The Privy Council has clarified that the duty of care to "obtain the best price reasonably obtainable" in the sale of secured collateral does not require a secured party to improve an asset before sale to obtain the best...more
The Case of Changyou.com Ltd v Fourworld Global Opportunities Fund Ltd and 7 others 2025 UKPC 12 - In a judgment handed down on 11 March 2025, the Privy Council has upheld the amendments made to sections 238(2)-(5) of the...more
If the agreement between a creditor and debtor refers disputes to arbitration, what limits should be placed on the creditor to pursue winding-up proceedings based on an unpaid debt under that agreement? Should a court simply...more
There are two approaches for determining whether a decision is final or interlocutory: the "application test" or the "order test". For the purpose of an application for permission to appeal from the Court of Appeal of the...more
The Privy Council has recently upheld a BVI judgment refusing stay of a winding up petition in favour of arbitration. The recent Sian Participation Corp (In Liquidation) v Halimeda International Ltd1 Privy Council decision...more
In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 (“Convoy”), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered a ground-breaking exposition of the law...more
On 20 September 2023, the Privy Council delivered the much-anticipated judgment in FamilyMart China Holding Co Ltd v Ting Chuan (Cayman Islands) Holding Corporation [2023] UKPC 33, on appeal from the Cayman Islands Court of...more
The Court of Appeal has given valuable and clear guidance on the circumstances in which applications during an ongoing liquidation may constitute ‘final decisions’ for the purpose of bringing appeals to His Majesty in Council...more
In Alphamix Ltd v The District Council of Riviére Du Rampart (Mauritius) [2023] UKPC 20, an appeal from the Supreme Court of Mauritius, the UK Privy Council has allowed the appeal and upheld the arbitrator’s award, where the...more
The Quincecare duty has become a popular tool for companies (or their liquidators) to claim against banks for funds misappropriated on wrongful payment instructions. It requires a bank to refrain from executing a payment...more
On 20th December 2022, the Cayman Islands Court of Appeal (“CICA”) delivered its second judgment in the matter of Changyou.com Limited v Fourworld Global Opportunities Fund Ltd & others (“Changyou.com case”). The CICA...more
The Privy Council has handed down judgment on appeal from the British Virgin Islands (the "BVI") in Sancus Financial Holdings Ltd and others (Appellants) v Holm and another (Respondents). This judgment provides important...more
In the recent judgment of Gol Linhas Aereas SA (formerly VRG Linhas Aereas SA) (Respondent) v MatlinPatterson Global Opportunities Partners (Cayman) II LP and others (Appellants) [2022] UKPC 21, the Privy Council upheld the...more
The Judicial Committee of the Privy Council (‘the JCPC’) is the final and highest Court of Appeal for the Cayman Islands, eleven other British Overseas Territories, three Crown Dependencies and nine commonwealth countries...more
In a recent judgment in the case of Re Changyou.com Limited, CICA (Civil) Appeal 6 of 2021, delivered on 16 September 2022, the Cayman Islands Court of Appeal has applied the interpretative provisions of section 25 and...more
On 19 April 2021, the Judicial Committee of the Privy Council (“Privy Council”) rendered its decision in RAV Bahamas and another v Therapy Beach Club Incorporated (Bahamas) on the requirement under Section 90 of the Bahamas...more
Can a breach of one contract give rise to liability for lost profit on a related contract? Or is the loss too "remote"? A Privy Council decision from Monday of this week addressed this issue in the context of a design, build,...more