Offshore Investment Fund Disputes Lawyers & Solicitors

Offshore fund disputes

Arising from factors such as trading losses, illiquidity, misevaluation and mismanagement, fund-related disputes are a common feature of the international commercial landscape. Complex by nature, funds experiencing distress require a team of dedicated fund dispute lawyers who are well rehearsed in this specialist area to resolve them.

An offshore fund dispute can often include multiple parties, intricate contractual agreements, intricate financial structures, and regulatory considerations. Navigating through such complexities requires specialised offshore fund disputes knowledge and experience in both investment funds law and dispute resolution.

Fund dispute lawyers

Appleby’s Fund Disputes team is an industry leader, being one of the few offshore firms to field a specialist team dealing with fund disputes, and having been involved in a number of high-profile offshore fund disputes proceedings. Our team of highly skilled and talented fund disputes lawyers have experience that covers all types of funds, including corporate funds, limited partnerships, unit trusts, regulated mutual funds, closed-ended funds and private equity funds.

We act for a wide range of parties involved in fund-related matters, including office-holders, directors, auditors, investment managers, shareholders and creditors.

We regularly provide advice and assistance regarding matters such as:

Redemption issues
Shareholders’ rights

Directors’ liabilities
Enforceability of side letters
Disputes between service providers
Valuation issues
Fraud and mismanagement of fund assets
Restructuring distressed funds
Winding up and dissolution of insolvent funds

Client experience

Representative Work

Advising and representing liquidators

Advising and representing the liquidators in relation to their actions to recover losses for investors who lost US$1.5 billion in the collapse of Bear Stearns subprime-invested hedge fund, the largest and highest-profile hedge fund collapse arising out of the subprime mortgage crisis

Acting for Phoenix Meridian Equity Ltd.

Acting for Phoenix Meridian Equity Ltd. in the first Cayman Islands case on misvaluation to go to trial, raising unprecedented issues about construction of fund investment documentation, and the obligation of funds to disclose underlying hedging transaction costs to investors

Advising Gottex Fund Management Sarl

Advising Gottex Fund Management Sarl on its attempt to redeem a US$40 million investment in CPIM Structured Credit Fund and its challenge through the Cayman Islands Court of the fund’s retrospective imposition of a ‘gate’ on its redemption notice to block the payment of redemption proceeds.

Spotlight

Cayman fund disputes

Our Cayman Islands office provides specialist Cayman fund disputes legal advice. With decades of experience between them, our fund disputes lawyers in Cayman are experts in navigating the complex nature of funds experiencing distress. Indeed, their Cayman fund dispute expertise was highlighted in the latest edition of The Legal 500 Caribbean legal directory, with researchers noting that “Appleby’s ‘excellent strength across the whole team’ ensures that it is sought out by a stellar line-up of international corporate clients for representation in high-stakes fund disputes, winding-up proceedings, and contractual enforcement matters”.

More news

6 Aug 2026

The Rights of Sanctioned Litigants to access to the Court: Court of Appeal issues Key Decision in the BVI

The Eastern Caribbean Court of Appeal has delivered a significant judgment in AO Alfa-Bank v Kipford Ventures Limited, overturning a stay of proceedings and reinstating a US$142 million freezing injunction. The decision provides important guidance on access to justice, sanctions, and interim relief in the BVI.

Andrew Willins, KC, Tamara Cameron

JPLs, Directors and Arbitration: Grand Court Clarifies the Scope of Provisional Liquidators' Powers

5 Aug 2026

Good faith in action, not just belief: the UK Supreme Court’s decision in Saxon Woods Investments Limited v Costa and its significance in the Cayman Islands

May a company director depart from a strategy his board has agreed, in the sincere belief that he knows a better route to the company’s success? In Saxon Woods Investments Limited v Costa [2026] UKSC 21, the Supreme Court held that, whatever the answer, a director cannot pursue his own strategy by concealing it from, and misleading, his fellow directors. The Court confirmed that the good faith duty is not confined to a director’s sincerely held view of the company’s best interests; it also governs the means by which the director acts. The decision is an authoritative statement of the content of the fiduciary duty of loyalty, and is likely to be influential in the Cayman Islands. The decision will interest directors, those who advise or appoint them, and stakeholders affected by directors’ conduct.

