News & Analysis as of

Debt Restructuring Cayman Islands

Conyers

The Rise of Convertible Debt: An Alternative Source of Funding for Chinese Issuers

Conyers on

In the ever-evolving world of corporate finance, one trend that has been gaining significant momentum is the increased issuance of convertible debt by Chinese issuers. Over the past few months, Chinese technology companies...more

Walkers

Cayman Islands Schemes of Arrangement now available for Exempted Limited Partnerships using the Restructuring Officer Regime

Walkers on

A Cayman Islands scheme of arrangement is a court approved compromise or arrangement between a company and its creditors or shareholders (or classes thereof). A scheme of arrangement is frequently used to implement a...more

Walkers

Restructuring officers appointed over troubled segregated portfolios

Walkers on

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

Conyers

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

Conyers on

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

Conyers

Revamped Cayman Islands Restructuring Regime Takes Shape

Conyers on

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

Walkers

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

Walkers on

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

Orrick - Distressed Download

Second Circuit Affirms Dismissal of Chapter 15 Appeal by Purported Shareholder on Standing Grounds

In a March 19, 2019 summary order, the U.S. Court of Appeals for the Second Circuit affirmed the district court’s dismissal of a purported shareholder’s appeal challenging the chapter 15 recognition of a Cayman Islands...more

Jones Day

Cross-Border Bankruptcy Update: COMI Migration and Illegitimate COMI Manipulation Distinguished

Jones Day on

With the significant increase in cross-border bankruptcy and insolvency filings in the 43 nations or territories that have adopted the UNCITRAL Model Law on Cross-Border Insolvency (the "Model Law"), including the U.S., the...more

Dechert LLP

Restructuring and Insolvency Bulletin Issue 2 - 2017: An update on COMI shifting to take advantage of the best insolvency tools to...

Dechert LLP on

The EU has taken aim at fraudulent or abusive forum shopping in the Recast Insolvency Regulation, acknowledging the potential for misuse by debtors seeking to take advantage of more flexible insolvency processes available in...more

Hogan Lovells

Court permits strategic transfer of Center of Main Interests (COMI) in Chapter 15 Case

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The bankruptcy court in In re Ocean Rig UDW Inc., 17-10736 (Bankr. S.D.N.Y. Aug. 24, 2017) determined that a decision by an offshore drilling company from the Republic of the Marshall Islands (RMI) to shift its Center of...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Restructuring Offshore PRC Debt"

As the growth of the Chinese economy (and the real estate sector in particular) slows, we are seeing stress in an increasing number of issuers of offshore noninvestment-grade People’s Republic of China (PRC) bonds. It seems...more

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