News & Events

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.

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.

In April 2023, the Cayman Islands Monetary Authority issued a new Statement of Guidance on Corporate Governance for Mutual Funds and Private Funds and Rule on Corporate Governance for Regulated Entities.  The Rule and SOG will replace the existing corporate governance regulatory measures.