Cayman Islands: Insolvency/Bankruptcy/Re-Structuring

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Article
Not A Rubber Stamp: Recent Lessons On Liquidators’ Powers In Cayman And Hong Kong
The Cayman and Hong Kong courts have delivered parallel rulings in Re Ourgame International Holdings Limited that fundamentally reshape how liquidators must approach applications for powers and cross-border recognition. These decisions establish that courts will scrutinize each requested power individually, requiring specific justification and evidence rather than granting blanket authority. What does this mean for practitioners seeking to make Cayman liquidations effective across multiple jurisdictions?
Worldwide Insolvency
C
Conyers
Article
Cayman Islands Liquidations: Jurisdiction, Liquidator Independence And The Role Of Officeholders
Recent Cayman Islands court decisions have reshaped the landscape for fund liquidations, clarifying competing routes to winding up, the independence test for appointed liquidators, and the jurisdictional implications of filing proofs of debt. These rulings establish important boundaries around officeholder powers while balancing efficiency against proper judicial oversight.
Cayman Islands Insolvency
C
Conyers
Article
Restructurings Frustrating Creditors And The Enforcement Of Arbitral Awards: The English Court's Decision In State Oil Company Of Azerbaijan V Mansimov Abstract
A High Court ruling examines the cross-border application of section 423 of the Insolvency Act 1986 in enforcing English arbitration awards, while establishing critical boundaries for the Marex tort in asset recovery disputes. The decision addresses whether offshore restructurings undertaken before arbitral awards can be challenged under English law when assets are allegedly moved to frustrate enforcement.
Cayman Islands Insolvency
A
Appleby
Article
Contingent Creditors, Standing And The Winding Up Jurisdiction: Analysing Re Petrosaudi International
The Cayman Islands Court of Appeal has delivered a landmark ruling clarifying the threshold requirements for creditor standing in winding-up petitions, fundamentally reshaping the landscape for contingent creditors seeking to invoke compulsory liquidation proceedings. In a comprehensive judgment arising from the PetroSaudi International case, the Court overruled previous authorities and established that mere allegations of wrongdoing—however substantial—cannot confer standing without an existing
Cayman Islands Insolvency
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Appleby
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Restructuring & Insolvency

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Article
Restructurings Frustrating Creditors And The Enforcement Of Arbitral Awards: The English Court's Decision In State Oil Company Of Azerbaijan V Mansimov Abstract
A High Court ruling examines the cross-border application of section 423 of the Insolvency Act 1986 in enforcing English arbitration awards, while establishing critical boundaries for the Marex tort in asset recovery disputes. The decision addresses whether offshore restructurings undertaken before arbitral awards can be challenged under English law when assets are allegedly moved to frustrate enforcement.
Cayman Islands Insolvency
A
Appleby
See more

Insolvency/Bankruptcy

Article
Not A Rubber Stamp: Recent Lessons On Liquidators’ Powers In Cayman And Hong Kong
The Cayman and Hong Kong courts have delivered parallel rulings in Re Ourgame International Holdings Limited that fundamentally reshape how liquidators must approach applications for powers and cross-border recognition. These decisions establish that courts will scrutinize each requested power individually, requiring specific justification and evidence rather than granting blanket authority. What does this mean for practitioners seeking to make Cayman liquidations effective across multiple jurisdictions?
Worldwide Insolvency
C
Conyers
Article
Cayman Islands Liquidations: Jurisdiction, Liquidator Independence And The Role Of Officeholders
Recent Cayman Islands court decisions have reshaped the landscape for fund liquidations, clarifying competing routes to winding up, the independence test for appointed liquidators, and the jurisdictional implications of filing proofs of debt. These rulings establish important boundaries around officeholder powers while balancing efficiency against proper judicial oversight.
Cayman Islands Insolvency
C
Conyers
See more

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