Directors - what to do, and what not to do, if your business is struggling financially or facing other Covid related difficulties
  1. Directors’ duties under company law
  2. Particular issues arising out of insolvency
Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Tax, Fox Williams LLP, Coronavirus, HM Revenue and Customs (UK)
Authors:
Paul Taylor , David Butler
Location:
United Kingdom
Firm:
Fox Williams LLP
Temporary restrictions on winding up applications extended to 31 December

The Corporate Insolvency and Governance Act (“the Act”) became law on 26 June 2020. (Read our previous update on the Act here). As has been widely discussed, the Act introduces new corporate insolvency rescue procedures as well as temporary and permanent insolvency and corporate governance measures.

Filed under:
United Kingdom, Insolvency & Restructuring, Fox Williams LLP, Corporate governance, Coronavirus
Authors:
David Butler , Norajane Egbulefu
Location:
United Kingdom
Firm:
Fox Williams LLP
Cayman Islands insolvency law in 60 seconds

Insolvency law in the Cayman Islands is principally regulated by the Companies Law (2013) and the Companies Winding Up Rules 2008, which are supplemented by a wide body of case law. The following guidance is a summary only.

Insolvency

Under Cayman law, a company may be wound up on the basis of insolvency if it cannot pay its debts as they fall due. A company is treated as unable to pay its debts if:

Filed under:
Cayman Islands, Insolvency & Restructuring, Private Client & Offshore Services, Harneys, Liquidation
Authors:
David Butler , Colin Riegels , William Peake
Location:
Cayman Islands
Firm:
Harneys