Mergers and Securities Disputes

Harneys brings unrivalled expertise from our teams across the Cayman Islands, Asia and Europe on all aspects of litigation arising from companies incorporated in the Cayman Islands’ seeking to avail of the Cayman Islands merger regime. This merger regime provides a mechanism to enable former publically listed companies to “go-private”.

The overwhelming majority of cases that appear in the Courts, following the merger process, involve Cayman companies that have recently de-listed from US-based exchanges and have Chinese-based operations. Harneys is the undoubted market leader in this space, having acted for constituent companies availing of the merger regime, which include representing companies in the two most successful decisions on first instance. Harneys achieved results of a fair value determination at less than the merger price and another determination marginally above merger price. In addition, Harneys has advised investors seeking to assert dissenting shareholder rights and advised special committees appointed to promote and progress the underlining sales process.

Clients include:

  • Qunar Cayman Islands Limited
  • Shanda Games
  • QVT
  • iKang Healthcare
  • Trina Solar
  • KongZhong
  • JA Solar
  • Mindary Medical
  • Homeinns
  • Bona Films

Harneys also provides a sector focused team with significant litigation experience of disputes in the private fund industry. Our team works seamlessly in tandem with the corporate and funds departments with a view to ensuring that our funds clients are equipped with top quality advice to anticipate and to avoid disputes. If a dispute becomes inevitable, our team has the depth of experience and resources to advise clients across a multitude of potential issues. In particular, our dedicated team regularly advise on issues of solvency, redemption requests, net asset value calculations, suspensions, gating provisions and informal restructurings. Given our mix of clients, Harneys has variously represented private funds, hedge funds, independent directors, fund managers and creditors on such issues.

Our Mergers and Securities Disputes Team is led by Paula Kay and Paul Madden.