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Cayman Derivative Cases Brought Overseas Still Face Hurdles

Law360 (September 13, 2018, 2:45 PM EDT) -- Two recent court decisions, one in New York and one in the Cayman Islands, provide guidance on bringing shareholder derivative claims on behalf of a Cayman company in a court outside the Cayman Islands (whether in New York or elsewhere). Both cases involved Cayman Islands companies operating in the U.S. Until these decisions, the rule (in New York at least) had been thought to be that to maintain a derivative claim overseas, the shareholder must obtain permission from a Cayman court. In November 2017, the New...
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