Unravelling
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Unravelling Complexity

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Corporate receivership applications – Fighting back
Litigation, Insolvency and Restructuring

Corporate receivership applications – Fighting back

This article, published by IFLR, discusses the role of receivership applications within the Cayman Court. Paul Smith and Katie Pearson deliberate the alternative ways receivers can be appointed, including prior to judgement and by way of equitable execution. The article draws upon several cases from the Cayman Islands courts, including the 2011 case of TMSF v Merrill Lynch Bank and Trust Company (Cayman) Ltd.
Illegality defense developments in UK and Cayman Islands
Litigation, Insolvency and Restructuring

Illegality defense developments in UK and Cayman Islands

The principles that a person should not benefit from his own wrongdoing and that the law should not condone illegality are longstanding. Keen legal historians might be aware that these are precepts in Roman law and there are echoes in Deuteronomy. In its broadest form, it extends to conduct which is not just illegal but also unethical. Download the PDF to read more.
Getting the Deal Through: British Virgin Islands Complex Commercial Litigation
Corporate

Getting the Deal Through: British Virgin Islands Complex Commercial Litigation

Andrew Thorp, Jonathan Addo and Mark Rowlands give an overview of complex commercial litigation in the British Virgin Islands in the latest chapter of Getting the Deal Through: Complex Commercial Litigation. Download the PDF to read more.
The future of legal professional privilege
Litigation, Insolvency and Restructuring

The future of legal professional privilege

The Court of Appeal's anxiously awaited decision in The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Limited was handed down in September this year, with the Court of Appeal overturning the ruling of the High Court insofar as it related to litigation privilege. We now know that the SFO does not intend to appeal to the Supreme Court (it has, however, warned that it will “continue to thoroughly assess the merits of all privilege claims and remains prepared to challenge those it considers to be ill founded”). Harneys Associate Jacqueline Ziemniak discusses the matter further in a recent article published by Global Legal Chronicle.
Risky business: directors’ indemnities and exculpation in the Cayman Islands
Litigation, Insolvency and Restructuring

Risky business: directors’ indemnities and exculpation in the Cayman Islands

In the Cayman Islands, where there is no specific law on directors’ duties, it’s common for company articles of association or service contracts to limit or exclude directors’ liability or indemnity. In a recent article published by Global Restructuring Review, Partner Nick Hoffman and Senior Associate Gráinne King examine some of the key terms found in these limitation or exclusion clauses, as well as a number of fresh developments in Cayman Islands case law.
Alternatives to just and equitable winding up in practice
Litigation, Insolvency and Restructuring

Alternatives to just and equitable winding up in practice

This article, published in the InterContinental Finance & Law magazine, discusses alternatives to just and equitable winding up in practice and illustrates some of these alternatives with case examples, before considering the extent to which there is still a place for such relief. Download the PDF to read more.