Cayman Islands:
Recognition Of Foreign Compromises And Facilitating Their Effectiveness
To print this article, all you need is to be registered or login on Mondaq.com.
The Grand Court of the Cayman Islands (the "Grand
Court") has long adopted a uniquely flexible,
pragmatic and cooperative approach in cross-border insolvency
matters. Recognising the considerable degree of cross-border
co-operation in respect of insolvency matters in the Cayman
Islands, the law and judicial practice were codified pursuant to
certain wholesale amendments to the Companies Law in 2007
("Companies Law"). Part XVII of the
Companies Law deals with international cooperation with respect to
foreign bankruptcy proceedings.
This article was first published in South Square Digest, March 2016.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Insolvency/Bankruptcy/Re-Structuring from Cayman Islands
Lending & Secured Finance Comparative Guide
Dillon Eustace
Generally speaking, no. Neither lending to (larger) corporate borrowers nor taking the benefit of security over assets located in Ireland requires a foreign or nonbank lender to be licenced...
Applying For Norwich Pharmacal Relief In The BVI
Collas Crill
In light of the privacy afforded to companies incorporated in the British Virgin Islands (the BVI), it is no surprise that the BVI Court regularly considers applications seeking disclosure...
Insolvency 2023
Baker & Partners
In 2022, there were about 32 winding-up petitions filed in the Financial Services Division of the Grand Court of the Cayman Islands.