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Results: 1-10 of 13

Enforcing orders made in foreign insolvency proceedings

  • Harney Westwood & Riegels
  • -
  • British Virgin Islands, Cayman Islands, United Kingdom
  • -
  • October 24 2012

This article sets out the potential impact in the BVI and Cayman of the much anticipated Supreme Court decision in Rubin v. Eurofinance SA 2012 UKSC 46, which was handed down on 24 October 2012

Zais Investment Grade Limited VII CDO noteholders take advantage of Chapter 11

  • Schulte Roth & Zabel LLP
  • -
  • Cayman Islands, USA
  • -
  • October 3 2011

The U.S. Bankruptcy Court for the District of New Jersey recently held that a Cayman Islands collateralized-debt obligation issuer (“CDO”) could be a debtor under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) and declined to dismiss an involuntary case commenced against the CDO by certain noteholders on the grounds that the notes held by such noteholders were “non-recourse” notes

Close-out netting and set-off provisions for BVI, Cayman Islands, Guernsey and Jersey counterparties

  • Ogier
  • -
  • British Virgin Islands, Cayman Islands, Guernsey, Jersey
  • -
  • September 22 2011

The Insolvency Act 2003 of the British Virgin Islands (the “IA”) provides that the netting of financial contracts is legally enforceable notwithstanding any provisions of the IA or the Insolvency Rules

Turkish delight: revocable trusts and settlors' creditors

  • Clifford Chance LLP
  • -
  • Cayman Islands
  • -
  • June 30 2011

If a settlor of a trust retains the power to revoke the trust, judgment creditors of the settlor may be able to enforce their judgments against the assets secreted in the trust

Culross Global SPC Ltd v Strategic Turnaround Master Partnership Ltd

  • Wong Partnership
  • -
  • Cayman Islands
  • -
  • February 25 2011

Where an investor in a fund incorporated in the Cayman Islands gave notice of redemption to the fund, held that it became a prospective creditor as soon as the notice was given and a creditor upon expiry of the redemption notice period notwithstanding that the fund had subsequently resolved to suspend redemptions

COMI: new developments for offshore liquidators

  • Ogier
  • -
  • Cayman Islands, USA
  • -
  • May 14 2010

National interests play a distinct part in the application of the UNCITRAL Model Law on Cross-Border Insolvency

Delaware Bankruptcy Court grants Chapter 15 protection over U.S. assets of Cayman Islands fund in liquidation

  • Schulte Roth & Zabel LLP
  • -
  • Cayman Islands, USA
  • -
  • January 26 2010

In a recent decision, the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) granted protection over the U.S. assets of a Cayman Islands exempted company in liquidation

Tasarruf Meduati Ssigorta Fonu v Merrill Lynch (Cayman) Limited and others

  • Ogier
  • -
  • Cayman Islands
  • -
  • September 30 2009

As a matter of English and Cayman law, does the court have jurisdiction to appoint a receiver, at the behest of a judgement creditor, by way of equitable execution over a settlor’s power of revocation of a trust?

Finding the centre: COMI in a multi-jurisdictional world

  • Harney Westwood & Riegels
  • -
  • British Virgin Islands, Cayman Islands, United Kingdom
  • -
  • September 30 2009

The facts behind Mr. Justice Lewison’s recent judgment in Stanford (STANFORD INTERNATIONAL BANK LIMITED 2009 EWHC 1441 (Ch)) have no direct connection with either the British Virgin or Cayman Islands but lawyers there do have particular reason to note the more general principles around the seemingly vexed but important issue of COMI in the context of multi-jurisdictional insolvency

Bear Stearns redux: ruling denying chapter 15 recognition to Cayman Islands hedge funds upheld on appeal

  • Jones Day
  • -
  • Cayman Islands, USA
  • -
  • August 1 2008

The failed bid of liquidators for two hedge funds affiliated with defunct investment firm Bear Stearns & Co., Inc., to obtain recognition of the funds’ Cayman Islands winding-up proceedings under chapter 15 of the Bankruptcy Code was featured prominently in business headlines during the late summer and fall of 2007

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