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Conyers

Ten Things You Need To Know About… BVI Economic Substance

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The British Virgin Islands (the BVI), along with most other major offshore jurisdictions, has introduced “economic substance” requirements for entities carrying on certain specified activities. This economic substance regime...more

Walkers

Restructuring officers appointed over troubled segregated portfolios

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The Grand Court of the Cayman Islands recently confirmed expressly for the first time that it has jurisdiction to wind up a segregated portfolio company ("SPC") on the insolvency of one or more, but not all, of its segregated...more

Walkers

Taking a Closer Look at the Law Relating to the Appointment of Inspectors

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Synopsis In the matter of Avivo Group (Cause No. FSD 145 of 2022 (RPJ)), Walkers, instructing Ms Clare Stanley KC of Wilberforce Chambers, acted as Cayman Islands counsel to Avivo Group (the ‘Company’) in respect of its...more

Walkers

Learning from Mistakes: Imposing Constructive Trusts over Mistaken Payments

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Synopsis In the recent judgment of Re Premier Assurance Group SPC Ltd. (in Official Liquidation) (unreported, Smellie C.J., Cause No. FSD 264 of 2020 (ASCJ), 7 April 2022), the Grand Court of the Cayman Islands sanctioned a...more

Conyers

Cayman Islands Restructuring: Court-to-Court Communication and Co-operation in Cross-Border Matters

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With a marked increase in large-scale cross-border insolvency and restructuring proceedings in the Cayman Islands and elsewhere, there is a greater focus on principles of comity and co-operation between courts and...more

Walkers

Home Thoughts, From Abroad - Restructuring Recognition (and Recognition of Restructuring)

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Where a company’s liquidation is necessary, deciding who or where is best placed to administer an orderly wind down for the benefit of creditors can be difficult: the shortfall of assets in an insolvency will highlight...more

Walkers

Judgment on Declaratory Relief in Cayman Islands Insolvent Liquidation Proceedings

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A recent decision of Kawaley J sitting in the Grand Court of the Cayman Islands (the “Grand Court”) has provided helpful clarification on what he described as a “legally significant” and “important jurisdictional point”. The...more

Conyers

The Rise & Rise Of Cayman Foundation Companies

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Cayman Foundation Companies are booming in popularity. Statistics from the Register of Companies have shown a significant uptick in registrations in recent months. 2021 saw 281 per cent year-on-year growth in the...more

Conyers

Going it Alone

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On 12 November 2021, the Supreme Court of Bermuda issued its written judgment in NKWE Platinum Limited v (1) Glendina Pty Limited and Ors (2) Genorah Resources (Pty) Limited. The Court’s ruling both provides helpful...more

White & Case LLP

Singapore restructuring regime: foreign companies establishing eligibility for moratorium protection

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In Re PT MNC Investama TBK [2020] SGHC 149, the Singapore High Court provided guidance as to what is sufficient for a foreign company to establish standing to avail itself to the Singapore restructuring regime. Specifically,...more

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