Cross Border Comity in the Cayman Islands: The Picard v Primeo Decision

16 September 2014

This article first appeared in Volume 11, Issue 5 of International Corporate Rescue, published by Chase Cambria Publishing.

Aristos Galatopoulos and Caroline Moran review the decision handed down on 16 April 2014 by the Cayman Islands Court of Appeal in Irving H Picard and Bernard L Madoff Investment Securities LLC v Primeo Fund.  As can be seen from this decision, the Cayman Islands courts are keen to promote comity in cross border insolvency proceedings regardless of whether the company in question is incorporated in the Cayman Islands or otherwise.

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