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Offshore Cases

Aramid Entertainment Fund Limited -v- KBC Investments V Limited,, per Chadwick J.A. Campbell J.A. Martin J.A. (5 May 2014)

May 2014 LiquidationWinding UpInsolvency

CAYMAN ISLANDS

COURT OF APPEAL

WASTED COSTS – WITHDRAWAL OF WINDING UP PETITION

This was a successful appeal from a judgment digested in the Conyers’ Offshore Case Digest Issue No. 6 and concerns liability for costs on the withdrawal of a creditor’s winding up petition. At first instance the judge had not ordered costs against the petitioning creditor and held that the Court has a broad discretion to depart from the usual rule that a petitioner of an unsuccessful winding up petition should pay the costs of that failure. The Judge found that the appropriate question for the Court to consider in those circumstances was whether the presentation of the petition was reasonable.

 

To continue reading full articles in PDF format:
Aramid Entertainment Fund Limited -v- KBC Investments V Limited,, per Chadwick J.A. Campbell J.A. Martin J.A. (5 May 2014)

 

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