Live Breaking News & Updates on Shanda Games Limited
Stay updated with breaking news from Shanda games limited. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Judicial Committee of the Privy Council (‘the JCPC’) is the final and highest Court of Appeal for the Cayman Islands, eleven other British Overseas Territories, three Crown. ....
In its recent judgment of In the Matter of Qunar Cayman Islands Limited,(1) the Grand Court confirmed and clarified how interest on awards in Section 238 proceedings is to be calculated and how the costs of such proceedings are to be determined. The judgment helpfully clarifies that the midpoint approach previously taken in Shanda(3) is the correct methodology for determining the fair rate of interest payable in Section 238 proceedings. This will be welcomed by dissenting shareholders, particularly where the company has a relatively high cost of borrowing and/or where the prudent investment rate of return has been high during the period that they have been kept out of their money. However, the precise midpoint will always be fact specific and is likely to be the subject of expert evidence in most cases. ....
In its recent judgment of In the Matter of Qunar Cayman Islands Limited,(1) the Grand Court confirmed and clarified how interest on awards in Section 238 proceedings is to be calculated and how the costs of such proceedings are to be determined. The judgment helpfully clarifies that the midpoint approach previously taken in Shanda(3) is the correct methodology for determining the fair rate of interest payable in Section 238 proceedings. This will be welcomed by dissenting shareholders, particularly where the company has a relatively high cost of borrowing and/or where the prudent investment rate of return has been high during the period that they have been kept out of their money. However, the precise midpoint will always be fact specific and is likely to be the subject of expert evidence in most cases. ....