On 11 November 2022, Mr Justice Kawaley ordered the first appointment of restructuring officers inRe Oriente Group Limited (FSD 231 of 2022) under the new Cayman Islands restructuring regime, with reserved written reasons to follow. On 15 November 2022, we provided a brief update on some of the key takeaways from the hearing, which can be found here.
As the Grand Court of the Cayman Islands reopens for 2023, it is a good time to reflect on what transpired in 2022. A review of the filings made in the Grand Court throughout 2022 shows a very significant number of cases concerning large-scale cross-border insolvency and restructuring proceedings, as well as various complex commercial disputes.
Statistics from the Grand Court
In October 2022, the Privy Council delivered its judgment in the Z Trust case of Equity Trust (Jersey) Ltd (Respondent) v Halabi (in his capacity as Executor of the Estate of the late Mdam Intisar Nouri) (Jersey)which was consolidated with ITG Ltd and others (Respondents) v Fort Trustees Ltd and another (Appellants) (Guernsey).The Privy Council considered the nature and scope of the right of a former trustee to recover from or be indemnified out of assets of an insolvent trust in respect of liabilities and other expenditures proper
Elizabeth McColm, Brian Bolin and Grace Hotz, Paul Weiss Rifkind Wharton & Garrison
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Stuart Cullen and Benjamin Drakes, Dentons LLP
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Fabio Guzmán-Saladín and Pamela Benzán Arbaje, Guzmán Ariza
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Renato G R Maggio, Renata Oliveira, Camilo T Gerosa Gomes and Karina Ferraz Deorio, Machado Meyyer Advoggados
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Diego Sierra and Jessika Rocha, Von Wobeser y Sierra, SC
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Richard J Cooper, Lisa M Schweitzer, Jessica A Metzger and Richard C Minott, Cleary Gottlieb Steen & Hamilton
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Peter Ferrer, Harneys
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary