Philip Jones QC appeared in the Cayman Islands Court of Appeal in Shanda Games, one of China's largest computer games companies which delisted from the NYSE on a merger taking place. This was the first case to reach the Court of Appeal in relation to section 238 of the Cayman Companies Law, and involves an important point of principle as to whether a minority discount should be placed to valuation of shares of dissenting shareholders to a merger. Judgment is awaited, and the matter is expected to reach the Privy Council.

Please click here to view the judgment.