Recent Judgment of the Cayman Islands Court of Appeal Concerning Validation Orders

In the recent decision of Aurora Funds Management Limited et al -v- Torchlight GP Limited the Cayman Islands Court of Appeal dismissed an appeal brought in respect of an order made by McMillan J in the Grand Court validating certain payments made by Torchlight GP Limited (the “General Partner”) in accordance with Section 99 of the Companies Law. Click here for more