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....