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The Bermuda restructuring market has continued to be extremely active over the last 12 months, largely as a result of tightening credit markets and ongoing unsettled economic conditions...
First published in Corporate Live Wire, Bankruptcy & Restructuring – Expert Guide, November 2021
British Virgin Islands
In relation to a secured party enforcing its rights under a mortgage or charge of shares in a BVI company, the secured party will typically exercise its rights under BVI law to sell the shares or to appoint a receiver in respect of them.
Cayman Islands
Since the landmark decision in Lamtex early last year in Hong Kong, there has been a flurry of Hong Kong cases in which the Hong Kong Court has wound up a debtor company (incorporated offshore)...
Liam Faulkner, a Partner in our Cayman Islands' Insolvency & Restructuring team, provides an overview of the past year including the insolvency statistics.
Maples Group
The Cayman Islands Court of Appeal ("CICA") in Traded Life Policies Fund (In Official Liquidation) ("TLPF") & Anor v Jeremy Leach et al confirmed that where the plaintiff's want of means (impecuniosity)...
The objective of a scheme of arrangement is to allow the company to enter into an agreement with its shareholders and/or creditors (or any class of them) to either
Carey Olsen
This initiative is a significant departure from the current position where an application for the appointment of a 'light touch' provisional liquidator, for the purpose of restructuring ...
Maples Group
Reforms to Cayman Islands restructuring laws, which are expected to come into force in late 2021 or early 2022, have now been published by the Cayman Islands Government.
Elias Neocleous & Co LLC
Η Eυρωπαϊκή Οδηγία 2019/1023 περί προληπτικής αναδιάρθρωσης, την οποία η Κύπρος πρέπει να ενσωματώσει στ&
Hong Kong
Bryan Cave Leighton Paisner LLP
If a person presents a petition for their own bankruptcy ("self-petition"), are there any safeguards to ensure that the self-petition is genuine, as opposed to a cynical device by the person...
Akin Gump Strauss Hauer & Feld LLP
In a noteworthy decision handed down on 17 December 2021 ("Decision") 1, the High Court of Hong Kong recognised the Mainland China bankruptcy administrator ("Administrator")
In the context of insolvency, the principle of "modified universalism" (Universalism) is defined by Lord Sumption in Singularis Holdings v Prince Waterhouse Coopers as...
NautaDutilh Avocats Luxembourg
The Act of 17 December 2021 has extended the transitional measures provided for by the Act of 23 September 2020 until 31 December 2022. In practice, Luxembourg-based companies can hold either virtual board...
Finance Malta
The insurance industry could tap a €2 million training fund launched by the government to train sector employees.
United Arab Emirates
BSA Ahmad Bin Hezeem & Associates LLP
All UAE business owners and managers should be aware of the very recent decision of the Dubai Court of First Instance in the matter of the Bankruptcy of Marka Holdings PJSC...
Mayer Brown
Article 201 of the UAE Bankruptcy Law also entitles a court to order imprisonment in certain circumstances, including where there has been a failure to share information with a bankruptcy trustee.
As government financial support introduced during the pandemic is withdrawn, restructuring, insolvency and corporate recovery practitioners are braced for an increase in demand from clients.
The first part of this chapter looks at the key aspects of the successful Cayman Islands restructuring regime, including the use of provisional liquidators to protect the debtor...
This chapter discusses the defining features of Bermuda's insolvency landscape and the primary insolvency and rescue procedures available under Bermuda law, including compulsory liquidations...
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