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
We have published a series of articles dealing with directors’ duties in the zone of insolvency. In previous briefings, we have written about the high-profile UK Supreme Court ruling in Sequana and the New Zealand Supreme...more
In a series of recent judgements, the Cayman Islands Grand Court has celebrated the 25th anniversary of the introduction of the segregated portfolio company (“SPC”) regime in the Companies Act by confirming the strict...more
On 11 November 2022, Mr Justice Kawaley ordered the first appointment of restructuring officers in Re Oriente Group Limited (FSD 231 of 2022) under the new Cayman Islands restructuring regime, with reserved written reasons to...more
1/12/2023
/ Advertising ,
Business Litigation ,
Cayman Islands ,
Companies Act ,
Corporate Officers ,
Corporate Restructuring ,
Creditors ,
Debt ,
Debtors ,
Insolvency ,
Restructuring ,
Winding Up Petitions
On 11 November 2022, Mr Justice Kawaley ordered the first appointment of restructuring officers in Re Oriente Group Limited (FSD 231 of 2022) under the new Cayman Islands restructuring regime, with reserved written reasons to...more
On 24 June 2022, the Honourable Mr Justice Harris (of the High Court of Hong Kong Special Administrative Region) granted assistance to Cayman Islands appointed Joint Provisional Liquidators (the “JPLs”) of Seahawk China...more
7/29/2022
/ Business Assets ,
Business Litigation ,
Cayman Islands ,
Cross-Border ,
Hong Kong ,
Insolvency ,
Investment Funds ,
Jurisdiction ,
Liquidation ,
Shareholder Resolution ,
Shareholders
Conyers partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative...more
7/29/2022
/ Amended Legislation ,
Board of Directors ,
Business Litigation ,
Cayman Islands ,
Companies Act ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Fiduciary Duty ,
Insolvency ,
Provisional Measures ,
Shareholders ,
UK
Later this year, amendments to Part V of the Cayman Islands Companies Act (the "Companies Act") will be introduced to commence a new restructuring officer regime available to companies in financial difficulty. Under the new...more
In the recent decision of Evergreen International Holdings Limited, delivered on 11 January 2022, the Grand Court of the Cayman Islands made an order for the immediate winding up of a company notwithstanding the company’s...more
2/24/2022
/ Amended Legislation ,
Business Litigation ,
Cayman Islands ,
Companies Act ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Dismissals ,
Hong Kong ,
Provisional Measures ,
Rational Basis Test ,
Winding Up Petitions