In an unprecedented turn of events, two recent proceedings in the Grand Court of the Cayman Islands considered the same complex legal issues just one week apart.
Cayman Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Walkers, Cayman Islands Court of Appeal
Introduction
Facts Facts
Decision
Comment
Introduction
Japan, Insolvency & Restructuring, Litigation, Jones Day, Surety, Debtor, Fraud, Liability (financial accounting)
Japan, Banking, Insolvency & Restructuring, Litigation, Jones Day, Debtor, Clearing house (finance), Debt
On March 1 2011 Tokyo District Court issued a decision which admitted the right of avoidance exercised by the court-appointed administrator of a corporate debtor in possession under civil rehabilitation proceedings, where the debtor company had settled a mortgage for a financing company as the real guarantor of its parent company.