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Sanctioning ownership: the Grand Court of the Cayman Islands confirms the broad scope of its sanction jurisdiction

Introduction

In the recent decision of Re Ascentra Holdings Inc.(in Official Liquidation), the Grand Court of the Cayman Islands has once again confirmed the significant scope of its sanction jurisdiction in the context of official liquidations under section 110(2) of the Companies Act.

Cayman Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Ogier, Sanctions, Companies Act
Grand Court makes first restoration order in respect of fraudulently dissolved Cayman company

Introduction
Facts
Background
Decision
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier
SEQUANA: UK Supreme Court Explanation of the “Creditor Duty”

Introduction

Today, the UK Supreme Court considered for the first time the existence, content and engagement of the so-called “creditor duty”: the alleged duty of a company’s directors to consider, or to act in accordance with, the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real risk of, insolvency.

United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Insolvency, UK Supreme Court
Grand Court further develops insolvency test for Cayman Islands segregated portfolio companies

Introduction
Facts
Background
Decision
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier
Characterisation of just and equitable winding-up petitions: dispute with company or between shareholders?

Introduction
Subject matter or participant?
Facts in Madera
Characterisation of petition
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier
Cayman Islands welcomes reforms to restructuring regime

Introduction
Restructuring petitions
Schemes of arrangement
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier
Grand Court further develops insolvency test for Cayman Islands segregated portfolio companies

Introduction

Cayman Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Ogier, Insolvency, Receivership
Practical approach to substituted service: Grand Court allows substituted service of winding up petition on registered Cayman company

Introduction
Facts
Decision
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier
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
When can proceedings be issued against a Cayman Islands-incorporated company in liquidation?

Introduction
Background
Facts
Decision
Comment


Introduction

Cayman Islands, Insolvency & Restructuring, Ogier