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【Offshore Companies】CAYMAN ISLANDS: Foreign trust judgments can stand despite 2020 firewall law reform

The Cayman Islands' Grand Court has ruled that the s.90 firewall provisions of the Trusts Act 2020 do not confer exclusive jurisdiction on Cayman Islands courts in disputes concerning trusts in the territory, even though the Act states that all questions regarding a Cayman Islands trust are to be determined under Cayman Islands law 'without reference to the laws of any other jurisdiction'. The effect of the decision in Geneva Trust Company v IDF and MF or Re Stingray Trust, in which the validity of a Cayman Islands trust is being challenged in Italy, is that Cayman Islands courts can still stay proceedings on forum non-conveniens grounds...

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