Privy Council backs Cayman pari passu clawbacks in Weavering liquidation
Grand Cayman, the Cayman Islands (Credit: iStock.com/JodiJacobson)
The UK Privy Council has upheld recovery payments secured by liquidators of a Cayman Islands vehicle under the pari passu principle, marking the first successful clawback of shareholder redemption payments in the jurisdiction on the basis of preference.
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