This article is the second in a series of three articles which examine the key features of a securitisation vehicle and the advantages of utilising an Orphan SPV in the Cayman Islands for a securitisation transaction.

Given the current financial climate you may wonder what options are open to you or your organisation when you are owed money by a third party. There can often be an assumption that lengthy court processes are required to recover sums due. That is not the case and in this article we consider some of the options available to help recover debts in Scotland.

Pre-Court Action

Statutory Demand

BVI UPDATES 1. Changes to FSC fees The Financial Services (Fees) (Amendment) Regulations, 2023 came into force on 1 April 2023, with the exception of fees relating to the virtual asset services provider regime which came into force on 1 February 2023.

There are often difficult issues encountered when the worlds of bankruptcy and probate collide. This case is a good example.

The case concerns section 283A of the Insolvency Act 1986 ("s283A") which provides that a bankruptcy trustee must deal with a bankrupt's interest in their home within three years, otherwise the property re-vests in the bankrupt on expiry of this period. It is commonly known at the "use it or lose it" provision.

The Moveable Transactions (Scotland) Bill introduces a raft of fundamental changes designed to modernise and improve the law of Scotland in relation to transactions concerning moveable property.

The Cayman Islands is the preeminent offshore jurisdiction for corporate, fund and finance vehicles. It is also a creditor friendly jurisdiction, where properly constituted security has statutory protection from the reach of liquidators. We explore some of the options available to lenders and companies when navigating troubled waters.

1 Introduction

Once a tenant becomes insolvent a landlord's recovery options become more limited but there are important steps a landlord should be taking.

1. Check the terms of any rent deposit agreement

Check the terms of the arrangement to find out how the deposit is held and when it is available for to use. In some cases, such as when a tenant has entered into a creditors' voluntary agreement, consent from the court may be required before the deposit can be used.

2. Find out the tenant's status

An overview of Guernsey legislative and regulatory developments for the period 1 December 2022 to 28 February 2023 inclusive.

1 Corporate insolvency regime – update

The Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020 (the Amendment Ordinance) finally came into force on 1 January 2023.

Introduction

It seems like a week hasn't passed recently without some new global macro shock hitting our screens, resulting in the economic rollercoaster ride on which we find ourselves.

mourant.com 2021934/73079902/3 GUIDE Liquidating an insolvent Jersey company Last reviewed: February 2023 Contents When is a company insolvent? 2 Désastre proceedings under the Bankruptcy Law 2 Who may make an application?