Már Magyarországon is elindítható a szerkezetátalakítási eljárás, amelynek célja az életképes vállalkozások nehézségeinek kezelése és a fizetésképtelenség megelőzése. A DLA Piper Hungary szakmai eseményén jogi és gazdasági oldalról egyaránt megvilágították a szakértők az új eljárás részleteit és előnyeit, valamint arra is kitértek, hogy a megváltozott külső körülmények milyen iparági szereplőket állítottak igazán komoly kihívások elé.
The United Kingdom Supreme Court (the “UKSC”) recently delivered its eagerly anticipated judgment in BTI 2014 LLC v Sequana SA and others[2022 UKSC 25] (“Sequana”). The reasoning in Sequanawill be highly persuasive in the Cayman Islands, as well as other common law jurisdictions.
Sequana is a helpful decision for at least the following reasons:
Company insolvencies in England and Wales are at their highest quarterly level since 2009, according to a report released by the Office for National Statistics (ONS) last week.
60 second speed read:
On 5 October 2022 the UK Supreme Court (UKSC) handed down its “momentous” decision in BTI 2014 LLC v Sequana SA and others1. The case addresses issues of ‘‘considerable practical importance to the management of companies’’, in particular directors’ duties during insolvency or the onset of insolvency.
Introduction
Cayman Islands companies have dominated the restructuring news cycle of late for a variety of reasons, including recent judicial commentary as to the effect of obtaining recognition under Chapter 15 of the U.S. Bankruptcy Code.
When a private company wishes to cease its operation in Hong Kong, this is the most common question we are asked: should we deregister the entity or liquidate the entity?
Deregistration
The deregistration procedure is applicable to most companies (subject to certain exceptions) which have not been in operation during the preceding three months.
On Friday, 29 July the Minister for Enterprise, Trade and Employment signed into law the European Union (Preventive Restructuring) Regulations 2022 (the Regulations).
Conyers partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative landscape for prudent directors – particularly in light of current macro-economic conditions and the difficulties many companies are facing.
A much-anticipated corporate restructuring regime will be enacted in the Cayman Islands later this year through amendments to Part V of the Cayman Islands Companies Act.