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Privy Council reinstates first instance decision of the Grand Court in a seminal decision for appraisal litigation in the Cayman Islands
In Maso Capital Investments Ltd v Trina Solar Ltd the Privy Council reinstated the first instance decision of the Grand Court, confirming that the task for the trial judge in an assessment of fair value pursuant to section 238 of the Companies Act (as revised) is highly fact specific and will depend on the relative reliability of the valuation methodologies contended for. The Privy Council also reiterated that the principles to be applied by an appellate court to findings of fact or evaluative assessments of a lower court are restrictive and designed to be so. The petition of the Appellant…
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