Insolvency & Restructuring
Our lawyers frequently act for Cayman Islands insolvency practitioners who have been appointed as official liquidators or provisional liquidators by the Cayman Islands Court. We have advised on all aspects of the liquidation process, from dealing with creditors, to maximizing the estate by pursuing litigation in the Cayman Islands and overseas, to cross-border insolvency issues arising from the parallel appointments of fiduciaries in the Cayman Islands and overseas.
We also often help creditors of insolvent Cayman Islands companies seek their winding up by issuing a statutory demand followed by a winding up petition.
We have acted for many secured and unsecured creditors of Cayman Islands companies that have gone into liquidation. Our creditor clients include banks, hedge funds, pension funds, high net worth individuals and entrepreneurs. As we are generally conflict free, we are well placed to act on larger liquidations, where many of our competitors are conflicted.
We can help with submitting proofs of debt, obtaining information about the liquidation process, helping you decide whether to sit on the liquidation committee, and helping you understand the order of priority of claims in a Cayman liquidation, including the important distinction between a creditor and shareholder.
Our lawyers have also acted for the liquidation funding providers in two of the largest Cayman restructurings, Arcapita and Abraaj.
In addition to our work for Cayman Islands liquidators, we have also helped overseas office holders apply for recognition from the Cayman Islands Court in order to obtain relief in the Cayman Islands, including injunctive relief and disclosure of documents.