS From Lexology When Cayman Islands funds undergo liquidity stress on their balance sheet due to holding illiquid assets or irregular large redemption requests, directors of Cayman Islands funds generally consider mechanics to provide for an orderly…
Cross-Border Comity at Cayman Islands Court of Appeal – the Picard V Primeo decision
By Colin D McKie and Caroline Moran From Maples and Calder On 16 April 2014, the Court of Appeal handed down the much-anticipated decision in Irving H Picard and Bernard L Madoff Investment Securities LLC v Primeo Fund. In short,…
Cayman Court of Appeal clarifies the scope of the international cooperation provisions of the Companies Law
From Mourant Ozannes The Court of Appeal (Chadwick, Mottley and Campbell JJA) delivered its judgment in the case of Picard (Trustee for the liquidation of Bernard L Madoff Investment Securities LLC) v Primeo Fund (in official liquidation) on 16 April…
