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Liquidation Cayman Islands Commercial Bankruptcy

Jones Day

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

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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

Jones Day

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

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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

Walkers

Appointing liquidators in the Cayman Islands

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Executive Summary - Where multiple Cayman Islands entities in the same corporate structure become subject to insolvency proceedings (e.g. Cayman Islands master/ feeder fund structures), the Cayman Islands Courts will...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

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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

Cole Schotz

New Delaware Chapter 15 Filing – Madison Niche Assets Fund, LTD.

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The official liquidators of Madison Niche Assets Fund, Ltd. and Madison Niche Opportunities Fund, Ltd., two Cayman Islands entities, have filed chapter 15 petitions on behalf of those entities (Case No. 16-10043).  The case...more

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