The Offshore Litigation Blog and our contributors
The Harneys Offshore Litigation Blog is a unique online hub for news and insights about offshore litigation in jurisdictions including the British Virgin Islands, the Cayman Islands, and Bermuda. We are the authoritative resource for recent cases, jurisdictional news, court lists, interviews with the judiciary and even some tips on island life.
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Not the Time or Place: Important considerations for proof of debt appeals
Justice Parker’s decision of In North Sound Pharmaceuticals Inc concerns an appeal against the rejection of a proof of debt in a liquidation. The judgment highlights a number of procedural and practical considerations for would-be appellants and their advisors alike.
10 Apr 2024
A numbers game: How many petitions does it take to appoint receivers to segregated portfolios within an SPC?
In the recent decision of In the Matter of Bo Run SPC, the Grand Court of the Cayman Islands considered whether it was permissible to file a composite petition to appoint receivers to a number of segregated portfolios within a single segregated portfolio company as opposed to filing separate petitions for each segregated portfolio.
09 Apr 2024
Pyrrhic defeat: a cautionary tale for ambushing ex parte applications
In the case of In the Matter of Orient TM Parent Ltd (Unrep, Grand Court, 27 July 2022), the Grand Court of the Cayman Islands dismissed with indemnity costs the petitioners’ application for the appointment of joint provisional liquidators (the JPLs) and alternative injunctive relief relating to the company’s assets.
04 Apr 2024
Birds fly across the wall: insufficient evidence to justify substituted service
In an earlier case of In the Matter of Orient TM Parent Ltd (Unrep, Grand Court, 27 July 2022), the Grand Court of Cayman Islands dismissed the application of the petitioners for substituted service of the winding up petition in the PRC, and was critical of the evidence filed in support, noting a distinct lack of it
26 Mar 2024
Proofs of debt: looking behind a default judgment
In the recent Hong Kong decision of Re Primlaks (H.K.) Ltd (In Liquidation), the High Court confirmed the liquidators’ decision to reject the applicant’s proof of debt (POD) on the grounds that: (1) the liquidators were entitled to go behind the default judgment, which formed the basis of the POD, on the ground of a miscarriage of justice; and (2) the applicant had not discharged its burden of proving the loans underlying the default judgment were genuine debts owed by the company.
25 Mar 2024
Expanded jurisdiction for interim orders issued by Cyprus courts
The Cyprus legal system has been subject to recent reforms which seek to streamline its processes and offer efficient recourse to the courts in dispute resolution.
12 Mar 2024
SARE, closed… due to fraud!
In the recent decision of Re SARE Public Company Limited, Petition 554/2017, 19/05/2023 the District Court of Nicosia, Cyprus issued an involuntary winding-up order against a Cyprus company on “just and equitable” …
27 Feb 2024
Restructuring officer regime applies to segregated portfolios
In the recent decision of In the Matter of Holt Fund SPC, the Cayman Islands Grand Court confirmed for the first time that it has jurisdiction to wind up a segregated...
20 Feb 2024
Singapore Court clarifies that crypto-debt can form the basis of a winding up petition
In a helpful decision for creditors of distressed crypto-platforms, the Singapore Court has clarified in Aaron Loh Cheng Lee and another v Hodlnaut Pte Ltd …
18 Dec 2023