Commencing proceedings against a Cayman company in liquidation: having a case worth entertaining
Introduction The Grand Court recently considered the statutory moratorium against commencing proceedings against a Cayman company which has been placed into liquidation. In BDO Cayman Ltd v Ardent Harmony Fund Inc (in Official Liquidation),(1) the Grand Court held that a plaintiff which launches originating proceedings against a company in liquidation, seeking adverse orders against that company, "patently requires leave" of the court to bring the proceedings. The Grand Court also held that the plaintiffs in that case did not have "a case worth entertaining" in respect of either basis on whi...
Source: internationallawoffice.com