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ARTICLE · 19 JUNE 2023

Restructuring & Insolvency Comparative Guide

Carey Olsen
Carey Olsen
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Carey Olsen

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

Cayman IslandsInsolvency/Bankruptcy/Re-Structuring
Peter Sherwood
Peter Sherwood
Jenna Willis
Jenna Willis
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1 Legal framework

1.1 What domestic legislation governs restructuring and insolvency matters in your jurisdiction?

Restructuring and insolvency in the Cayman Islands is primarily governed by:

  • the Companies Act (2022 Revision);
  • the Companies Winding up Rules, 2018; and
  • with respect to exempted limited partnerships, the Exempted Limited Partnership Act (2021 Revision).

1.2 What international / cross-border instruments relating to restructuring and insolvency have effect in your jurisdiction?

The Cayman Islands has not enacted the UNCITRAL Model Law on Cross-Border Insolvency and is not a signatory to any international treaties relating to bankruptcy. It has enacted its own international cooperation legislation and also applies common law and comity principles in providing assistance to foreign insolvency proceedings.

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