Campbells is pleased to announce that Guy Manning, Head of our Litigation, Insolvency & Restructuring Group, reached the South Pole on 13 January 2019. In doing so he completed the penultimate leg of the Explorers’ Grand Slam, the challenge of climbing the Seven Summits and skiing to both Poles.
In this Q&A Guy Manning and Kirsten Houghton provide an overview with regard to third-party funding of litigation as part of the Getting the Deal Through 2019 Cayman Islands Guide.
In early January, Campbells Partner Guy Manning will set off to ski to the South Pole. The expedition is the penultimate leg of Guy’s attempt to complete the “Explorers’ Grand Slam” of climbing the Seven Summits and reaching the North and South Poles.
Campbells, in partnership with the Cayman Islands Association of Mediators and Arbitrators, (CIAMA) will be hosting a seminar on The Role of Insurers in Mediation of Disputes.
In a judgment delivered on 8 October 2018, the Cayman Islands Court of Appeal (“CICA”) allowed a partial appeal by the joint official liquidators of Argyle Funds SPC Inc. (in Official Liquidation) (“Argyle”) against an anti-suit injunction of the Grand Court of the Cayman Islands that had restrained Argyle from continuing litigation in the Supreme Court of the State of New York against three parties related to Argyle’s former statutory auditor, BDO Cayman Ltd (“BDO Cayman”).
Campbells is pleased to announce that Jenny Nip has joined the firm’s Hong Kong office as a partner in the Corporate & Finance Group.
Significant Decision of the Eastern Caribbean Supreme Court – Court of Appeal: Jurisdiction and Service Out21 Sep 2018
On 18 September 2018 the Court of Appeal handed down judgment on the matter of Livingston Properties Equities Inc and Ors v JSC MCC EuroChem and Ors. The case is important because it sets out the criteria to be applied when considering whether a proceeding involving issues of foreign law and foreign defendants should properly be brought in BVI or in some other jurisdiction.
In a judgment likely to have significant consequences for litigants and third parties seeking access to Court documents, the Cayman Islands Court of Appeal (CICA) has clarified what documents third parties to litigation may obtain from the Court file and the parties to litigation before the Grand Court of the Cayman Islands
We note that interest is growing in the new form of British Virgin Islands limited partnership that can be registered under the Limited Partnership Act 2017 (the “Act”). In the context of banking and finance transactions, there is increasing awareness among lenders of the ability to take security over limited partnership interests. Taking security over limited partnership interests can be useful in a variety of finance transactions, whether the security is being granted by the borrower or a third party.
How to strike the balance between open justice and confidentiality? In reasons delivered on 25 July 2018 in respect of an Ex Parte Originating Summons (“Confidentiality Summons”) issued in March 2018 in connection with In the Matter of Settlement dated 16 December 2009, the Grand Court of the Cayman Islands considered whether to make confidentiality orders in the context of a case involving the proper administration of a Cayman Islands discretionary trust. The application raised constitutional and public policy issues pertaining to the tension between the constitutionally-enshrined requirements of open justice and legitimate private grounds for confidentiality.