08/11/2022
McGrath Tonner v Khatidja McLean – when can default judgment be set aside or varied in Cayman?
The Judge helpfully set out the two-fold test for setting aside default judgment and summarised the relevant authorities
Court Cases
08/10/2022
What does the New York Convention require in terms of due process?
The claimant obtained an award against two private equity limited partnerships in arbitral proceedings seated in Brazil
08/10/2022
Arbitration stations – guidance from the Privy Council on the standard of due process when enforcing arbitral awards in the Cayman Islands
The standard of due process being imposed by the domestic statutory provision therefore still needed to be capable of applying to any international arbitration
08/04/2022
U.S. Supreme Court to Rule on Conflict Relating to How to Prevent U.S. Persons with Overseas Accounts from Circumventing U.S. Law
The FBAR provides the Department of Treasury with information from United States persons with financial interests in accounts abroad.
08/01/2022
EU court’s merger ruling signals increased gun-jumping risk for firms
The court found that the Commission has the power to review any merger that may raise significant competition concerns within the EU, even if the companies involved do not have activities in Europe – or the merger falls below the EU’s turnover
08/01/2022
ClientEarth case shows courts willing to scrutinise governments’ climate strategies
The UK’s current NZS includes a commitment to ensure that the UK will be powered entirely by clean electricity by 2035.
08/01/2022
Victorian Court of Appeal clarifies when time starts to run where multiple occupancy permits issued
The Court of Appeal’s decision is significant to the construction industry in clarifying the commencement date for limitation periods under the Act for projects that involve more than one occupancy permit.
07/29/2022
Court of Appeal: tenants’ commercial rent arrears appeals dismissed
The tenants’ defences included arguments on rent suspension, implied terms and failure of consideration (Cine-UK Limited) and implied terms and a failure of basis
07/27/2022
Houst restructuring plan sanctioned despite HMRC opposition
The company was both cashflow and balance sheet insolvent and three creditors threatened it with winding-up petitions.
07/25/2022
Court of Appeal overturns injunction preventing employer from ‘firing and rehiring’
The case highlights once again the legal, political and moral complexities surrounding ‘fire and rehire’.
07/22/2022
Court orders UK Government to revise net zero target policies report
On 18 July 2022, the Court allowed environmental campaign groups’ judicial review challenge of the government’s strategy to reduce greenhouse gas emissions.
07/21/2022
Case update: Polarcus – a declaratory relief for Cayman Islands official liquidators
The need for a further application provides a useful reminder that all steps necessary to implement a transaction should be carefully considered in order that any necessary ancillary relief can be sought as part of the sanction application.
07/15/2022
To exercise or not: minority shareholders' and directors' right to inspect company books and records | Hong Kong
The Court rejected the application as the plaintiff failed to discharge the burden to the Court’s satisfaction to allow the inspection.
07/15/2022
The price of an interlocutory injunction
At first instance, McMillan J found that the undertaking and therefore, the loss, endured until 25 May 2016 when EFML repaid to Fenris the money it had received pursuant to the order of Foster J, and assessed the loss at €5,354,601.07 plus interest.
07/14/2022
Dechert Represents Hidili
The Hong Kong Scheme was approved by an overwhelming majority of creditors
07/13/2022
Cross-border insolvency - Hong Kong Court confirms common law recognition and assistance does not extend to solvent liquidations
The decision helpfully clarified that (i) the common law power to recognise and assist foreign officeholders does not extend to solvent liquidations and the COMI test has no relevance, and (ii) the conflict of laws principles apply to the solvent liquidat
07/11/2022
Flexibility of injunctions: JSC Commercial Bank v Kolomoisky
The claimant bank had previously obtained an interim freezing injunction over the assets of the defendant
07/11/2022
Recent developments in the law of tracing in the Cayman Islands
Other factors might be the closeness in time between the payments and the fact, if it could be established, that Peter had authorised the payment to Mary.
07/08/2022
If it looks like an Attorney
In a recent judgment the Grand Court of the Cayman Islands confirmed that in-house counsel are “attorneys” under the Grand Court Rules for the purposes of taking steps on behalf of a body corporate
07/06/2022
Russian Sanctions Regime: Court Issues Further Guidance to Legal Practitioners
The court recognised that many law firms have found, and continue to find, themselves in a similar position acting for entities caught by the Sanctions Regime.