ARTICLE
29 July 2019

Respecting Stakeholder Wishes

W
Walkers

Contributor

Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
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.
Cayman Islands Corporate/Commercial Law

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).

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