Parker J
1 IN THE GRAND 2 FINANCIAL SI
3
4
5
6 IN THE MATT
7 AND IN THE
8 LIQUIDATION
9
10
11 Appearances:
12
COURT OF THE CAYMAN ISLANDS
RVICES DIVISION
Ca
ER OF THE COMPANIES LAW (2018 REVISION)
MATTER OF THE WIMBLEDON FUND, SE
Mr. Kyle Broadhurst
McClymont of Broadhurst
se No: FSD 111/2017
C (IN OFFICIAL
and Ms. Kate
I LLC on behalf of
13
14
15
16
17
18
19
20
21 Before:
22 Heard:
23
24
25
26
27
the JOLs of Wimbledon Fund Ltd. (In Official Li-
Applicants
Messrs. Nicholas Hoffman
of Harneys Westwood &
of The Wimbledon Fund
Liquidation) for the Resp-
The Hon. Justice Raj Park
19th November 2018
HEADNOTE
Companies Law: The issue of Costs - GCR 0.62 r.4 - Costs the Court's "unfettered discretion" to depart from the gene-
following the event argued.
Financing Master
(liquidation) for the
and Lachlan Greig
judges for the JOLs
SPC. (In Official
ndents
r
is to be reserved and
al mandate of costs
28
29
30
31
32
33
Ruling on Costs Cause Date: 31.12.2018
(o. FSD 111/2017. In the Matter of The Wimbledon Fund, SPC (In Official Liqui-
tion). Coram: Parker J.
1
2
3
4 Of
5
6
7 The M
8 Company
9 against
RULING ON COSTS
OF THE LEAVE APPLICATION THE WIMBLEDON FINANCING MASTER FUND L.
(IN OFFICIAL LIQUIDATION)
Master Fund seeks its costs arising from an application under s.97 of the
law (2018 Revision) ("the Law") for leave to commence The Wimbledon, SPC Fund ("the SPC Fund") in New York.
6
D
under s.97 of the
law proceedings
10 2. The SP
11 pending
12 3. Written
13 4. I heard
14 deliver
15 should
16 5. A succe
17 unsucc
18 6. However, Fund resists the application and argues that the costs
the outcome of the New York proceedings.
submissions have been provided by the parties.
The application for leave, which was contested, on the 19th
d a Judgment in early December 2018 - giving reasons w
be given leave.
ssful party to a discrete application should recover its reason
ssion, butty unless the Court otherwise orders!.
er, the Court has an unfettered discretion to depart from should be reserved
November 2018. I
by the Master Fund
able costs from the
he general mandate
19 that co
20
1 See GCR (Revised)
2 See GCR O.62 r.4(c)
Ruling on Costs. Cause No. Date: 31.12.2018
its will "follow the event" in the relevant circumstances of the
case2.
FSD 11/2017. In the Matter of The Wimbledon Fund, SPC (Official Liquidation)
on: Coram: Parker J.
1 7. The SPC
2 good
3 success
4 under
5 leave.
6 8. The SPC
7 the appeal
New York law, and, in addition, ordered to pay the costs of
the application for
four applications where
8 9. The SPC
9 the SPC
10 might
11 Fund.
12 10. I do n
13 object
14 11. The m
15 of the
16 follow-
17 Master SPC Fund states further that the Court should reserve costs
in New York proceedings is known, and then make the appeal
so that the costs of the application for leave should be av-
There is no need to determine the matter now.
ott accept these submissions. I see no reason to depart
ve of GCR 0.62 r.4(2) that costs should ‘follow the event’.
after I determined was a discrete matter. I did not consider it
clear if it was a choice of forum decision based upon an ex-
tensive submissions and evidence upon which I ruled,
until the outcome of
appropriate order, which
barded to the Master
from the overriding
he underlying merits
were as of discretion
ed in favour of the
party.
18
19
20
21
Ruling on Costs. Cause No. Date: 31.12.2018
1 12. The S
2 basis,
3 13. There
4 costs.
5
6 Dated this the 31"
C Fund should pay the Master Fund's costs of the applica-
to be taxed if not agreed within twenty-eight (28) days.
no circumstances in this case which would warrant an
day of December 2018
ation on the standard
order for indemnity
7 8 The Honourable J
9 Judge of the Gran
r, Justice Raj Parker d Court
Riding on Costs. Cause N Date: 31.12.2018
FSD 11/12017. In the Matter of The Wimbledon Fund, SPC (In Official Liquida-