Offshore Litigation Blog

In Soriano v Forensic News LLC and Ors the English Court of Appeal has recently clarified the approach of the English courts to an application for an anti-suit injunction restraining a US 1782 application. A 1782 application is an application under Section 1782 of Title 28 of the United States Code by a litigant in non-US proceedings seeking to obtain discovery from a person who resides in the US for use in the non-US proceedings.

The digital assets world has seen a number of collapses of some of the market’s key players. In this post, we examine the fallout of three household crypto names and the legal proceedings that have ensued. The domino effect of one collapse leading to another is no coincidence.

By its recent decision in Sun Vessel Global Limited v (1) HQ Aviation Limited (2) Great Lakes Insurance (UK) SE [BVIHCMAP2022/0017] (9 January 2023) (unreported), the Court of Appeal has reaffirmed the Court’s ability to vary, or even reverse, its decision at any time before an order is perfected (ie sealed). The discretion was originally articulated by the English Court of Appeal in Re Barrell Enterprises [1973] 1 WLR 19 (CA) and has subsequently been referred to as the "Barrell jurisdiction".

In the recent English High Court decision of Perez v Equiom Trust Corporation (UK) Ltd and Equiom Trust (South Dakota) LLC [2022], the claimant revoked an English law governed trust of which the defendants were the trustees, and sought declarations that the revocation was valid, and that the defendants held trust assets on bare trust for the claimant and at her direction.

In the latest decision in the Tulip Trading litigation ([2023] EWCA Civ 83), the English Court of Appeal has held that the question of whether developers of Bitcoin networks owe fiduciary duties to Bitcoin owners is a "serious issue to be tried", leaving the door open for an expansion of the law on fiduciary duties that could trigger a wave of new digital asset claims.

In an important judgment on the recusal of a judge for apparent bias, Justice Doyle of the Grand Court of the Cayman Islands considered the attributes of the ”fair minded informed observer” and discussed the relevant authorities in In the Matter of Principal Investing Funds Ltd, Longview II Ltd and Global Fixed Income Fund Ltd, which reinforce what is known as the “precautionary principle”.

On 25 January 2023, the UK Supreme Court handed down its decision in Barton and others v Morris and another in place of Gwyn Jones (deceased), recounting the key principles that underpin implied terms in contract law and unjust enrichment.

Two recent decisions of Justice Parker provide useful analysis on the exercise by the Grand Court of its discretion to order costs on an indemnity basis.

In a recent case, In the Matter of Energicon Holdings (Caymans) (In Official Liquidation), the Grand Court of the Cayman Islands granted sanction for the sale of company assets and approved remuneration pursuant to an application by the company’s liquidators. In what would usually be a straightforward application, the issue of a sanctioned individual and the fundamental right of access to the Court was explored by Justice Kawaley.