Luxembourg courts hear crash of 'China's LVMH'
Chinese tycoon's €3 billion gamble unwinding in Luxembourg and other venues
Source: luxtimes.lu
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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
Principles To Be Applied By Cayman Court In Granting Leave To Pursue Company In Liquidation - Corporate/Commercial Law
To print this article, all you need is to be registered or login on Mondaq.com. The Grand Court of the Cayman Islands (the " Court") recently handed down a decision in the case of BDO Cayman Ltd. and BDO Trinity Ltd. v Ardent Harmony Fund Inc. (In Official Liquidation). This case provides helpful guidance on the exercise of the Court's discretion to grant leave to commence proceedings against a company in liquidation. Background The plaintiffs, BDO Cayman Ltd. and BDO Trinity Ltd. sought leave from the Grand Court pursuant to section 97(1) of the Companies Act (2020 R...
Source: mondaq.com