Indemnities and Releases - Scope and Applicability
A number of issues face liquidators of failed Cayman Islands investment funds who seek to sue the fund's service providers in circumstances where the service providers claim the benefit of contractual indemnities and releases from the fund. The applicability of such protections and the extent to which the service providers can rely on them is a major issue that often needs to be litigated to conclusion before the underlying merits of the claim can be determined. Aristos Galatopoulos and Matthew Crawford discuss two recent decisions of the Grand Court of the Cayman Islands in relation to the appropriate scope of such indemnities and releases.
Please see the attached article for further information. The article was first published in Volume 6, Issue 4 of International Corporate Rescue.