Adam is a Senior Associate with Stuarts Humphries’ Litigation & Insolvency team in the Cayman Islands with over 14 years’ experience.
Practice Experience
Adam specialises in commercial litigation, corporate and funds disputes, insolvency, asset tracing and recovery, shareholder disputes and claims against directors for breaches of duty.
Adam has advised on many aspects of commercial disputes from the pre-action stage through to enforcement of judgments. Many of the cases he has been involved in have included applications for interim measures, particularly freezing orders. He is also very experienced in various different forms of settlement negotiation, particularly mediations, and many of his cases have resulted in successful negotiated settlements avoiding the need for trial.
In addition, Adam regularly advises directors, companies and shareholders where a company is of doubtful solvency, on matters relating to the company’s Articles of Association, on indemnity provisions and on limitation issues. Adam has also advised clients in relation to issues concerning international sanctions.
Together with Richard Annette, Adam has also written legal opinions on different aspects of Cayman Islands law, such as director’s duties and disaster-relief legislation, for use in ongoing legal proceedings in foreign jurisdictions.
Prior to joining Stuarts, Adam was a solicitor practicing in the commercial dispute resolution team of a boutique law firm in London handling claims in the English High Court and international arbitration disputes.
Recent Cases
- Represented the defendants in Cayman Islands proceedings brought by the Joint Official Liquidators of two funds against the funds’ former directors and various service providers for alleged dishonest breaches of directors’ duties, unlawful means conspiracy and fraud. The Liquidators claimed damages in excess of US$35 million. The case settled shortly before the commencement of a four-week trial. The case was also noteworthy in leading to an important decision of the Cayman Islands Court of Appeal in respect of Security for Costs (Traded Life Policies Fund (in Official Liquidation) and Penner (as Joint Official Liquidator) v Leach and Eight Others [2022] 1 CILR 82). The Court held that, as part of the Court’s discretion in deciding whether to award security for costs, the Court should take into account whether the Plaintiff’s impecuniosity had been caused by the Defendants based on the admitted or not seriously disputed facts.
- Acting in contested winding up proceedings for the company subject to the Petition (Diversified Settlements Fund [2020], Unreported).
- Acting for the First, Third and Fourth Defendants in Cayman Islands proceedings brought by a high-net worth individual seeking the rectification of the share register of a Cayman Islands holding company (the Second Defendant). The Plaintiff also sought permission, following rectification of the share register, to bring a derivative action on behalf of the Second Defendant company against Stuarts’ clients for alleged breaches of directors’ duties and the alleged misappropriation of assets worth an estimated US$42 million. The case was dismissed following a two-day hearing in the Grand Court in which Orders that had been granted to the Plaintiff ex-parte for permission to serve the proceedings out of the jurisdiction and to extend the validity of the Writ were set aside and the proceedings against the Fourth Defendant were struck out for eliciting no reasonable cause of action (Juan Enrique Rassmuss Raier v Luis Eduardo Correa and Three Others [2023], Unreported). Stuarts’ clients were awarded their costs on the indemnity basis.
- Acting for a substantial healthcare provider in the Cayman Islands in a complex series of disputes concerning the parties’ ongoing obligations under a Share Purchase Agreement. As part of that dispute, the Plaintiffs presented Stuarts’ client with a Statutory Demand for in excess of US$1 million. Stuarts applied ex-parte for an Order restraining the Plaintiff from presenting a Winding-Up Petition on the basis that the debt was disputed, which was ultimately agreed by consent. The various disputes were settled shortly thereafter.
- Advised a Cayman Islands fund in relation to an action brought by the fund’s former shareholder. The fund had repurchased the shareholder’s shares pursuant to a power in its articles. The former shareholder challenged the repurchase and applied for an order to be reinstated to the register.
- Acting for a Cayman National and two Cayman Islands companies who were subject to a Worldwide Freezing injunction of assets up to US$30 million (Canterbury Securities, Ltd (In Official Liquidation) and two Others v Erin Winczura and two Others [2024], Unreported). These proceedings arose out of previous Cayman Islands legal proceedings (Fortunate Drift v Canterbury Securities Ltd [2020] 2 CILR 118). Following that litigation, the Defendant company went into liquidation and the liquidators then brought proceedings against Stuarts’ clients on behalf of the company for alleged wilful breaches of director’s duties, fraudulent misappropriation of assets and unlawful means conspiracy.
- Defending an individual accused of fraud, bribery and corruption by the government of an African country in a claim worth in excess of US$100 million.
- Acting for a Singapore-based hedge fund against a major international bank in a claim for breach of contract worth over US$10 million.
- Acting for a construction company in an international arbitration claim under LCIA rules valued at over US$50 million.
- Advising an English commodities trader in relation to a dispute with their insurers over the loss of two shipments of perishable goods with an estimated value of over of US$15 million.
- Defending a high net worth individual in a complex multi-party dispute regarding the ownership of assets worth over US$1 billion.
Admissions
- Grand Court of the Cayman Islands, 2021
- Senior Courts of England and Wales (non-practising), 2010
Education
- Queen Mary University of London, LLM in Comparative Dispute Resolution and International Arbitration (Merit)
- College of Law, Guildford, Graduate Diploma in Law and LPC (Commendation)
- University of Nottingham, BA in History (Upper Second Class Hons)
Professional Associations
- The Recovery and Insolvency Specialists (Cayman) Association
Recent News & Insights
Awards & Recognition (Department)
"Stuarts' disputes team is 'technically very strong'. Highlights included advising and challenging the grant of Norwich Pharmacal and bankers trust relief before the Grand Court." - Litigation Client Testimonial - Legal 500
"Stuarts' lawyers have savvy business judgement'. The practice acted for the estate of a high-net-worth individual and several corporate plaintiffs, in a claim for the ownership and control of funds that were the subject of a revoked trust. Richard Annette is 'very thorough in his research of contract and case law'" - Litigation Client Testimonial - Legal 500
"Stuarts Humphries is particularly focused on commercial, insurance and insolvency disputes.” - Legal 500 Publication Recognition
