Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable.
We are often engaged to assist creditors,...more
Following the English High Court’s written reasons for sanctioning the Adler Group restructuring plan on 21 April 2023, the English Court of Appeal has overturned the High Court’s decision and sent a strong message regarding...more
2/20/2024
/ Appeals ,
Cayman Islands ,
Commercial Litigation ,
Corporate Governance ,
Corporate Restructuring ,
Creditors ,
Debt ,
Debt Restructuring ,
Dispute Resolution ,
EU ,
Liquidity ,
Shareholders
Recent amendments to Part V of the Cayman Islands Companies Act have updated the domestic restructuring regime and introduced the new role of a court appointed restructuring officer and a dedicated restructuring petition....more
From 31 August 2022, members’ schemes of arrangement pursuant to section 86 of the Companies Act of the Cayman Islands are not subject to the ‘headcount test’ being met, bringing further certainty to the process.
The...more
What is a scheme?
A compromise or arrangement between a company and any class or classes of its creditors (and/or shareholders). The process broadly mirrors an English scheme of arrangement thereby providing legal...more
On 21 April 2023, the English High Court handed down its written reasons for sanctioning the Adler Group restructuring plan proposed under the new Part 26A regime of the UK’s Companies Act 2006, which raised questions...more
8/4/2023
/ Cayman Islands ,
Corporate Restructuring ,
Cramdown ,
Creditors ,
Dissenters Rights ,
Insolvency ,
Jurisdiction ,
Pari Passu ,
Sanctions ,
Stakeholder Engagement ,
UK Companies Acts