Cayman court rules on the test of insolvency for receivership of a segregated portfoilo of an SPC

The Grand Court in the Cayman Islands recently confirmed the appropriate insolvency test to be applied pursuant to section 224 of the Companies Act (2021 Revision) (“Companies Act”) in respect of a Cayman Islands segregated portfolio company (“SPC”), in a judgment delivered in respect of Obelisk Global Fund SPC (“Fund”) and Obelisk Global Focus Fund (“SP1”).

1. Segregated portfolio companies

Filed under:
Cayman Islands, Insolvency & Restructuring, Litigation, Loeb Smith Attorneys
Authors:
Elizabeth Kenny
Location:
Cayman Islands
Firm:
Loeb Smith Attorneys
Undertaking Voluntary Liquidations of Cayman Islands’ Entities prior to 31 December 2021.

Voluntary liquidations generally

Filed under:
Cayman Islands, Insolvency & Restructuring, Loeb Smith Attorneys, Cayman Islands Monetary Authority
Authors:
Gary Smith , Elizabeth Kenny , Vivian Huang , Yun Sheng , Santiago Carvajal , Faye Huang , Sandra Korybut
Location:
Cayman Islands
Firm:
Loeb Smith Attorneys