Cayman Islands:
The China Agrotech Decision - Interesting, But How Significant Is It Really?
04 October 2017
Maples Group
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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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