Cayman Islands Companies Law Section 238 Valuations

Section 238 of the Cayman Islands Companies Law specifies that minority shareholders should have a right to have a court decide the value of their shares if they fail to consent to a merger. The Cayman courts have stressed the importance of holding these shareholders to strict discovery obligations. Companies registered in the Cayman Islands will often engage litigation support services vendors in order to assist them to meet their obligations under the law of the Cayman Islands.