In a reasoned ruling dated 30 September 2019 in the matter of Saad Investments Company Limited (in official liquidation) (FSD 15 of 2010 (ASCJ)) the Chief Justice of the Grand Court of the Cayman Islands, Hon. Anthony Smellie QC has provided some welcome guidance concerning the basis on which sanction might be granted to liquidators to compromise a creditor claim when faced with a competing proprietary claim over the same assets.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.