No Claim, No Injunction: What Does a Limited Partner Actually Own?
What equitable proprietary interest, if any, does a limited partner hold in the assets of a Cayman Islands exempted limited partnership, and is that interest is sufficient to ground a proprietary injunction? These questions lie at the heart of Parker J’s recent judgment in the matter of Charitable DAF HoldCo, Ltd (in Official Liquidation), in which the Grand Court refused proprietary injunctive relief sought by joint official liquidators against former directors and associated entities. The judgment holds that the Company, as a limited partner in a Cayman ELP, had no equitable proprietary interest in the Fund’s underlying assets of the quality required to found the relief sought. While the court did not exclude the possibility of an LP having proprietary rights in an ELP’s assets, it held that on the particular facts of the case such rights were excluded.
The Global sees us share updates and insights from across our network of international offices on the latest legislative news, trends or developments impacting the corporate sector.
Q1’26 Suggests Cat Bond Issuance Could Reach $20bn Again, Private ILS & Sidecar Surge to Continue
It’s been an exceptionally busy start to the year for the catastrophe bond sector, with Q1’26 officially becoming the second highest Q1 on record in terms of total catastrophe bond issuance, which indicates that 2026 could end up reaching the $20 billion+ milestone once again, Brad Adderley, Managing Partner at law firm Appleby has said.
The X Trusts Decision – a Cayman Islands’ perspective
Appleby's Cayman Islands Trusts team takes a look at the X Trusts decision, confirming a wider role for trust protectors.
Find out more about how the statutory corporate administration regime offers a significant evolution in the Island’s restructuring toolkit, creating a court‑supervised rescue process for distressed but potentially viable companies.
The Regulation of Cayman Islands Tokenised Funds – Clear Rules Now in Place
On 5 March 2026 the Virtual Asset (Service Providers) (Amendment Bill), 2026, the Mutual Funds (Amendment) Bill, 2026 and the Private Funds (Amendment) Bill, 2026 were passed by the Parliament of the Cayman Islands with unanimous support, providing welcome clarity that Cayman Islands tokenised funds are regulated within Cayman’s existing Mutual Funds Act (MFA) and Private Funds Act (PFA) framework and do not fall within the scope of the Virtual Asset (Service Providers) Act (VASPA).
Privy Council decision in X Trusts – redefining the role of the protector
On 19 March 2026, the Judicial Committee of the Privy Council (JCPC) delivered its long-awaited judgment regarding the role of a fiduciary protector in the administration of a trust (A and 6 others (Appellants) v C and 13 others (Respondents) [2026] UKPC 11, on appeal from the Court of Appeal of Bermuda). The decision of the JCPC was unanimous, with the judgment being given by Lords Briggs and Richards.
Latin American risks and the Bermuda market
Bermuda’s decades-long efforts to welcome Latin American risks to the island’s re/insurance market have borne fruit in the form of the many LatAm captive insurers that have become domiciled here.
Seychelles Corporate Governance: The New Landscape for 2026
The Seychelles Financial Services Authority (FSA) has fundamentally changed the corporate governance expectations for regulated entities. The new Code of Corporate Governance, effective from 1 January 2026, represents a significant shift in regulatory philosophy and should be taken seriously by anyone operating in the jurisdiction.
Navigating Bermuda’s New Recovery Planning Requirements: A Roadmap for Commercial Insurers
On 20 March 2026, the Bermuda Monetary Authority (BMA) issued an updated Guidance Note for Recovery Planning Requirements (Guidance Note). The Guidance Note assists Bermuda commercial insurers’ compliance with the obligations set out in the Insurance (Prudential Standards) (Recovery Plan) Rules 2024 (Rules), which became operative on 1 May 2025.
Trusts (Jersey) Amendment Law 2026
Find out more about the Trusts (Jersey) Amendment Law 2026 which came into force on 20 March 2026 (Trusts Amendment).
