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2020 was a crippling year for the aviation industry. With daily cash burn running into the tens of millions of dollars for many airlines, access to liquidity has been critical as treasury teams

Further to our advisory issued in August 2016, a recent judgment of the Judicial Committee of the Privy Council, the ultimate appellate court of the Cayman Islands, ...

On August 31, 2022, significant amendments to Part V of the Cayman Islands Companies Act ("Act") took effect to revamp the Cayman Islands restructuring regime.

When a fund fails, the disappointed investors' sole hope of recompense often rests on the fund's liquidators gathering in and distributing pari passu as many of the fund's assets as possible.

IF there was any uncertainty that the Cayman Islands is a top jurisdiction of choice for complex litigation and restructuring matters, two cases in 2017 prove ...

In a decision that will reassure investors in Cayman Islands investment funds and other vehicles, the Grand Court has shown its willingness to facilitate the investigation of legitimate concerns raised...

The Grand Court of the Cayman Islands dismissed a US$26 million winding-up petition in a landmark case involving complex cross-border financing and disputed foreign law claims. The decision provides crucial guidance on when courts will refuse to wind up companies where debts are genuinely disputed on substantial grounds, particularly in cases involving foreign law interpretation and expert evidence.

Herald Fund SPC (Herald) was one of the larger Madoff feeder funds and made headlines recently when it settled the competing claims between it and Irving Picard (the Trustee in Bankruptcy of the Madoff estate).

The purely contractual arrangement of a CSP means that the segregation of assets and/or liabilities of different series of interests arises solely pursuant to the terms...

We appreciate that these are challenging times and that the need for cross-border advice on insolvency and restructuring matters may be required at short notice.

The Cayman Islands' Privy Council in a consolidated decision of two unconnected Court of Appeal cases from Jersey and Guernsey, clarified the method of dealing with a trust which has insufficient assets to...

Insolvency law in the Cayman Islands is principally regulated by the Companies Act and the Companies Winding Up Rules, and they are supplemented by a wide body of case law.

The Cayman Islands is an overseas territory of the United Kingdom and the legal system is an English-style common law system, which comprises statute law and binding case precedents.

The decision earlier this year of Mr Justice Jones in the Financial Services Division of the Cayman Islands gave a broad interpretation of the assistance that may be available to a foreign insolvency representative at common law.

The Cayman Court provides further clarification as to when redemption payments can be recovered as a voidable preference.

With the quote set out above, Mr Justice Harris, the Companies Court judge of the Hong Kong High Court, Court of First Instance, shone a spotlight yet again on a vexing issue that has persisted...

In August 2015 the Cayman Islands Grand Court struck out as an abuse of the process of the Court a winding up petition presented in contravention of Section 95(2) of the Companies Law (2013 Revision) (Law).

While standard governance principles continue to apply (and should be followed) throughout the lifetime of a fund, the board of directors must be prepared to adapt governance practices and, for example