Cayman Islands Court of Appeal, Unreported judgment given 9 September 2009.

As a matter of English and Cayman law, does the court have jurisdiction to appoint a receiver, at the behest of a judgement creditor, by way of equitable execution over a settlor’s power of revocation of a trust?

Facts

A Cuyahoga County, Ohio trial court did not abuse its discretion when it appointed a receiver for a “defunct” foreign corporation that the trial court found “persists for the purpose of winding up its affairs in Ohio.”In re: All Cases against Sager Corporation (2010), 188 Ohio App 3d 796, appeal accepted for review (2011), 127 Ohio St. 3d 1503. The Court of Appeals found it undisputed that corporate assets existed after the foreign corporation had been dissolved, “and that these assets may afford insurance coverage to Ohioans injured by exposure to Sager’s products”.

Bottom Line:

The United States Bankruptcy Court for the District of South Carolina in In re Barnwell County Hospital, No. 11-06207 (Bankr. D.S.C. Oct. 27, 2011) held that anad hoc community group of citizens formed for the purpose of attempting to keep the Barnwell County hospital open and operating in its current location (the “Community Group”) was not a party-in-interest in the hospital’s bankruptcy case and so lacked standing to challenge the debtor’s eligibility for relief under chapter 9 of the Bankruptcy Code.

Cayman Islands Court of Appeal, Unreported judgment given 9 September 2009.

As a matter of English and Cayman law, does the court have jurisdiction to appoint a receiver, at the behest of a judgement creditor, by way of equitable execution over a settlor’s power of revocation of a trust?

Facts