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Because of its seat within a leading offshore financial centre, the Cayman Islands judiciary is often called upon to determine actions involving substantial assets, multi-faceted structures, and complex legal issues. Following the recent global financial crisis and resulting economic downturn, litigation of this nature has only increased. The judiciary is cognizant of the fact that, if Cayman is to remain a competitive offshore jurisdiction, the local courts must be able to deal with these actions as efficiently and promptly as possible.
With this in mind, work has now been ongoing for a number of years to reorganize the Grand Court, first established in 1877, into various new Divisional Courts. The newest division to be created is the Financial Services Division (“the FSD”) which began operations in November 2009.
This article explores the establishment of the Grand Court of the Cayman Islands’ new FSD, please click the link below to read more.
To continue reading full articles in PDF format:
Divide and Conquer: A New Chapter in the History of the Cayman Islands Judicial System