Re Hadar Fund Ltd
| Jurisdiction | Cayman Islands |
| Judge | (Jones, J.) |
| Judgment Date | 13 August 2013 |
| Court | Grand Court (Cayman Islands) |
| Date | 13 August 2013 |
(Jones, J.)
Attorneys: Walkers for the petitioners; Harneys, Westwood & Riegels for the objectors; Mourant Ozannes for a former director; Campbells for the former investment manager.
Companies-liquidators-appointment-independence
The independence of insolvency practitioners from any particular company, as required by the Insolvency Practitioners” Regulations 2008, reg. 6(1) depends upon the existence (or non-existence) of professional or economic relations with that company which, in the opinion of the court, precludes the appearance of complete impartiality. It is not sufficient that the practitioners be honest and capable.
When determining whether a particular professional or economic relationship leads to a conclusion about whether an insolvency practitioner can be properly regarded as independent, the court must identify the relationship and determine whether it is capable...
To continue reading
Request your trial
-
Re Opus Offshore Ltd
...J warned against the possibility that a liquidator might have unconscious bias. 72 In Re Hadar Fund Ltd (in voluntary liquidation) [ 2013 (2) CILR Note 4] in the Grand Court of the Cayman Islands, Jones J expatiated upon the factors which the Court will take into account when considering th......
-
The Companies Act (2021 Revision) Global Fidelity Bank, Ltd (in Voluntary Liquidation)
...6 of the Insolvency Practitioners' Regulations 2018 not to appoint them as JOLs (Jones J in Re Hadar Fund (in voluntary liquidation) 2013 (2) CILR Note 4; 13 August 2013 at paragraph 21); and (12) the fact that the Petitioners have undertaken work to date does not justify their appointment ......
-
Re Opus Offshore Ltd
...LtdBDLR [2001] Bda LR 31 Re West Australian Gem Explorers Pty Ltd (1994) 13 ACSR 104 Re Hadar Fund Ltd (in voluntary liquidation) [2013] (2) CILR Note 4 Re UP Energy Development Group LtdBDLR [2016] Bda LR 94 Re Palmer Marine Surveys LtdUNK [1986] BCLC 106 Re Southard & Co LtdWLR [1979] 1 W......