Daily Compliance News: April 7, 2025, The Whistleblowers Awarded Edition
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
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
Arbitration clauses are commonly found in commercial contracts. However, tricky issues arise when a company subsequently seeks an order for winding up, particularly in circumstances where the facts relied on in support of the...more
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
The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more
According to a February 22 ruling by the Bankruptcy Court for the Southern District of New York, foreign banks with a U.S. branch or agency are ineligible for Chapter 15 recognition. The case before Chief Judge Glenn, In re...more
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
Although bankruptcy courts frequently grant chapter 15 recognition to proceedings initiated by Cayman provisional liquidators, recognition is not automatic. Instead, in considering a petition for recognition of a Cayman...more
Cayman Islands companies have dominated the restructuring news cycle of late for a variety of reasons, including recent judicial commentary as to the effect of obtaining recognition under Chapter 15 of the U.S. Bankruptcy...more
Chapter 15 of the Bankruptcy Code, added in 2005, provides a route for debtors to obtain US recognition of their insolvency proceedings in other countries. A foreign proceeding can be recognized under chapter 15 as either a...more