Do you have any Cayman vehicles that you are considering terminating?
Cayman Islands, Capital Markets, Insolvency & Restructuring, Private Client & Offshore Services, Ogier, Liquidation
As COVID-19 related economic disruptions place unprecedented stress on cash flows, the risk of insolvency is a new and growing concern for many businesses. Against the backdrop of a decades-long growth in corporate debt, boards of directors are making decisions that have the potential for pitting the interests of creditors against the interests of equity shareholders.
USA, Delaware, Insolvency & Restructuring, Troutman Pepper, Shareholder, Fiduciary, Directors' duties, Coronavirus, Insolvency Act 1986 (UK)
Do you have Cayman vehicles that you are considering terminating?
If so, you should consider initiating the process now to minimise or eliminate 2020 annual fees. This note contemplates corporate vehicles but similar considerations apply to partnerships.
Termination by voluntary liquidation
Cayman Islands, Insolvency & Restructuring, Private Client & Offshore Services, Securitization & Structured Finance, Ogier, Cayman Islands Monetary Authority