The recent Cayman Grand Court ruling of In the Matter of ECM Straits Fund I, LP ("ECM Straits Fund") helpfully clarifies that voluntary liquidators of an Exempted Limited Partnership ("ELP") can be subject to court supervision, with the result that voluntary liquidators can be granted powers that are usually reserved for court-appointed liquidators.

Introduction

Finance Minister Grant Robertson yesterday afternoon announced a number of proposed temporary changes to the Companies Act, with the stated purpose to help businesses facing insolvency due to COVID-19 remain viable.

The temporary changes include: