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ARTICLE · 27 JANUARY 2022

Cayman Islands Restructuring: No Place Like Home

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Silver Base is the Cayman Islands-incorporated holding company for a large group specialising in liquor distribution. The Silver Base Group focuses on the sale of premium baijiu (or shaojiu), ...

Cayman IslandsInsolvency/Bankruptcy/Re-Structuring
Norman Hau
Norman Hau
Jonathon Milne
Jonathon Milne
Róisín Liddy-Murphy
Róisín Liddy-Murphy
Jasamine Yung
Jasamine Yung
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Conyers were instructed by Silver Base Group Holdings Limited ("Silver Base") in relation to a successful application for the appointment of "light-touch" provisional liquidators for restructuring purposes before the Grand Court of the Cayman Islands.

In an important judgment delivered on 8 December 2021, Mr. Justice Doyle emphasised the importance of the laws of the place of incorporation of the relevant company in a restructuring and/or insolvency context. A link to the judgment is here.

Background

Silver Base is the Cayman Islands-incorporated holding company for a large group specialising in liquor distribution. The Silver Base Group focuses on the sale of premium baijiu (or shaojiu), which is the world's bestselling liquor. The vast majority of the Group's revenue is generated in the People's Republic of China (the "PRC"). The profitability of the Silver Base Group, which has operated since 1997, has been severely impacted by the global pandemic.

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