Chambers Insolvency 2019 Second Edition Guide: Cayman Islands

The scheme of arrangement as proposed by the company sought to, in summary ..

The article explores key trends in the offshore markets, how insolvency practitioners are leveraging technology to enhance recoveries, challenges for creditors in offshore...

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.

The Court of Appeal in Re PetroSaudi International has settled a long-standing debate by confirming that Cayman Islands courts have jurisdiction to order just and equitable winding up where there is a need for investigation into a company's affairs. This landmark appellate decision establishes clear parameters for when the investigative ground can be invoked, requiring proper standing and evidence that unsecured creditors would benefit.

In its recent judgment Re New Ruipeng Pet Group Inc [2026] CIGC (FSD) 21, the Grand Court has provided helpful and welcome guidance on the factors...

Restructuring & Insolvency Comparative Guide for the jurisdiction of Cayman Islands, check out our comparative guides section to compare across multiple countries

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?

Where a company's liquidation is necessary, deciding who or where is best placed to administer an orderly wind down for the benefit of creditors can be difficult: the shortfall...

An order issued by the U.S. Supreme Court this morning denied Farnum Place, LLC's petition for certiorari.

In a recent case before the Grand Court of the Cayman Islands, Walkers successfully acted for the Joint Official Liquidators of China Branding Group Limited (in Official Liquidation) (the "JOLs") in respect of a creditor's appeal against the JOLs' partial rejection of his proof of debt claim.

Pursuant to the BVI Business Companies (Financial Return) Order, 2023 (the "Order") (available here), every BVI company is required to file with its registered agent an annual financial return...

In the recent judgment of Tianrui (International) Holding Company Ltd (Appellant) v China Shanshui Cement Group Ltd (Respondent), delivered on 14 November 2024...

In April 2023, the Cayman Islands Monetary Authority ("CIMA") issued a new Statement of Guidance on Corporate Governance for Mutual Funds and Private Funds ("SOG") and Rule...

Restructuring & Insolvency Comparative Guide for the jurisdiction of Cayman Islands, check out our comparative guides section to compare across multiple countries

Effective 1 January 2026, amendments to the Companies Act will come into force, further enhancing Cayman's competitive edge as an international financial services market.

The British Virgin Islands ("BVI") continues to strengthen its financial services sector by aligning with international standards, including those set by the Financial Action Task Force (FATF).

Following our client advisory issued on 11 January 2023 and available here, the BVI Virtual Assets Service Providers Act, 2022 will come into force on 1 February 2023.

The Economic Substance (Companies and Limited Partnerships) Act, 2018 (the "Act") was passed on 1 January 2019, introducing economic substance requirements...

The Cayman Islands Court of Appeal ("CICA") has delivered important and clarifying guidance on the admissibility and ranking of shareholder misrepresentation claims in Cayman Islands liquidations...

Following our September 2022 client advisory, the BVI Virtual Assets Service Providers Act, 2022 was enacted on 29 December 2022.