In this case, the firm was instructed by the English liquidators of Arck LLP (in liquidation) to assist in the recovery of assets misappropriated from a large number of British investors and channelled through Jersey corporate and trust structures as part of a fraudulent collective investment scheme.

The British Virgin Islands ("BVI") is a long-standing jurisdiction of choice for incorporating joint venture and private equity vehicles. In more recent years it has also become an established option for investment funds. This is due to its business-friendly and flexible main corporate statute, the BVI Business Companies Act (the "Act"), as well as the BVI’s modern regulatory and judicial regime.

Plans and Schemes of Arrangement in the British Virgin Islands

This briefing note provides an outline of the different processes of voluntary and compulsory winding up under the Companies (Guernsey) Law, 2008 (as amended) (the “Law”). It does not cover striking off companies or the specific provisions on winding up of protected cell companies and incorporated cell companies. Further information on the effect of the Law on the winding up of these company structures can be found in our separate briefing notes on those subjects.

The mechanics of a voluntary winding up

1 / FEBRUARY 2017 | Cell Companies in Guernsey BRITISH VIRGIN ISLANDS CAYMAN ISLANDS GUERNSEY JERSEY CAPE TOWN HONG KONG LONDON SINGAPORE WWW.CAREYOLSEN.COM FEBRUARY 2017 INVESTMENT FUNDS & INSURANCE CELL COMPANIES IN GUERNSEY 2 / FEBRUARY 2017 | Cell Companies in Guernsey INTRODUCTION This note summarises Guernsey law relating to protected and incorporated cell companies. For more detailed information on protected cell companies and incorporated cell companies please see the separate briefing notes on each.

This briefing note describes the key features of the incorporated cell company (“ICC”) and summarises the formation, structure and liquidation procedures particular to this type of company.

Key features

The BVI Commercial Court (the Honourable Justice Davis-White QC [Ag]) has recently ordered the appointment of liquidators over Pacific Andes Enterprises (BVI) Limited, Parkmond Group Limited, and PARD Trade Limited (the “Companies”), three BVI incorporated companies forming a key part of the China Fishery Group.

The applications were unsuccessfully contested on the principal ground that the appointment of liquidators would irretrievably damage the prospects of a wider, global restructuring of the Pacific Andes Group.

This briefing note provides an outline of the different processes of voluntary winding up and striking off under the Companies (Guernsey) Law, 2008 (as amended) (the “Law”). It does not cover compulsory winding up or the specific provisions on winding up of protected cell companies and incorporated cell companies. Further information on the effect of the Law on the winding up of these company structures can be found in our separate briefing notes on those subjects.

Voluntary Winding Up

El Tribunal Supremo rechaza el ejercicio de las acciones rescisorias especiales del Derecho concursal contra una escisión de sociedades inscrita en el Registro Mercantil, y afirma que la protección de los acreedores debe realizarse por vía resarcitoria.

El Tribunal Constitucional confirma la constitucionalidad de las exigencias y requisitos legales para poder acceder al recurso de suplicación.

Este post trata de analizar el alcance la Sentencia del Tribunal Constitucional 173/2016, de 17 de octubre, así como de la de la doctrina del mismo órgano que la precede y que es sintetizada en la misma.

La sentencia de 10 de noviembre de 2016 de la sala cuarta del TJUE se ha pronunciado sobre los requisitos que deben reunir las prendas de cuenta corriente para quedar cubiertas por el régimen de garantías financieras de la Directiva 47/2002.

El TJUE ha respondido a las cuestiones prejudiciales elevadas por el Tribunal Supremo de Letonia sobre el ámbito de aplicación de la Directiva, después de que los órganos de primera instancia y de apelación letones desestimaran la demanda interpuesta por una compañía letona frente a una entidad financiera.