With the Cayman Islands being a preferred jurisdiction for the incorporation of investment vehicles, inevitably cases will arise where non-controlling shareholders complain that they are being unfairly prejudiced by conduct of those in control, and necessarily pursue those complaints by way of proceedings to wind up the subject company on the just and equitable ground.
In its recent judgment in Re Atlas Capital Markets LLC [2026] CIGC (FSD) 19, the Grand Court considered itself bound to make a supervision order pursuant to s.131(b) of the Companies Act, notwithstanding that the company was the subject of a pending just and equitable winding up (J&E) petition when its voluntary liquidation was commenced; and rejected an attack on the joint voluntary liquidators’ (JVLs) independence, which was principally based on a misreading of the JVLs’ evidence and lacked any objective foundation.
Winding-Up Petitions in the BVI - A Practical Guide For Creditors
The Judicial Committee of the Privy Council in CL Financial Ltd (in Liquidation)[1] has provided helpful guidance on applications for approving liquidators’ remuneration.
This article discusses the defining features of Bermuda’s insolvency landscape and the primary insolvency and rescue procedures available under Bermuda law, including compulsory liquidations, provisional liquidations and schemes of arrangements. The case of Chishti v Afiniti Ltd is presented as a recent example of a company successfully availing itself of a restructuring plan through the use of ‘light touch’ provisional liquidation.
The structured finance market in the APAC region continues to grow in recent years, particular in the number of new issuances and the use of different financial products in complex structuring. Cayman special purpose vehicles (SPVs) are one of the most utilised offshore vehicles in the Asian structured finance industry, which is well supported by established legal and regulatory regimes.
Published on 21 January 2025, In the matter of Restore Builders Limited [2024] JRC290 (“Restore Builders”), is the first time the Royal Court of Jersey (“Court”) has made a wrongful trading order.
As discussed below, the Court held that Thomas McLaughlin (“Respondent”) be disqualified as a company director for 10 years, and be personally responsible for the debts of Restore Builders Limited (“Company”).
The legislative framework applicable to insolvency and restructuring in Jersey has seen significant developments in recent years, with the introduction of the Companies Regulations No 8 2022 (the Regulations).
The Regulations provide additional powers to a company’s creditors – firstly, in relation to provisional liquidations (an emergency procedure designed to safeguard the assets of a failing company), and secondly in relation to creditors’ winding-ups.