Fighting back: the role of receivership applications

Author: | Published: 11 Dec 2018

Receivership is an important weapon in the arsenal of any commercial litigator

The body of reported case law regarding receivership appointments in the Cayman Islands is relatively small, probably because many disputes in Cayman are resolved by winding up petition rather than writ action, and the winding up regime has its own provisions for protection of assets, including the ability to appoint provisional liquidators to prevent the dissipation of assets prior to the hearing of the winding up petition. Similarly, if judgment is obtained against a Cayman company and remains unpaid, a winding-up order is available as of right and, rather than appointing receivers, the more common course for the judgment creditor will be to seek to have the debtor wound up....