The views of participating shareholders prevail in solvent liquidations

The decision of Re Adamas Asia Strategic Opportunity Fund Limited (in Voluntary Liquidation) reinforces the need for the wishes of investors in Cayman Islands investment funds to be taken into account when the fund's investment manager (or the holder of the fund's voting shares) takes steps to place the fund into liquidation. As those who hold the economic interest in any liquidation, the wishes of investors cannot be ignored simply because they have no involvement in the management of the fund.