From Mourant Ozannes

This guide is only intended to give a summary and general overview of

the subject matter. It is not intended to be comprehensive and does not constitute, and should not be taken to be, legal advice. If you would like legal advice or further information on any issue raised by this guide, please contact one of your usual Mourant Ozannes contacts.

Limitation periods in the Cayman Islands are imposed by statute, namely the Limitation Law (1996 Revision) (the Law). The Law prescribes time limits within which a claimant must commence proceedings. There are different limitation periods for different types of claims.

The basic time limits for various claims are set out in Part II of the Law; however, Part III of the Law contains exclusions and extensions to the ordinary time limits, eg, in cases of fraud, concealment and/or mistake. Thus, when considering whether to commence any type of claim, it is advisable to obtain legal advice as to when any relevant limitation period started to run and whether it has expired. If a claim is not brought in time, the defendant(s) will be able to plead limitation, which, if established, will provide a complete defence to the claim.

The basic limitation periods for some of the most common types of claims are detailed in the attachment.

Contacts:

Peter Hayden, Partner, Cayman Islands

+1 345 814 9108 [email protected]

Hector Robinson, Partner, Cayman Islands

+1 345 814 9114 [email protected]

Morven McMillan, Partner, Cayman Islands

+1 345 814 9101 [email protected]

Simon Dickson, Partner, Cayman Islands

+1 345 814 9110 [email protected]