The Financial Services Division (FSD) of the Grand Court delivered its inaugural ruling interpreting Grand Court Rules Order 24, Rule 7A in Tianrui (International) Holding Co Ltd v China Shanshui Cement Group Ltd [2026] CIGC (FSD) 64. Mr Justice Segal granted non-party discovery against four Cayman-domiciled investment funds that received shares under a disputed allotment. The Court held that document-retention duties under Cayman Anti-Money Laundering and Beneficial Ownership Transparency regimes satisfied the "real prospect" standard to compel disclosure of ultimate beneficial ownership records.
- Practice Impact: Investment funds face direct non-party disclosure obligations when holding key evidentiary records surrounding shareholder dilution or unfair prejudice claims.
- Source: Consult Ogier's Order 24 Rule 7A Non-Party Discovery Briefing.
Cayman Islands: Grand Court Applies Order 24 Rule 7A Non-Party Discovery (Tianrui)