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Uphold upheld: Winding-up petition dismissed despite governance failures Background The issues The judgment Key takeaways/comment
On 24 March 2026, Justice Segal handed down his long-awaited trial judgment in Laggner v Uphold, dismissing a petition to wind up a Cayman Islands digital money platform on just and equitable grounds. The Petition was filed on 14 June 2022. In the four years since, the matter has been before the Court on three interlocutory occasions, proceeded to a three-week trial, and culminated in a 349-page ruling. It is one of the most substantial contested winding-up petitions to have reached a full trial in the Cayman Islands. The trial judgment is, subject to any appeal, a conclusive determination of…
The skinny
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