The Cayman Islands is one of the foremost offshore financial centers and a control node of contemporary global finance. As sovereign territory of the United Kingdom, the Cayman Islands attracts multinational corporations, investors, and professional services firms. As result, the courts oversee a large amount of corporate insolvency and reorganizations. Diamond McCarthy is a go-to firm for the Cayman Island Joint Official Liquidators and others given our strong background in cross-border insolvency and financial distressed related litigation.
We are often trusted in high-profile disputes where we are involved in pursuing claims and recoveries for fraud, breach of fiduciary duty, professional liability, D&O liability, and fraudulent transfers with significant dollars at stake.
**Diamond McCarthy lawyers are licensed to practice law in US jurisdictions and courts and some international jurisdictions (as indicated on the bio for each individual). Otherwise, we draw on our network of lawyers that are licensed locally in each respective matter.**
Significant Representative Experience
- Acting as international counsel for U.S. SEC Receiver and Cayman Islands Liquidator in connection with cross-border frauds related to Direct Lending, Inc. Commenced litigation in California and the Cayman Islands against institutional valuation firm; ongoing investigations against international professional firms, lenders, and others.
- Acting as lead trial counsel to the court appointed Join Official Liquidators in the Cayman Islands in connection with a billion-dollar hedge fund fraud. Ongoing cross-border litigation proceedings in the United States and the Cayman Islands against dozens of professional service firms and institutions (e.g., law, accounting, and valuation firms; financial related institutions; insurers)
- Acted as lead and coordinating counsel on behalf of a major Energy Corporation in cross-border litigation in the U.S., Trinidad & Tobago, and the BVI against various defendants in connection with a $30+ million-dollar judgement by a Texas court. Brought liquidation proceedings in Trinidad and Tobago and BVI and international enforcement proceedings in NYC in connection under 28 U.S.C. Section 1782. Favorable results achieved
- Acted as lead trial counsel to the Cayman Island court-appointed liquidators for two former Cayman Island based companies related to the former Italian international food and dairy conglomerate, Parmalat, in connection with their multibillion-dollar claims against financial institutions and professional service firms in a global MDL proceedings in NYC along with related proceedings in the courts of Grand Cayman, Malta, and other countries. Diamond McCarthy was the only law firm to go to trial in the MDL proceedings in the S.D.N.Y, and argued before the U.S. Court of Appeals for both the 2nd Circuit and 7th Circuit
- Served as lead trial counsel for more than 1,000 Latin American investors in connection with claims for accounting and legal professional liability, officer and director liability and financial institution tort liability of more than $350 million in damages arising out of the InverWorld, Inc. bankruptcies in the courts of San Antonio, Texas, the Grand Cayman Islands and the United Kingdom. Substantial recoveries were achieved.