As year end approaches, it is time to start planning the liquidation of Cayman Islands entities that have reached the end of their life cycle to ensure that unnecessary fees are not incurred.
Cayman Islands, Insolvency & Restructuring, Private Client & Offshore Services, Maples Group, Liquidation, Cayman Islands Monetary Authority
As we approach the end of 2015, now is the time to start planning the liquidation of Cayman Islands entities that have reached the end of their life cycle to ensure that unnecessary 2016 fees are not incurred.
On December 5, 2013, Judge Steven Rhodes of the US Bankruptcy Court for the Eastern District of Michigan held that the city of Detroit had satisfied the five expressly delineated eligibility requirements for filing under Chapter 9 of the US Bankruptcy Code1 and so could proceed with its bankruptcy case.
USA, Michigan, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy, Sixth Circuit, US District Court for Eastern District of Michigan