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Client Advisories

Primeo Fund v HSBC: Grand Court rules that Madoff feeder fund was “the author of its own misfortune”

23 Aug 2017
The Grand Court of the Cayman Islands has delivered judgment in the long-running claim by Primeo Fund (in Official Liquidation), a Madoff feeder fund, against its HSBC group administrator and custodian seeking in excess of US$2 billion in damages. The Court dismissed the claim on grounds including that Primeo had failed to establish that any acts or omissions by the defendants had caused its loss. This important judgment provides guidance to fund industry professionals concerning the scope of their obligations.
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The Rise of Arbitration in the Cayman Islands

14 Aug 2017
Anecdotally, there has been a marked increase recently in the use of arbitration as a means by which to resolve commercial disputes in the Cayman Islands. In light of the increasing prevalence of arbitration, it is timely to remind potential users of arbitration in the Cayman Islands of its availability and possibly significant advantages over other forms of dispute resolution. We therefore address in this brief note some common questions relating to arbitration in this jurisdiction.
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