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Careful consideration of comity when winding up Cayman companies

Introduction
Background
Primacy of courts in place of incorporation
Decision
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier
Insolvent Cayman companies: will court wind up or allow opportunity to restructure?

Background
Facts
Decision
Comment


Background

Cayman Islands, Insolvency & Restructuring, Ogier
Insolvent cayman companies: will the court wind up or allow an opportunity to restructure?

Introduction

Cayman Islands, Insolvency & Restructuring, Litigation, Ogier
Grand Court strikes out creditor's winding-up petition and comments on relationship with arbitration clauses

Facts
Strike out
Stay in favour of arbitration
Comment

Cayman Islands, Insolvency & Restructuring, Ogier
Grand Court strikes out creditor's winding-up petition and comments on relationship with arbitration clauses

Cayman Islands, Arbitration & ADR, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ogier, Winding-up
Latitude: Ogier's restructuring and corporate recovery digest, March 2021

Q4 2020 and Q1 2021 saw some significant developments in offshore restructuring, insolvency and corporate recovery, with the passage of new legislation and the handing down of judgments providing welcome clarification on laws relevant to practitioners in this area.

Cayman Islands, Guernsey, Insolvency & Restructuring, Litigation, Ogier, Private equity, Coronavirus
FCA confirms CRA super priority over secured creditors on a GST/HST debtors’ property

In Toronto-Dominion Bank v Canada,1 the Federal Court of Appeal (FCA) upheld the Federal Court’s decision2 that the Toronto-Dominion Bank (TD) was required to pay to the Canada Revenue Agency (CRA) proceeds of $67,854 for unremitted GST that TD received as repayment from a borrower upon the discharge of a TD mortgage.

Canada, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Due diligence, Federal Court of Appeal (Canada)
Court of Appeal validates test under Section 99 of Companies Law

Legal issue of principle
Facts
First-instance decision
Court of Appeal decision
Decision's relevance

Cayman Islands, Insolvency & Restructuring, Ogier
Court of Appeal validates test under Section 99 of Companies Law

The Court of Appeal has provided much needed clarification of the test for validating certain transactions by companies that are subject to a winding-up petition, pursuant to Section 99 of the Companies Law (2020 Revision).

Cayman Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ogier
Cayman Islands Court of Appeal validates test under section 99 of the Companies Law

The Cayman Islands Court of Appeal has provided much needed clarification of the test for validating certain transactions by companies that are subject to a winding up petition, pursuant to section 99 of the Companies Law (2020 Revision) (the "Companies Law").

The Legal Issue of Principle

Cayman Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Ogier