Cayman Islands: Weavering and the preferred custodian
Article by Aristos Galatopoulos Maples and Calder Plenty of ink has been spilled following the ruling of the Cayman Islands Court of Appeal on 18 November 2016 in the Weavering preference case SEB v Conway and Walker. The case is…
Cayman Islands: SEB v Weavering Court Of Appeal Judgment
Article by Guy Manning and Michael Popkin From Campbells WEAVERING PREFERENCE CLAIM UPHELD BY COURT OF APPEAL Earlier this year, the Cayman Islands Court of Appeal (“CICA”) heard the appeal of Skandinaviska Enskilda Banken AB (Publ) (“SEB”) against the 5…
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…
Cayman Islands Grand Court orders the repayment of redemption monies
:Preferences and clawing back redemption payments From Mourant Ozannes In Conway and Walker (as joint official liquidators of Weavering Macro Fixed Income Fund) v SEB1 the Grand Court of the Cayman Islands has, for the first time, ordered the re-payment…
Russia crisis hits Pimco Fund, wipes out options as ruble sinks
From Newsmax After the single worst day in Russia’s nine-month-old financial crisis, the fallout is spreading across global markets. Pacific Investment Management Co. is facing mounting losses on its Russian bond holdings; almost every bullish ruble option contract registered in…
