Saam Golshani and Alexis Hojabr, White & Case LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
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Liquidation procedures
Eligibility
What are the eligibility criteria for initiating liquidation procedures? Are any entities explicitly barred from initiating such procedures?
Guy Manning and Paul Kennedy, Campbells
This is an extract from the 2020 edition of the Americas Restructuring Review, published by Global Restructuring Review. The whole publication is available here.
In summary
This chapter provides an update and recap of material developments in the Cayman Islands in restructuring and insolvency over the past two years.
Christopher Harlowe and Christopher Levers, Mourant
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
The Cayman Islands has established itself as the jurisdiction of choice for financially sophisticated businesses such as hedge funds, private equity funds, special purpose vehicles and trusts that use offshore vehicles.
In a "jurisprudentially unattractive" decision, the Supreme Court of the Commonwealth of the Bahamas has refused the liquidators of Caledonian Bank (in official liquidation under the supervision of the Grand Court of the Cayman Islands) recognition in the Bahamas, where assets in the region of $16 million are held.
Facts
Covid-19 has brought about much uncertainty for businesses worldwide and it is timely for a special edition of Going Concerns to provide a "survival guide" in the following jurisdictions Singapore, the People's Republic of China ("PRC"), Hong Kong, United Kingdom and the United Arab Emirates ("UAE"). This special edition will also touch on recent legislation and stimulus packages introduced by governments of the above (where applicable) in response to the Covid-19 outbreak, which will impact both creditors and debtors.
Survival guide
Cristóbal Eyzaguirre B, Rodrigo Ochagavía O and Santiago Bravo S, Claro & Cia
This is an extract from the 2020 edition of the Americas Restructuring Review, published by Global Restructuring Review. The whole publication is available here.
In summary
Sit Kwong Lam v Petrolimex Singapore Pte. Ltd [2019] HKCA 1220 (date of judgment 1 November 2019)
But Ka Chon v Interactive Brokers LLC [2019] 5 HKC 238 (date of judgment 2 August 2019)
The Companies Court has changed the approach in which winding up proceedings are handled when the alleged debt is the subject of an arbitration agreement in the case of Lasmos Limited v Southwest Pacific Bauxite (HK) Limited [2018] HKCFI 426. In two recent bankruptcy cases, the Court of Appeal made obiter comments on the Lasmos approach.
ISSUE 3 2017 FOCUS ON Brexit & the US Administration IN International News The Best Option for Dispute Resolution Brexit and the Free Flow of Data What to Expect from Trump’s FTC and DOJ in Terms of Merger Policy 2 International News EDITOR Andrea Hamilton Partner Brussels +32 2 282 35 15 [email protected] PUBLICATION EDITORS Aileen Devlin Kate Hinze CREATIVE SERVICES Jane Hanlon Cali Stefanos TABLE OF CONTENTS 3 Cross Border M&A: The Impact of Brexit, the Trump Ad