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Marc Kish
Partner | Legal
Cayman Islands
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Marc Kish
Partner
Cayman Islands
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On Friday, 12 December 2014, the Grand Court (Amendment) Rules 2014 (the “Amendment Rules”) were published with Extraordinary Gazette 94 of 2014 and came into immediate effect. The Amendment Rules are the final step in the recent suite of revisions to the Grand Court Law and the Grand Court Rules which give the Grand Court power to grant interim relief in the absence of substantive proceedings in the Cayman Islands, and follow the publication of the Grand Court (Amendment) Bill, 2014 in June 2014, the Grand Court (Amendment) Law, 2014 in October 2014 and the Grand Court Amendment Law, 2014 (Commencement) Order, 2014 in November 2014. A copy of our briefing on the Grand Court (Amendment) Bill, 2014, which sets out the background to and rationale for the amendments can be found.
The Amendment Rules replace Order 11 of the Grand Court Rules with a new version which contains three changes:
1. First, the proviso in Order 11, rule 1(1)(b) has been deleted, so a litigant can now obtain leave to serve a writ out of the jurisdiction of the Cayman Islands in cases where ‘an injunction is sought ordering the defendant to do or refrain from doing anything within the jurisdiction…’. Previously rule 1(1)(b) stated that ‘a claim for an interlocutory injunction shall not of itself be a sufficient ground for service of a writ out of the jurisdiction’, which, following the decision in VTB Capital v Malofeev [2012 (1) CILR 7], precluded the Grand Court from granting a litigant leave to serve a wit out of the jurisdiction when the relief sought was the injunction itself and there was no substantive cause of action in Cayman (a 'free standing Mareva injunction');
2. Secondly, a new rule 1(1)(n) has been added to Order 11, to expressly give the Court power to grant leave to serve a writ out of the jurisdiction when ‘the claim is brought for any relief or remedy pursuant to section 11A of the Grand Court Law’. Section 11A was added to the Grand Court Law by the Grand Court (Amendment) Law, 2014 which was published in October 2014 and came into effect on 24 November 2014, and a summary of that new section is contained in our briefing on the Grand Court (Amendment) Bill, 2014 (see the above link); and
3. Thirdly, Order 11, rule 1(2) has been amended to expressly provide that leave to serve a writ out of the jurisdiction is not necessary if every claim made in the action is made pursuant to sections 48, 63, 64, 67, 68, 72, 103 or 104 of the Trusts Law (2011 Revision), whereas the previous version of that rule only referred to applications made pursuant to section 48 of the Trusts Law. This now means that it is not necessary to make an application for leave to serve out in relation to applications for:
The ability to apply for a free standing Mareva injunction in the Cayman Islands is a welcome development, and is likely to prove to be an invaluable tool for parties to litigation in foreign jurisdictions who wish to secure Cayman Islands assets pending the determination of those foreign proceedings.
If you have any questions please contact Rachael Reynolds in our Cayman office or Oliver Payne in our Hong Kong office.
Marc Kish
Partner | Legal
Cayman Islands
Marc Kish
Partner
Cayman Islands
Rachael Reynolds KC
Global Senior Partner | Legal
Cayman Islands
Rachael Reynolds KC
Global Senior Partner
Cayman Islands
Oliver Payne 彭奥礼
Partner 合伙人 | Legal
Hong Kong
Oliver Payne 彭奥礼
Partner 合伙人
Hong Kong
Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.
This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.
Regulatory information can be found under Legal Notice
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