Section 238 Shareholder Appraisal Rights

Our appraisal rights specialists in the Cayman Islands, Asia and Europe collaborate across time zones to advise on all aspects of section 238 fair value proceedings.

Section 238 of the Cayman Islands Companies Act gives shareholders a statutory right to dissent from the merger of a Cayman Islands incorporated company, and to be paid a judicially determined fair value for their shares instead of the merger consideration being offered by the merging company. 

Our cross-border team advise and act on every aspect of fair value appraisal proceedings, from the pre-merger stage all the way through to trial and any appeals. Our team has acted on mandates from dissenting shareholders, companies and financing parties and is acutely familiar with every aspect of appraisal disputes.

We work closely with leading onshore counsel and have strong relationships with top-tier practitioners and academic experts in all fields of valuation, including market efficiency and deal process. We assist clients throughout the world in their own time zones and our team speak fluent English, Mandarin and Cantonese to best service our clients in their native languages.

Services

Our services include:

  • Providing pre-merger advice on all aspects of the statutory appraisal process
  • Serving notices of objection, authorisation and dissent
  • Commencing appraisal proceedings
  • Negotiating interim payment and ancillary court applications
  • Obtaining pre-trial directions
  • Facilitating all aspects of the discovery process
  • Requesting information from management
  • Seeking disclosure against third parties in the US, Hong Kong and elsewhere
  • Selecting experts and collaborating on valuation reports
  • Advocacy and court representation
  • Appeals