Vol 22 (2025) - Issue 6

Article preview

Maintaining the Status Quo: How to Ensure Business Continuity when Presented with a Winding Up Petition in the Cayman Islands

Synopsis
A recent judgment of the Grand Court of the Cayman Islands has reiterated the principles that the Cayman Islands Courts will consider in determining whether to grant a validation order in the context of winding up proceedings in the Cayman Islands. This article follows on from Walkers’ previous guidance published in this publication in May 2018,1 by addressing the law as developed by, and following, the Cayman Islands Court of Appeal decision in Tianrui (International) Holding Company Limited v China Shanshui Cement Group Limited [2020] 1 CILR 417, and subsequent instructive authorities. This article provides practical evidentiary considerations and tips for parties that are considering making, or presented with, a validation application.