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In the recent case of Vneshprombank v Bedzhamov the English High Court held that when considering whether a payment is in the “proper and ordinary course of business”, once the directors of a company have come to a bona fide decision that expenditure was in the company’s interests, it is not for the Court to second-guess their decision.

In the recent decision of ED&F Man Capital Markets v Come Harvest Holdings the public policy desire to avoid multiple proceedings and inconsistent judgments has carried the day on an application to serve a foreign defendant out of the jurisdiction.

In a recent decision of the Delaware Court of Chancery, which will be of particular interest to parties involved in Cayman Islands ‘section 238’appraisal litigation, Vice Chancellor Joseph Slights dealt strategic investors a significant blow by relying solely on the unaffected trading price to determine fair value. Although it remains to be seen whether the Cayman Islands Courts will adopt a similar approach under section 238 of the Cayman Islands Companies Law, the decision in In re: Appraisal of Jarden Corporation is a particularly stinging loss for appraisal investors.

The obligation for dissenting shareholders to give discovery in section 238 share appraisal litigation in the Cayman Islands was confirmed in the Court of Appeal’s landmark 2018 decision in Re Qunar.

In the recent case of PJSC National Bank v Mints the English High Court found that a six month delay in applying for a worldwide freezing order (WFO) did not mean there was no real risk of dissipation, and the delay was readily understandable given the complexity of the case. The decision will be useful for practitioners in the Cayman Islands given the FSD Judges often draw guidance from English principles when considering applications for injunctive relief.

The recent case of In re China Agrotech Holdings Limited showcases the agility of the Courts in the Cayman Islands and Hong Kong in dealing with restructuring matters.