In Re China Agrotech Holdings Limited the Cayman Islands Grand Court engaged in some impressive legal gymnastics to reach the right commercial result, granting a (very limited) form of recognition to liquidators appointed by the Hong Kong to a Cayman Islands company. But is it really a "landmark" decision? It seems more accurate to describe it as a highly bespoke solution to a very unusual situation, where there was only one practical way forward, which nobody was opposing. Even leaving aside the correctness of the decision (which was ex parte), we doubt this is a blueprint for future cross-border insolvencies involving Cayman Islands companies.
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