ARTICLE · 07 JULY 2017

Restructuring & Insolvency

Walkers

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Firm Details Global Managing Partner: Ingrid Pierce Office Managing Partner: Daniel Wood Number of...

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Partner Neil Lupton has worked with The In-House Lawyer Magazine to create a country-specific online Q&A that provides an overview of the legal framework and key issues surrounding restructuring...

Cayman IslandsInsolvency/Bankruptcy/Re-Structuring

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1. What forms of security can be granted over immovable and movable property? What formalities are required and what is the impact if such formalities are not complied with?

The following security rights may be granted over immovable and movable property in the Cayman Islands:

Mortgage. A mortgage arises when a creditor lends money at interest in exchange for a transfer of an interest in the debtor's property. The conveyance of title will become void upon the payment of the debt. An equitable mortgage will be created where the property subject to the mortgage is not transferred to the lender. An equitable mortgage is capable of being defeated by a third party buyer with no notice of the lender's interest.

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