Having seen a surge in dissenting shareholder litigation over the past 18 months, the Grand Court of the Cayman Islands (the “Court”) continues to release considered judgments concerning the operation of the appraisal process set out in Section 238 of the Companies Law (2016 Revision) (the “Law”) that give clear directions as to how such actions should be presented and pursued in this jurisdiction. Following the judgment in Shanda Games and building on the judicial guidance found in the other very recent decisions of the Court summarised in our article here, the judgment of the Honourable Justice Raj Parker in In the matter of Qunar Cayman Islands Limited (unreported, 21 July 2017) ("Qunar") addresses in clear and concise terms the appropriate approach to the directions required in such proceedings which have their own unique features differing from ordinary civil litigation.
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