Privy Council Confirms Cayman Islands Law on Suspensions and Redemptions

15 December 2010

The Privy Council has just delivered its judgment in the Strategic Turnaround appeal which clarifies a number of important points in respect of suspensions and redemptions by Cayman Islands investment funds. The decision makes clear that powers of suspensions and redemptions and the status of a redeeming but unpaid investor is a matter of interpretation of the fund's articles of association and, where relevant, its offering documents.

Please see the attached for further information.

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