Respecting Stakeholder Wishes

The Grand Court confirms that the "golden thread" of insolvency law is woven into the fabric of Section 131 of the Companies Law

 

In the Cayman Islands, it is frequently a feature of investment funds for the voting and participating shareholder rights to be held separately by the manager and the investor(s) respectively. The decision of the Grand Court of the Cayman Islands in Re Adamas Asia Strategic Opportunity Fund rightly held that in a solvent liquidation and in the context of an application under section 131(b) of the Companies Law (2018 Revision), the views of the economically enfranchised are paramount. In this case, the investor had the right to appoint its choice of liquidator(s).

 

Click to view advisory


CAYMAN ISLANDS
Neil LuptonPartnerT +1 345 914 4286neil.lupton@walkersglobal.com
Chris KeefeSenior CounselT +1 345 814 4574 chris.keefe@walkersglobal.com
Siobhan SheridanAssociateT +1 345 814 4558 siobhan.sheridan@walkersglobal.com

DUBAI
Barnaby GowriePartnerT +971 4 363 7942barnaby.gowrie@walkersglobal.com
Luke PetithSenior AssociateT +971 4 363 7926luke.petith@walkersglobal.com

HONG KONG
Timothy HaynesPartnerT +852 2596 3323timothy.haynes@walkersglobal.com

JERSEY
Fraser HernGroup PartnerT +44 (0) 1534 700 780fraser.hern@walkersglobal.com

LONDON
John O'DriscollPartnerT +44 (0)20 7220 4987john.o'driscoll@walkersglobal.com

SINGAPORE
Robert FootePartnerT +65 6603 1695robert.foote@walkersglobal.com