In Conway v Air Arabia [2026] CICA (Civ) 10 (arising from the Abraaj liquidation), the Cayman Islands Court of Appeal confirmed that a foreign creditor who lodges a proof of debt implicitly submits to the Grand Court's jurisdiction for all matters in the liquidation, including statutory fraudulent trading claims under Section 147 of the Companies Act.
- Practice Impact: Foreign creditors contemplating lodging proofs in Cayman liquidations must weigh the risk of exposing themselves to extra-territorial counterclaims brought by officeholders.
- Source: Consult Conyers' Cayman Islands Insolvency & Jurisdiction Overview.
Cayman Islands: Proof of Debt Submission Equals Jurisdictional Submission (Conway v Air Arabia)