Cayman Islands:
Liquidators Granted Sanction To Settle Creditor Claim Despite Competing Existing Proprietary Claim
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In a reasoned ruling dated 30 September 2019 in the matter of
Saad Investments Company Limited (in official liquidation) (FSD 15
of 2010 (ASCJ)) the Chief Justice of the Grand Court of the Cayman
Islands, Hon. Anthony Smellie QC has provided some welcome guidance
concerning the basis on which sanction might be granted to
liquidators to compromise a creditor claim when faced with a
competing proprietary claim over the same assets.
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