Privy Council overturns Cayman clawback decisions in landmark ruling
George Town, Grand Cayman (Credit: iStock.com/virsuziglis)
In a landmark ruling, the joint liquidators of an insolvent Cayman Islands investment company have successfully argued before the UK Privy Council that redemption payments made to investors in 2009 were illegal, which may allow them to bring clawback claims by using the law on constructive trusts.
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