News & Analysis as of

Corporate Restructuring Cayman Islands

Conyers

Holt the Press! Developments in SPC Restructuring

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Appointment of Restructuring Officers - In late 2023, in the case of Holt Fund SPC, the Grand Court ordered the first appointment of Restructuring Officers over particular segregated portfolios of a segregated portfolio...more

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Light Touch Provisional Liquidation Lives On: Cayman Court Offers Clarification After Introduction of the Restructuring Officer...

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On August 31, 2022, Part V of the Cayman Islands Companies Act (the “Companies Act”) was amended to introduce the new role of a court-appointed “Restructuring Officer” and a dedicated “Restructuring Petition” (the “RO...more

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Top 5 Hong Kong Publications of 2024

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In Hong Kong, our most popular thought leadership provided clients with vital information on Cayman Islands investment funds, accompanying questions of corporate governance, and the key advantages of Cayman companies for...more

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Top 5 Cayman Islands Publications of 2024

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While there was lots to read about from a Cayman Islands perspective this past year, our most popular articles came from our Regulatory & Risk Advisory, Corporate, Insurance, and Litigation & Restructuring and practices....more

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Top 5 Bermuda Publications of 2024

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In Bermuda, our most popular posts and publications provided updates from our Corporate practice, particularly regulatory changes and insurance insights, along with reflections on private client matters and litigation....more

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Cayman Islands Litigation: Reflecting on the Year 2024

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As the Grand Court of the Cayman Islands is set to close for 2024, we reflect on some of the large-scale cross-border insolvency and restructuring proceedings and complex commercial disputes dealt with in the jurisdiction...more

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Responding to Regulatory Notices: A Litigator’s Perspective

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There are a variety of information gathering and other compulsory notices available to regulatory and enforcement agencies based in the Cayman Islands, as tools these agencies can draw on to carry out their functions. In this...more

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Conyers Coverage Issue 11 – Summer 2024

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A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more

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Restructuring in the Cayman Islands: The New Regime

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On August 31, 2022, significant amendments to Part V of the Cayman Islands Companies Act (“Act”) took effect to revamp the Cayman Islands restructuring regime. These amendments introduced the new role of a court-appointed...more

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Cayman Islands Non-Petition Clauses: Precision Is Paramount

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In a very recent judgment in the wake of the Abraaj Group fallout, the Grand Court of the Cayman Islands refused to strike out a just and equitable winding up petition and, in the process, analysed the effect of a purported...more

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Cayman Islands M&A: on the rise

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Many acquisitions, especially privatisations, are structured as a statutory merger, and in this article, we provide a brief overview of Cayman Islands (“Cayman”) mergers and consolidations and the general requirements for...more

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Cayman Islands Restructuring: Obtaining Consent in a Crisis

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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

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Update to the Adler High Court Decision: The UK’s Court of Appeal Overturns the High Court’s Approval of the Adler Restructuring...

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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

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Cayman Islands Litigation: Reflecting on the Year 2023

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As the Grand Court of the Cayman Islands reopens for 2024, we reflect on 2023 and some of the large-scale cross-border insolvency and restructuring proceedings, and complex commercial disputes dealt with in the jurisdiction...more

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Cayman Islands Litigation: The Rise of Alternative Dispute Resolution

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On 29 November 2023, the English Court of Appeal delivered an important judgment in Churchill v Merthyr Tydfil County Borough Council et al [2023] EWCA Civ 1416 (“Churchill”) which aligns with a wider trend in embracing a...more

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Cayman Court Exercises Inherent Jurisdiction to Restore a De-Registered Company

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In a recent judgment Re Cradle Holdings Inc. (FSD 318 of 2022, unreported, 4 September 2023), the Chief Justice of the Cayman Islands ruled on the novel issue as to whether and by what route a company which has been...more

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Trina Solar: A Warning Regarding Reliance on Merger Price and Deficient Disclosure in s238 Proceedings

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The successful appeal by dissenting shareholders in Trina Solar provides key insights into the importance of establishing a robust merger process, the company’s burden to make all relevant information available in appraisal...more

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Revamped Cayman Islands Restructuring Regime Takes Shape

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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

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Orienteering Change: Navigating Restructuring Under the New Cayman Islands Regime

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After a substantial industry consultation process, the Cayman Islands introduced the concept of Court-appointed restructuring officers into Part V of the Cayman Islands Companies Act (the “Companies Act”) with effect from 31...more

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Directors' Duties: The Next Chapter

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As directors around the world grapple with difficult and uncertain times arising from various macro-economic factors, these decisions provide useful and timely guidance on the approach that directors should take to protect...more

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Important Takeaways for Bondholders: Do They Have Rights as Contingent Creditors?

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The Cayman Islands Grand Court recently delivered its judgment in Re Shinsun Holdings (Group) Co., Ltd. FSD 192 of 2022 (DDJ) (21 April 2023) (unreported) (the “Shinsun Judgment”) in which the court determined the ultimate...more

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Overview of the New Cayman Islands Restructuring Officer Regime

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The Cayman Islands has always been known for a few things other than its white sandy beaches. It has awell-earned reputation as a global financial hub. Many global businesses restructure through the Cayman Islands due to its...more

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Cayman Islands Litigation Funding: An Undertaking From a Third-Party Funder May Be Adequate Security

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The Singapore Court recently delivered its judgment in Hyflux Ltd (in compulsory liquidation) v Lum Ooi Lin [2023] SGHC 113 (“Hyflux”). Despite the litigation funding landscape being slightly different in Singapore, the...more

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Key Points: Schemes of Arrangement in the Cayman Islands

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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

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Schemes of Arrangement: Restructuring in the Cayman Islands

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These continue to be challenging times and we recognize that the need for cross-border advice on insolvency and restructuring matters may be required at short notice. Conyers’ attorneys are insolvency and restructuring...more

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