Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Availability definition

What does Availability mean? In asset-based lending, availability is the borrowing headroom a borrower can draw at a given time, calculated by reference to the agreed borrowing base. It is a commercial term used in ABL facility agreements rather than a concept defined by legislation or case law in England & Wales, Scotland, Northern Ireland or Ireland. Availability typically equals the sum of advance rates applied to eligible asset classes (commonly receivables and inventory/stock, and sometimes plant and machinery or real estate components) less agreed reserves and less current utilisation, and is always capped by the facility limit. It is affected by eligibility criteria,...

Cayman Islands arbitration under the Arbitration Act 2012: interim, emergency and without notice relief; tribunal and court powers, security for costs, and enforcement (including foreign awards)

Published by a LexisNexis Arbitration expert

Practice notes

This Practice Note reviews the scope for interim relief available from arbitral tribunals and the Cayman courts under the law of the Cayman Islands. For a concise overview of the jurisdiction’s arbitration framework, including the Arbitration Act 2012 (the Arbitration Act 2012), see Practice Note: Stay of court proceedings and anti‑suit injunctions in support of arbitration in the Cayman Islands—an introduction to the Cayman Islands arbitration regime.

Supervision and assistance by the Cayman court in arbitration proceedings

The Grand Court may supervise and assist the arbitral process where appropriate, but will step in only where it is strictly necessary to protect the integrity of the arbitration or to promote the ‘fundamental principles’ of arbitration.

In the first reasoned judgment delivered under the Arbitration Act 2012, Appalachian Reinsurance (Bermuda) Ltd v Greenlight Reinsurance, Ltd (5 February 2014) (Appalachian) (not reported by LexisNexis®), the Grand Court expressly recognised three fundamental principles that underpin the Cayman Islands arbitral framework, namely:

Disputes should be resolved fairly by an unbiased tribunal without unnecessary delay or expense
the parties have autonomy to decide how their

...

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Web page updated on 21/05/2026

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