Offshore Litigation

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Offshore Litigation

The Offshore Litigation Blog is where you will find recent case updates, offshore litigation news, offshore filings lists, interviews and even some insights into island life, written by Harneys litigators from around the world.

Contributors

Jonathan Addo
Jonathan Addo
  • Jonathan Addo

  • Partner
  • British Virgin Islands
Ian Mann
Ian Mann
  • Ian Mann

  • Partner
  • Hong Kong
Nick Hoffman
Nick Hoffman
  • Nick Hoffman

  • Partner
  • Cayman Islands
Vicky Lord
Vicky Lord
  • Vicky Lord

  • Partner
  • Hong Kong
Chai Ridgers
Chai Ridgers
  • Chai Ridgers

  • Partner
  • Hong Kong
William Peake
William Peake
  • William Peake

  • Partner
  • London
Peter Ferrer
Peter Ferrer
  • Peter Ferrer

  • Partner
  • British Virgin Islands
Jeremy Child
Jeremy Child
  • Jeremy Child

  • Partner
  • London
Claire Goldstein
Claire Goldstein
  • Claire Goldstein

  • Partner
  • British Virgin Islands
Jayson Wood
Jayson Wood
  • Jayson Wood

  • Partner
  • Cayman Islands
Phillip Kite
Phillip Kite
  • Phillip Kite

  • Partner
  • London
Stuart Cullen
Stuart Cullen
  • Stuart Cullen

  • Partner
  • British Virgin Islands
Lorinda Peasland
Lorinda Peasland
  • Lorinda Peasland

  • Consultant
  • Hong Kong
Paul Madden
Paul Madden
  • Paul Madden

  • Partner
  • Cayman Islands
Jessica Williams
Jessica Williams
  • Jessica Williams

  • Partner
  • Cayman Islands
Paula Kay
Paula Kay
  • Paula Kay

  • Partner
  • Hong Kong
Andrew Thorp
Andrew Thorp
  • Andrew Thorp

  • Partner
  • British Virgin Islands
Henry Mander
Henry Mander
  • Henry Mander

  • Partner
  • Cayman Islands
Andrew Johnstone
Andrew Johnstone
  • Andrew Johnstone

  • Partner
  • Hong Kong
Nicola Roberts
Nicola Roberts
  • Nicola Roberts

  • Partner
  • Hong Kong
Julie Engwirda
Julie Engwirda
  • Julie Engwirda

  • Partner
  • Hong Kong
Paul Smith
Paul Smith
  • Paul Smith

  • Partner
  • Cayman Islands

Delaware Courts lean towards market-based valuation approaches

In Delaware, like in the Cayman Islands, shareholders have the right to dissent from a merger and demand “fair value” for their shares as determined by the Court.  A string of decisions from the Delaware Courts in the latter part of 2019 suggest a shift away from DCF towards market-based valuation approaches in appraisal proceedings.

Anya Park, Nick Hoffman,
Paul Madden, Vicky Lord

Exercising voting rights is not “dealing with” frozen assets

In the recent decision of Palladyne v Upper Brook the Cayman Islands Court of Appeal (CICA) analysed the Sanctions Order which gives effect to the resolutions of the UNSC which required the freezing of Libyan state assets. Shares in three Cayman investment funds held by specified Libyan entities were frozen pursuant to the Sanctions Order. Article 10(1) prohibits dealing with a frozen asset. The CICA upheld the judgment of Segal J (see Harneys’ previous article on that decision).

Anya Park, Nick Hoffman,
Paula Kay, Phillip Kite

Zacaroli J provides guidance for sanction hearings

In Re Equitable Life Assurance (4 December 2019) Zacaroli J sanctioned a scheme of arrangement in respect of England’s first mutual assurance society, which had been in solvent run-off since 2000. Equitable presented a scheme to address unfairness which would arise from the tontine effect in the run-off of Equitable’s with-profits business (by removing the with-profits business in exchange for the conversion of those policies to unit-linked policies but with an uplift in value).

Anya Park, Jayson Wood,
Ian Mann, Phillip Kite

New appellate guidance on the Duomatic principle

In the recent decision of Dickinson v NAL Realisations (released on 3 December 2019) the English Court of Appeal provided useful guidance on the Duomatic principle. The principle provides that where it can be shown that all shareholders who have a right to attend and vote at a general meeting of the company assent to some matter which a general meeting of the company could carry into effect, that assent is as binding as a resolution in general meeting would be.

Anya Park, Katie Pearson,
Julie Engwirda, Jeremy Child