Category: Articles & Publications

By George Weru & Scott Andersen Published in Cayman Funds Magazine, April 2012 Corporate insolvencies in offshore jurisdictions can involve complex disputes in respect of the rights of stakeholders with regards to company property, their statutory order of priority or the ranking of their claims. Liquidators can use schemes of arrangement to obtain a binding […]

By Tim Le Cornu INSOL World, Quarter 1 2012 Characteristics of offshore insolvency The demise of an Offshore Fund and appointment of a liquidator, it seems is all too often precipitated by a fraud that renders the Fund incapable of meeting its obligations. Offshore Fund insolvencies are unique in that the company’s assets, investment manager […]

Financier Worldwide moderates a discussion on key trends in corporate restructuring and insolvency between Partha Kar at Kirkland & Ellis International LLP, Kenneth M. Krys at KRyS Global, Melanie L. Cyganowski at Otterbourg, Steindler, Houston & Rosen, P.C, and Van Durrer at Skadden, Arps, Slate, Meagher & Flom LLP. Download the full forum on Key […]

By Frank McGing Published in Financier Worldwide (January 2012) The British Virgin Islands (BVI) and the Cayman Islands are two of the largest international financial centres in terms of company and fund registrations. The BVI at the end of March 2011 had approximately 450,000 registered companies with the Cayman Islands’ total approximately 90,000. The Cayman Is­lands has […]

By Ed Rahming Published in The Bahamas Investor International Business Companies (IBCs) incorporated in The Bahamas are used around the world by business persons and businesses for purposes ranging  from asset holding to complex financial transactions. Their popularity is such that they are frequently encountered in multi-jurisdictional proceedings where a forensic accountant or liquidator seeks […]

By Edmund Rahming Published in Corporate Live Wire Introduction The Caribbean is a region comprising over 7,000 islands and cays and consisting of a land area of almost 93,000 square miles.  The region is made up of 30 jurisdictions including sovereign states, overseas territories and dependencies.  Many of the jurisdictions are former or current British […]

By Timothy Le Cornu and Margot MacInnis Published in Global Insolvency & Restructuring Review 2011/12 Cross-border insolvency is an area of constant change. In the last few years in particular we have experienced the introduction of new or updated law, court decisions in landmark cases and creative practitioners finding new ways to deal with complex problems.All of these […]

INSOL World (Second Quarter 2011) Chair: Ian S. Grier, Sprecher Grier Halberstam LLP Robert Hanel, anchor Rechtsanwalte Chris Honey, McGrath Nicol Kenneth Krys, KRyS Global Panel Chair Mr Grier set the stage for this panel by outlining the substantial increase in crisis of cross-border insolvencies and the issues these cases have raised, including forum shopping, […]

By Jonathan Murphy Published in Corporate International (May 2011) For years, Caribbean jurisdictions have used the UK Insolvency Act 1986 as the basis for insolvency matters, with appropriate amendments for local conditions. In the Cayman Islands, the Companies Winding Up Rules (2010) and the Companies Law 2010 govern the manner in which companies are liquidated. […]

By Jonathan Murphy Published in Recovery Magazine, Spring 2011 Jonathan Murphy provides an insight into the Caribbean offshore market,with particular reference to the Cayman Islands,British Virgin Islands,Bermuda and the Bahamas. Download the article An Offshore Overview – Insolvency in the Caribbean as a PDF