The Cayman Islands Court of Appeal affirms liquidators’ clawback powers

When a fund fails, the disappointed investors’ sole hope of recompense often rests on the fund’s liquidators gathering in and distributing pari passu as many of the fund’s assets as possible. The judgment of the Cayman Islands Court of Appeal in Skandinaviska Enskilda Banken AB (Publ) v Simon Conway and David Walker (CICA 2 of 2016), delivered on 18 November 2016, clarifies aspects of the liquidators’ power to claw back certain types of redemption payments made shortly prior to liquidation.

Filed under:
Cayman Islands, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Carey Olsen, Liquidation, Liquidator (law), Court of Appeal of England & Wales
Authors:
Jan Golaszewski
Location:
Cayman Islands
Firm:
Carey Olsen
Implications of FATCA for Cayman Islands liquidators

WHAT IS FATCA?

Filed under:
Cayman Islands, USA, Insolvency & Restructuring, Private Client & Offshore Services, Tax, Carey Olsen, Withholding tax, Due diligence, Foreign Account Tax Compliance Act 2010 (USA), Internal Revenue Service (USA)
Authors:
Jarrod Farley , Michael Makridakis
Location:
Cayman Islands, USA
Firm:
Carey Olsen