Alan Bercow, Daniel Coelho

3 Aug 2026 | News

Appleby Launches Isle of Man Summer Internship Programme 2026

Claire Milne WS

3 Aug 2026 | News

Jon Barclay and Simon Florance join Appleby Guernsey as Dispute Resolution Partners

Jon Barclay, Simon Florance

30 Jul 2026

Contingent Creditors, Standing And The Winding Up Jurisdiction: Analysing Re Petrosaudi International

The Cayman Islands Court of Appeal has delivered a highly significant judgment in Re PetroSaudi International.[1] The Court clarified the circumstances in which an alleged contingent creditor will have standing to petition to wind up a company under section 94(1)(b) of the Companies Act, and confirmed that there is no jurisdiction to make a winding up order on an ex parte without notice basis.[2] Our article analyses the Court of Appeal’s decision, and considers its implications for insolvency practitioners.

Harriet Ter-Berg, William Spence

30 Jul 2026

Final Means Final: Wei v Wang and the Common Law Enforcement of Foreign Judgments in the Cayman Islands

English Court Reaffirms Pro-Enforcement Approach to Foreign Judgments In Wei v Wang [2026] EWHC 1892 (Comm), the Court confirmed that exceptional avenues of review do not undermine the finality of a judgment and reiterated the limited scope of the natural justice defence.

Alan Bercow, Zuhair Farouki

28 Jul 2026

Drelle Overturned in Latest UK Supreme Court Decision

The United Kingdom Supreme Court in its recent decision in Drelle v Servis-Terminal LLC [2026] UKSC 29 (Drelle SC) has overturned the controversial decision of the English Court of Appeal in Servis-Terminal LLC v Drelle [2025] EWCA Civ 62 (Drelle CA), and in doing so has provided welcome clarity on the effect of unrecognised foreign judgments in cross-border bankruptcy and insolvency contexts. This is likely to have a wide-reaching impact – not only in the UK but also offshore – and particularly in the British Virgin Islands following the recent decision in JJW Hotels & Resorts Holding Inc v Rhodes (BVIHCM2025/0296) (JJW Hotels) (which relied heavily on Drelle CA), and in the Cayman Islands where previous authorities had recognised the ability, in the corporate context, for petitioners to present winding up petitions on the basis of an unrecognised foreign judgment.

Daniel Mitchell, Harriet Ter-Berg, Jae Shin

24 Jul 2026

Thalassa Investments LP: Section 22 and Specific Discovery - Strategic Considerations for Limited Partners Seeking Information and Documents

In Thalassa Investments LP [2026] CIGC (FSD) 32, the Grand Court refused an application by limited partner petitioners for specific discovery from the general partner in just and equitable proceedings to wind up a Cayman Islands ELP. The ruling was against the backdrop of serious lack of probity allegations made against the general partner by the petitioners. Notwithstanding those allegations, the Grand Court declined to make orders requiring discovery of various categories of documents to be used at trial. The ruling brings into focus the multiple routes potentially open to limited partners seeking information and/or documents from an ELP where there are allegations of mismanagement by the general partner. The limited partner may issue substantive proceedings (or, as in this case, present a just and equitable winding up petition) against the general partner and partnership, and then obtain documents through the usual discovery process. Alternatively, the limited partner may pursue its substantive right to true and full information under section 22 of the Exempted Limited Partnership Act first in order to help inform the bringing of a substantive claim, as was the approach in the Neoma (Abraaj) and the Port Fund litigation. Thalassa illustrates that the nature of the information sought, who holds it, and the legal basis on which disclosure is sought are all highly relevant to the outcome. The decision also highlights that section 22 and discovery serve different purposes, are governed by different legal tests and can produce different outcomes. The strategic question is not whether section 22 or the discovery process may be preferable in the abstract, but which legal framework best aligns with the limited partner’s objectives and the nature of the information sought.