Offshore Litigation Blog

In a recent decision of In the matter of TROOPS Inc, the Grand Court declined to appoint joint provisional liquidators (JPLs) on an ex parte basis over TROOPS Inc. (the Company). The ruling provides a useful reminder of the Court’s “especially cautious” approach to pressing the “nuclear button” of appointing JPLs, especially when that appointment is sought on an ex parte without notice basis.

The Grand Court’s recent decision in Re Superb Summit International Group Ltd [2025] CIGC (FSD) 62 offers a legally straightforward, albeit unusual, illustration of how Cayman Islands restoration and winding-up procedures can be utilised to support foreign regulatory enforcement efforts, particularly where cross-border fraud is alleged and local recovery action is essential.

In Target Global Growth Fund II v Liu Xun, the Grand Court of the Cayman Islands granted the Plaintiffs’ application for a worldwide freezing injunction against the Defendant’s assets up to a value of US$35 million, as well as a proprietary injunction targeting specific assets.

In the course of complex contested succession proceedings in the case of ATH v BNU, Justice Mithani gave an (anonymised) judgment dated 10 July 2025 in the BVI High Court. This is an important judgment of particular significance to practitioners dealing with estates pending a full grant of administration.

In Stevens v Hotel Portfolio II UK Ltd (HPII), a judgment handed down by the Supreme Court on 23 July 2025, Lord Briggs gave the leading judgment (with only Lord Burrows dissenting), providing a clear statement of the law on compensation for breach of constructive trust by a trustee and a dishonest assistant.

In Commercial Bank of Dubai PSC v Al Sari, the English Commercial Court granted a declaration sought by the Bank that a United Arab Emirates Court judgment in favour of the defendants was obtained by fraud. The decision also clarifies that the rule in House of Spring Gardens v Waite (No 2) does not apply to enforcement proceedings, such that a party is not precluded from re-litigating the issue of fraud in a domestic court where the same issue had been dismissed in the foreign court.

In Jardine Strategic Limited v Oasis Investments II Master Fund Ltd the Privy Council (on appeal from the Court of Appeal for Bermuda) held that shareholders who acquired their shares after the date of notice of the meeting at which a proposed amalgamation would be voted on, and with knowledge that the proposed amalgamation would be approved and implemented, had standing to pursue fair value appraisal proceedings under section 106 of the Companies Act 1981 of Bermuda.

In the recent English case of Waypark Commercial Mortgage Ltd v Vanguard Number 1 Ltd (In Liquidation), the Court had to consider whether the sale of property by a secured creditor of a company in liquidation was impacted by the automatic stay imposed by section 130(2) of the English Insolvency Act, 1986.

The Grand Court of the Cayman Islands has consistently favoured providing assistance to foreign courts to the fullest extent possible. This has again been demonstrated in the recent decision in Shen v Inspire Inc (No 2).

This article examines how the ‘immovables rule’ intersects with the practice of modern cross-border insolvency under English common law.

The Gerald Metals Group was awarded an unprecedented $2.5 million fine against its former joint venture partner China National Gold Group Hong Kong Limited (CNG) for its significant and persistent non-compliance with court orders in the BVI.

Over the past decade, the Hong Kong courts have given multiple important judgments concerning their power to wind up foreign companies. In a recent judgment, the Court of Appeal provided important clarification regarding a key element of this power.