Category Archives: Client Advisories

Out with the Hould: landmark decision paves the way for shareholder misrepresentation claims against companies in liquidation

07 Jul 2023

In a significant decision for the Cayman Islands in In The Matter of HQP Corporation Ltd (in Official Liquidation) (FSD 190 of 2021 (DDJ)), the Grand Court has clarified that there is no bar to shareholders bringing claims for misrepresentation against a company in liquidation and, further, that such claims (if admitted) will rank as unsecured debts of the company.


The Port Fund: Limited Partner Joinder and General Partner Interim Receivership

01 Jun 2023

In a judgment delivered on 25 May 2023, the Grand Court of the Cayman Islands ordered the joinder of two plaintiff limited partners of The Port Fund L.P. as defendants to a crossclaim which had been filed against the general partner of the Fund, and appointed interim receivers over the GP to manage litigation related to the GP and the Fund, notwithstanding the GP was in voluntary liquidation.


Cayman Islands Court of Appeal rules on limited partner derivative actions

03 Feb 2023

This advisory discusses the recent judgment of the Cayman Islands Court of Appeal in Kuwait Ports Authority & Ors v. Port Link GP Ltd & Ors, clarifying the test for limited partners in a Cayman Islands exempted limited partnership to bring derivative claims for and on behalf of the ELP pursuant to section 33(3) of the Exempted Limited Partnership Act (2021 Revision).


Sequana: Directors’ Duties and Creditors

05 Oct 2022

The Supreme Court in England in BTI v Sequana [2022] UKSC 25 has clarified when directors owe duties to the company that should take into account creditors’ interests. The decision will be highly persuasive in the Cayman Islands on directors’ duties.


Cayman Islands issues general sanctions licence for funds industry

The issue which the General Licence addresses is where a Designated Person owns more than 50% of an investment fund which has hitherto meant that the fund is paralysed and all of its assets are frozen. This provides relief from aspects of the financial sanctions imposed in the Cayman Islands by the Russia (Sanctions) (Overseas Territories) Order 2020 (the “Order”).