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On 5 April 2012, after a hotly contested winding up hearing, the Chief Justice of the Grand Court of the Cayman Islands ruled in favour of the petitioners and made an order for the winding-up of FIA Leveraged Fund, managed by Fletcher Asset Management, Inc.

The Cayman Islands Legislature passed the Patents and Trade Marks Law, 2011 on 7 December, 2011 repealing the prior Patents and Trade Marks Law (2007 Revision) and making important changes to the practice of patents and trademarks in the Cayman Islands.