News & Analysis as of

Liquidation Cayman Islands Creditors

Conyers

Holt the Press! Developments in SPC Restructuring

Conyers on

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

Jones Day

U.S. Bankruptcy Court Directs Turnover of Chapter 15 Debtor's Assets for Administration in Foreign Bankruptcy Proceeding

Jones Day on

Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more

Conyers

The Effect of Subordination Agreements in the Event of Insolvency

Conyers on

Is it possible for a debtor company to issue debt (such as bonds) and contractually agree for that debt to rank lower in priority than debts owed by a company to other unsecured creditors? This article examines the commercial...more

Conyers

Winding-Up Order Obtained Against Cayman Islands Fund Investment Manager Within 3 Months

Conyers on

The Honourable Mr Justice Kawaley granted a winding up order against Airstream Investment Ltd (the “Company”), an exempted company incorporated under the laws of the Cayman Islands. Conyers acted for the successful...more

Walkers

‘What say ye?’: The importance of creditors’ views in restructurings – an offshore perspective

Walkers on

Introduction - In two relatively recent offshore cases, the differing views of creditors and shareholders (and management) have been considered in the context of winding up pro- ceedings, including the criteria for the...more

Conyers

Directors: “What shall we do?” – Interplay between the Sequana decision, HSBC v NewOcean Energy Holdings Ltd and the new Cayman...

Conyers on

Due to the recent challenging economic environment, the law’s treatment of creditors’ interests in a restructuring or insolvency has been a hot topic. From a creditor’s perspective, its objective will be straightforward: to...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

Conyers

Mistakes Were Made … What is a Liquidator to Do?

Conyers on

A fundamental principle of insolvency law in the Cayman Islands is that upon the commencement of a liquidation of a company, a line is drawn in the sand and the assets of an insolvent company should be distributed on a pari...more

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