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Restructuring and Corporate Recovery Jurisdiction Guide: Cayman

Domestic Procedures

What are the principal insolvency procedures for companies in your jurisdiction?

Liquidation: voluntary and official.

Cayman does not have an equivalent to the English concept of the company administration or to the Chapter 11 process in the United States.

Schemes of Arrangement/“Soft Touch Liquidations” allow the company to enter into an agreement with its shareholders and/or creditors.

British Virgin Islands, Cayman Islands, Insolvency & Restructuring, Litigation, Ogier
Trademark Licensees Retain Their Rights to Use a Debtor’s Trademarks Despite the Debtor-Licensor’s Rejection of the Licenses

The question regarding whether a trademark licensee may continue to use a license after a debtor-licensor rejects the license in its bankruptcy case has now been answered. On Monday, May 20, 2019, the Supreme Court handed down an 8-1 opinion in Mission Product Holdings, Inc. v.

USA, Insolvency & Restructuring, Litigation, Trademarks, Vinson & Elkins LLP, Seventh Circuit, First Circuit