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ARTICLE · 23 DECEMBER 2021

GRR Americas Restructuring Review 2022

Campbells
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The first part of this chapter looks at the key aspects of the successful Cayman Islands restructuring regime, including the use of provisional liquidators to protect the debtor...

GlobalInsolvency/Bankruptcy/Re-Structuring
Mark Goodman
Mark Goodman
Paul Kennedy
Paul Kennedy
Guy Cowan
Guy Cowan
Katie Logan
Katie Logan
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IN SUMMARY

The first part of this chapter looks at the key aspects of the successful Cayman Islands restructuring regime, including the use of provisional liquidators to protect the debtor from its creditors while it formulates and presents a compromise or arrangement to its creditors. The second part considers the requirements for seeking the appointment of provisional liquidators in an asset protection role in cases of fraud, as reaformed by the Grand Court in two recent decisions.

DISCUSSION POINTS

  • Restructuring
  • Schemes of arrangement
  • Provisional liquidation
  • Statutory moratorium
  • Creditors' meetings
  • COMI shift
  • The rule in Gibbs

REFERENCED IN THIS ARTICLE

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