Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 19 APRIL 2024

Expert Insights: Latest Offshore Insolvency Trends

Baker & Partners LLP
Baker & Partners LLP
Contributor
Baker & Partners LLP

Baker & Partners LLP

The Cayman Islands office was opened in late 2020 with Robert Jones as the sole attorney. The...

View firm profile
Explore more from Baker & Partners LLP

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

GlobalInsolvency/Bankruptcy/Re-Structuring
Shula Sbarro
Shula Sbarro
Author LinkedIn connections

The Burford Quarterly, Issue 2, 2024

The article explores key trends in the offshore markets, how insolvency practitioners are leveraging technology to enhance recoveries, challenges for creditors in offshore markets and the role of legal finance, the use of experts as well as Cayman and BVI specific trends and developments.

With global insolvency rates on the rise, what key trends are you seeing in offshore markets?

Nicola Cowan: One of the biggest developments is the growing global real estate crisis, especially in China. The ordering by the Hong Kong court of the liquidation of the China Evergrande group demonstrates the uncertainty of Chinese real estate recovery. This real estate crisis has also led to an increase in the use of Cayman schemes of arrangements with parallel schemes in other jurisdictions such as Hong Kong and the British Virgin Islands.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Cayman Islands Liquidations: Jurisdiction, Liquidator Independence And The Role Of Officeholders

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.
Cayman IslandsInsolvency/Bankruptcy/Re-Structuring
Conyers
Conyers
Article

Cayman Islands Litigation: Wiser Heads Have Spoken – Appellate Confirmation Of The Investigative Ground

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.
Cayman IslandsInsolvency/Bankruptcy/Re-Structuring
Conyers
Conyers
Article

Not A Rubber Stamp: Recent Lessons On Liquidators’ Powers In Cayman And Hong Kong

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?
GlobalInsolvency/Bankruptcy/Re-Structuring
Conyers
Conyers
Article

Heavyweight Insolvency Silk Joins FSD Bench

A leading insolvency and restructuring silk with decades of experience in landmark cases including Thames Water, Lehman Brothers, and BCCI has been appointed to the Cayman Islands Financial Services Division bench. His extensive cross-border expertise and familiarity with both Cayman and Hong Kong courts positions him to handle complex international insolvency matters as the jurisdiction prepares to introduce new restructuring legislation.
Cayman IslandsInsolvency/Bankruptcy/Re-Structuring
Appleby
Appleby
Article

Contingent Creditors, Standing And The Winding Up Jurisdiction: Analysing Re Petrosaudi International

The Cayman Islands Court of Appeal has delivered a landmark ruling clarifying the threshold requirements for creditor standing in winding-up petitions, fundamentally reshaping the landscape for contingent creditors seeking to invoke compulsory liquidation proceedings. In a comprehensive judgment arising from the PetroSaudi International case, the Court overruled previous authorities and established that mere allegations of wrongdoing—however substantial—cannot confer standing without an existing
Cayman IslandsInsolvency/Bankruptcy/Re-Structuring
Appleby
Appleby
Article

Shareholder Disputes In The Jersey Courts

Jersey's position as a leading jurisdiction for cross-border corporate structures means shareholder disputes are increasingly litigated in its courts. With the island set to see significant growth in special purpose vehicle usage, understanding the remedies available under Jersey law—from unfair prejudice actions to derivative claims—and how recent developments like the abolition of the shareholder rule are reshaping the litigation landscape has never been more critical for investors and corpora
JerseyCorporate/Commercial Law
Baker & Partners LLP
Baker & Partners LLP