This Memorandum provides a summary of duties and liabilities of directors of companies incorporated under the laws of the Cayman Islands. It is not intended to be an exhaustive statement of the law in this area but merely to be of some guidance to persons who act as directors of such companies. Particular circumstances or transactions should be the subject of specific legal advice given on the relevant facts at the relevant time.
Companies formed in the Cayman Islands and the duties and liabilities of their directors (both executive and non-executive) are governed by the Companies Law (2016 Revision) of the Cayman Islands (the "Companies Law") and the common law so far as it has not been amended by statutory provisions. The Cayman Islands' courts would regard as highly persuasive the decisions of the English courts in relation to such matters.
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.