Vol 15 (2018) - Issue 3

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In the Matter of China Agrotech Holdings Limited

In a landmark post-Rubin v Eurofinance1 ruling, the Grand Court of the Cayman Islands has granted common law recognition and assistance to liquidators appointed by the High Court of Hong Kong over an exempted Cayman Islands incorporated company.
In In the Matter of China Agrotech Holdings Limited,2 following an ex parte application before the Grand Court of the Cayman Islands ('Cayman Court'), Mr Justice Segal handed down a carefully reasoned 58 page judgment on 19 September 2017. The Judgment grants recognition and assistance to liquidators appointed by the High Court of Hong Kong (‘Hong Kong Court’), inter alia, to present a scheme of arrangement under s.86 of the Companies Law (as revised) ('Law') on behalf of the Company.