Jul 2013
CAYMAN ISLANDS
GRAND COURT
DISCLOSURE OF SHAREHOLDER REGISTER TO TRACING AGENT – DISCLOSURE OF SHAREHOLDER INFORMATION – WHETHER SHAREHOLDER INFORMATION CAUGHT BY CONFIDENTIAL RELATIONSHIPS (PRESERVATION) LAW
Here, the Joint Voluntary Liquidators petitioned the Court to ask whether the share register and other shareholder information for Royal Bank of Canada International Currencies Fund Ltd (the “Fund”) constitutes “confidential information” within the meaning of the Confidential Relationships (Preservation) Law and, if so, whether such shareholder information can properly be disclosed to tracing agents intended to be instructed by the liquidators.
While the Fund’s business, management and administration were carried on in Guernsey, it was incorporated in the Cayman Islands and consequently the Court had jurisdiction in respect of matters relating to its liquidation. In answering the question, the Court distinguished between the share register and all other documentary information in the possession of the Fund’s administrator which related to the identity, whereabouts, contact details and beneficial ownership of the Registered Shareholders.