Ogier is pleased to partner with STEP Cayman to deliver a seminar to members on topical issues relating to latest developments on the scope and meaning of Cayman firewall legislation and forum for administration clauses.
Rachael and Deborah will discuss the recent judgment in the case of Geneva Trust Company v IDF and MF or Re Stingray Trust, which is the latest in a line of decisions of the Cayman Islands courts considering the meaning and scope of the Cayman firewall provisions and the effect of forum for administration clauses.
The Grand Court has now provided important clarification about the effect of Section 90 of the Trusts Act 2020 - that it does not operate to bestow exclusive jurisdiction on the Cayman Islands courts (as previous cases have suggested) and that common law principles of forum non conveniens still have relevance and application in the context of disputes concerning Cayman Islands trusts. The speakers will also discuss further guidance which the Court provided on the application of forum for administration clauses in Cayman trusts.
The session will also look at some practical tips for trustees when faced with being joined to proceedings in foreign courts, and what assistance may be available from the Cayman courts in such circumstances.
The seminar will be followed by networking drinks.
If you would like to discuss contentious trust matters or, would like to connect with our team at the event, please reach out via the contact details provided here.