Offshore Litigation

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Offshore Litigation

The Offshore Litigation Blog is where you will find recent case updates, offshore litigation news, offshore filings lists, interviews and even some insights into island life, written by Harneys litigators from around the world.

Contributors

Jonathan Addo
Jonathan Addo
  • Jonathan Addo

  • Partner
  • British Virgin Islands
Jeremy Child
Jeremy Child
  • Jeremy Child

  • Partner
  • London
Julie Engwirda
Julie Engwirda
  • Julie Engwirda

  • Partner
  • Hong Kong
Peter Ferrer
Peter Ferrer
  • Peter Ferrer

  • Partner
  • British Virgin Islands
Claire Goldstein
Claire Goldstein
  • Claire Goldstein

  • Partner
  • British Virgin Islands
Hazel-Ann Hannaway
Hazel-Ann Hannaway
  • Hazel-Ann Hannaway

  • Partner
  • British Virgin Islands
Nick Hoffman
Nick Hoffman
  • Nick Hoffman

  • Partner
  • Cayman Islands
Andrew Johnstone
Andrew Johnstone
  • Andrew Johnstone

  • Partner
  • Hong Kong
Paula Kay
Paula Kay
  • Paula Kay

  • Partner
  • Hong Kong
Phillip Kite
Phillip Kite
  • Phillip Kite

  • Partner
  • London
Vicky Lord
Vicky Lord
  • Vicky Lord

  • Partner
  • Shanghai
Paul Madden
Paul Madden
  • Paul Madden

  • Partner
  • Cayman Islands
Henry Mander
Henry Mander
  • Henry Mander

  • Partner
  • Cayman Islands
Ian Mann
Ian Mann
  • Ian Mann

  • Partner
  • Hong Kong
William Peake
William Peake
  • William Peake

  • Partner
  • London
Lorinda Peasland
Lorinda Peasland
  • Lorinda Peasland

  • Consultant
  • Hong Kong
Chai Ridgers
Chai Ridgers
  • Chai Ridgers

  • Partner
  • Hong Kong
Nicola Roberts
Nicola Roberts
  • Nicola Roberts

  • Partner
  • Hong Kong
Paul Smith
Paul Smith
  • Paul Smith

  • Partner
  • Cayman Islands
Andrew Thorp
Andrew Thorp
  • Andrew Thorp

  • Partner
  • British Virgin Islands
Jessica Williams
Jessica Williams
  • Jessica Williams

  • Partner
  • Cayman Islands
Jayson Wood
Jayson Wood
  • Jayson Wood

  • Partner
  • Cayman Islands

A foreign helping hand: US and Hong Kong discovery in support of Cayman Islands litigation

In Cayman Islands Section 238 litigation – disputes as to the fair value of shares held by shareholders of a company that has been privatised – dissenting shareholders are turning to foreign courts to obtain parallel discovery in support of their claims. In two recent decisions, dissenters have relied on US Section 1782 discovery and letters of request to the Hong Kong Court to seek additional documents in those proceedings.

Ian Mann, James Granby,
Andrew Johnstone, Jessica Williams,
Julie Engwirda, Paula Kay,
Vicky Lord, Phillip Kite

Cayman Islands Grand Court releases important decision on costs and fair interest in s238 proceedings: In re Qunar

Petitions filed under Section 238 of the Cayman Islands Companies Act are ultimately concerned with one thing: the fair value of shares held by shareholders who have dissented from a merger or consolidation and therefore rejected the price offered to them for their shares. The company subject to the merger contends for a lower valuation; the dissenting shareholder contends for a higher valuation; expert valuation evidence is adduced; the Court, with the assistance of the experts, arrives at a fair value figure.

James Eggleton, Jessica Williams,
Paul Madden, Julie Engwirda,
Paula Kay, James Granby,
Jeremy Child, Francesca Gibbons

Dissenters from short form mergers are entitled to fair value appraisal of shares

In the recent decision in the matter of Changyou.com Limited, the Grand Court of the Cayman Islands has resolved the question of whether shareholders who dissent from a “short form” merger are entitled to the same fair value appraisal rights under section 238 of the Companies Act as shareholders who dissent from ordinary mergers.

Ian Mann, Paula Kay,
Paul Madden, Lachlan Greig,
Jeremy Child, Jessica Williams,
Julie Engwirda, Nicola Roberts

Court prefers company valuation in Chinese take-private litigation

The Cayman Court has delivered judgment in Trina Solar Limited. This is likely to be the first case under section 238 of the Companies Law in which fair value is determined to be below the merger price. This is a significant win for Trina and will have a big impact on future s238 cases.

Natalie Lee, Vicky Lord,
Ian Mann, Paula Kay,
Nick Hoffman, Katie Pearson

“The truth is seldom pure, and never simple.” (Oscar Wilde) - Fair value determinations under section 238 of the Companies Law: In re Nord Anglia Education

The Grand Court has handed down its decision in yet another important case concerning share appraisal rights under section 238 of the Cayman Islands Companies Law. The extensive and wide ranging judgment, the first following the Privy Council’s recent decision in Shanda Games, is notable for its analysis of how the general legal principles governing the Court’s jurisdiction to determine the fair value of shares ought to be applied.

James Eggleton, Nick Hoffman,
Paula Kay, Paul Madden

Grand Court not driven to change direction in Ehi Car Services Limited

On 24 February 2020, the Grand Court of the Cayman Islands (the Court) delivered judgment for a contested directions hearing on In the Matter of Ehi Car Services Limited (unreported, 20 January 2020). It is not the first time that directions have been contested against a landscape of evolving section 238 litigation where Judges have been asked to resolve issues regarding the development of its procedural regime.

Paula Kay, William Peake,
Natalie Lee, Nick Hoffman

Victory for Shanda Games in Privy Council minority discount appeal

The Privy Council has today handed down the eagerly awaited judgment in the Maso & Blackwell v Shanda Games appeals. In a judgment delivered by Lady Arden, the Board has unanimously held that a minority discount is to be applied to the fair value determination of the dissenters’ shares in this case under section 238 of the Cayman Islands Companies Law.

Ian Mann, Paul Madden,
Anya Park, Phillip Kite