Category Archives: Articles

Norwich Pharmacal Relief in the offshore world: the latest developments in Cayman and the BVI

13 Nov 2019

In recent years, the offshore courts have shown a greater willingness to provide assistance to claimants or potential claimants by ordering third parties to disclose information about wrongdoing. Norwich Pharmacal relief, the equitable principle by which the courts make orders for discovery against innocent third parties who are “mixed up” in the wrongdoing of others, has been used by common law courts for decades. It has become an increasingly attractive tool in the offshore world to assist with tracing assets and enforcing judgments or arbitral awards, particularly against registered agents who hold potentially valuable information about entities incorporated offshore.

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Guidance from Cayman on validation orders: facilitating the transfer of shares on the Hong Kong Stock Exchange and variation of orders entered by consent

04 Nov 2019

A recent judgment of the Grand Court of the Cayman Islands (the Court) in China Shanshui has considered validation orders to allow for the trading of shares on the Hong Kong Stock Exchange whilst a winding up petition is pending. It also considered the basis upon which a validation order previously agreed by consent of the parties could be varied.

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CDR – Primeo Fund v HSBC: On reflection

12 Sep 2019

The Cayman Islands Court of Appeal recently dismissed the USD2 billion appeal by Primeo, a Madoff feeder fund. Campbells represented the successful HSBC respondents. Andrew Pullinger and Shaun Tracey discuss the wider significance of the appellate judgment, particularly concerning the rule against the recovery of reflective loss.

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