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Terminating Cayman vehicles and minimising 2024 fees

Do you have any Cayman vehicles that you are considering terminating?

Cayman Islands, Capital Markets, Insolvency & Restructuring, Private Client & Offshore Services, Ogier, Liquidation
First Circuit Holds that Fifth Amendment Takings Claims Must be Paid in Full

The U.S. Court of Appeals for the First Circuit recently ruled in the Puerto Rico bankruptcy case that Fifth Amendment takings claims cannot be discharged or impaired by a bankruptcy plan. As a matter of first impression in that circuit, the Court disagreed with the Ninth Circuit and held that former property owners affected by prepetition takings must be paid in full.

In re Fin. Oversight & Mgmt. Bd., 41 F.4th 29 (1st Cir. 2022)

USA, Insolvency & Restructuring, Litigation, Dechert LLP, US Congress, Supreme Court of the United States, Ninth Circuit
Termination of Cayman vehicles - advance planning to minimise 2020 fees

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