'Rainy Sky' Observed In The Cayman Islands

Law360, New York (April 17, 2012, 7:03 PM EDT) -- Mr Justice Foster in the Financial Services Division of the Grand Court of the Cayman Islands recently handed down a judgment in favor of an English investment company, Ennismore Fund Management Limited, which authoritatively states the manner in which the court will deal with two conflicting interpretations of a written commercial contract.

The decision was the first in the jurisdiction to apply the recent United Kingdom Supreme Court decision of Rainy Sky SA v. Kookmin Bank [2011] UKSC 50. (Ennismore Fund Management Limited v Fenris Consulting...
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