On 20 November 2023, the Grand Court of the Cayman Islands (the "Grand Court") issued its ruling on a preliminary issue in In the matter of Re BPGIC Holdings Limited; namely whether a winding up petition should be stayed or...more
As 2023 gets into its stride and with the financial markets forecasting severe economic challenges in 2023, we are seeing an increasing number of enquiries from creditors with respect to debts owed by BVI incorporated...more
On 3 February 2023 the Grand Court of the Cayman Islands delivered a judgment in the matter of Nasser Sulaiman HM Al Haidar v Jetty Venkata Uma Mahewshawara Rao (FSD 328 OF 2022 (IKJ)) explaining its decision to grant leave...more
There has been an increase in claims relating to misappropriated cryptoassets in offshore jurisdictions. The Courts of the Cayman Islands, BVI and Bermuda are guided by the decisions of the Courts of England and Wales. ...more
As part of our series looking at the potential impact of recent cases on the future decisions of the Cayman Islands, BVI and Bermuda Courts relating to crypto assets, we consider the English decision of LMN v Bitflyer...more
In Sian Participation Corp. (In Liquidation) –v- Halimeda International Limited BVIHCMAP2021/0017 (“Sian”), the Eastern Caribbean Court of Appeal again had occasion to consider (amongst a number of other things) the...more
BVI Business Companies (Amendment) Act revisions effective 1 January 2023 -
In our advisory Summary of Key Changes issued in September 2022, we discussed some of the key changes to the BVI Business Companies Act, 2004 (the...more
Introduction -
The Judicial Committee of the Privy Council has handed down its long-awaited judgment in the joined cases of Equity Trust (Jersey) Ltd v Halabi and ITG Ltd and others v Fort Trustees Ltd, each focusing on...more
After much anticipation, the UK Supreme Court has handed down its judgment in BTI 2014 LLC v Sequana S.A. [2022] UKSC 25 - and has authoritatively set the baseline for how directors’ duties evolve as regards shareholders and...more
The full strength of the economic headwinds facing the UK economy is not yet clear, but a helpful recent report by insolvency and restructuring adviser Begbies Traynor provided some useful numbers around the attitudes of...more
As part of our series looking at recent BVI and Cayman Islands cases affecting the Middle East we look at the recent case of Sheikha Amena Ahmed H.A. Al-thani et al v Sheikha Aisha Mohammed Ali Abdullah Al Thani et al, in...more
As part of our series looking at the potential impact of recent cases on the future decisions of the Cayman Islands and the BVI Courts relating to crypto assets, we consider the recent English decision of Tulip Trading...more
Courts in offshore jurisdictions have started to adopt the decisions of the English Courts when granting relief with respect to the dissipation and recovery of crypto-assets. One example is the recent decision in ChainSwap v...more
Under Order 24, rule 1 of the Grand Court Rules (“GCR”), a party is required to give discovery of “documents which are or have been in his possession, custody or power”.
Given the importance of “power” to determine -...more
A recent decision of Kawaley J sitting in the Grand Court of the Cayman Islands (the “Grand Court”) has provided helpful clarification on what he described as a “legally significant” and “important jurisdictional point”. The...more
Overview -
In a recent decision of the Grand Court of the Cayman Islands (the "Court") concerning a supervision order in respect of a Cayman company in voluntary liquidation, Kawaley J considered the settled principles in...more
Executive Summary -
Where multiple Cayman Islands entities in the same corporate structure become subject to insolvency proceedings (e.g. Cayman Islands master/ feeder fund structures), the Cayman Islands Courts will...more
The Insolvency and Dispute Resolution team at Walkers in Dubai continue to advise on the impact of the recent sanctions imposed on Russia in an offshore context, including whether such sanctions can give rise to a defence for...more
7/8/2022
/ Business Disputes ,
Cayman Islands ,
Commercial Contracts ,
Contract Disputes ,
Economic Sanctions ,
Force Majeure Clause ,
Foreseeability ,
Frustration of a Common Purpose ,
Impossibility ,
Military Conflict ,
Nonperformance ,
Russia ,
Trade Relations ,
Ukraine