Latest / Exploring Offshore Litigation
At your own risk: the Grand Court reaffirms the costs consequences of winding-up petitions on disputed debts Point 1: Costs follow the event Point 2: Foreign lawyers' fees, a point of general application Point 3: Interest on costs Comment
The recent judgment in China Export & Credit Insurance Corporation v Hyalroute Communication Group Limited (No.3) sets out the costs consequences of a dismissed winding-up petition based on a bona fide dispute. It also clarifies the scope of GCR O62, r18, which governs recovery of foreign lawyers' fees, a point Justice Asif described as "of general application within the Cayman Islands".
China Export & Credit Insurance Corporation (the Petitioner) petitioned to wind up Hyalroute Communication Group Limited (the Respondent) to recover approximately US$26 million. The Petitioner claimed to be…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.