New provisions to provide the Cayman Islands with a comprehensive, flexible, self-contained, creditor friendly regime for corpo­rate liquidation and cross-border co-operation have just come into force.
The provisions of the Companies (Amendment) Law 2007 of the Cayman Islands came into full force on 1st March 2009, following the formulation of the new Companies Winding Up Rules 2008, and Insolvency Practitioners Regulations 2008. That law repeals the entirety of the current Part V of the Companies Law (2007 Revision), which covers winding up by the Court, voluntary winding up, winding up subject to the supervision of the Court, and various ancillary provisions. It also substitutes new provisions implementing wide ranging and detailed changes, and adds much needed clarification of th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
