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Winding-Up Petition Struck Out, Joint Provisional Liquidators Discharged in Bermuda

On 15 May 2024, the Bermuda Court granted an order striking out a winding-up petition (the “Petition”), setting aside an earlier order appointing joint provisional liquidators (“JPLs”), and discharging the JPLs appointed over...more

The Effect of Subordination Agreements in the Event of Insolvency

Is it possible for a debtor company to issue debt (such as bonds) and contractually agree for that debt to rank lower in priority than debts owed by a company to other unsecured creditors? This article examines the commercial...more

Successful Restoration of a Voluntarily Dissolved BVI Co as a Company in Liquidation

On 5 February 2024, the Honourable Justice Paul Webster granted a restoration order (the “Order”) pursuant to section 218A of the BVI Business Companies Act (Revised Edition 2020) (as amended) (the “Act”), declaring the...more

Successfully Secures Dismissal of Application to Set Aside a Statutory Demand in the British Virgin Islands

On 8 February 2024, the Honourable Mr Justice Paul Webster KC dismissed an application to set aside a statutory demand served on Angola Group Holdings Limited (the “Company”) by Bai Jun Tian Cheng Limited (“Bai Jun”). Conyers...more

Receivership Order for Cayman Islands Segregated Portfolio Fund Secured in 3 Months

Feb 2024 On 12 January 2024, the Honourable Mr Justice Kawaley granted an order for the appointment of receivers pursuant to Section 224 of the Companies Act (2023 Revision) (the “Act”), over the Premier Life Settlement Fund...more

Winding-Up Order Obtained Against Cayman Islands Fund Investment Manager Within 3 Months

The Honourable Mr Justice Kawaley granted a winding up order against Airstream Investment Ltd (the “Company”), an exempted company incorporated under the laws of the Cayman Islands. Conyers acted for the successful...more

Locality of a Debt

For businesses that are family-owned and run in jurisdictions such as Hong Kong, Mainland China and Taiwan, it is common for beneficial ownership and control of the business enterprise to be vested in the shareholders of a...more

Directors' Duties: The Next Chapter

As directors around the world grapple with difficult and uncertain times arising from various macro-economic factors, these decisions provide useful and timely guidance on the approach that directors should take to protect...more

Important Takeaways for Bondholders: Do They Have Rights as Contingent Creditors?

The Cayman Islands Grand Court recently delivered its judgment in Re Shinsun Holdings (Group) Co., Ltd. FSD 192 of 2022 (DDJ) (21 April 2023) (unreported) (the “Shinsun Judgment”) in which the court determined the ultimate...more

BVI: In the Matter of the Estate of Sheikh Saoud Mohamed Al Thani – BVIHCVAP 2021 / 0001

Offshore Trust and Estate Litigation Update Series – Part II - Following on from Part I of this series which summarised the Cayman Court’s consideration of a trustee’s application for the “blessing” of a “momentous...more

Cayman Islands: In the Matter of The X Trust and The Y Trust – FSD 57 of 2022 (IKJ)

Offshore Trust and Estate Litigation Update Series – Part I - Trust and estate disputes in both the Cayman Islands and the BVI, and claims against the actions of a trustee/executor or disputes related to an interested...more

Estate Administration in the British Virgin Islands: the Relevant Factors for the Removal of an Administrator or Executor

The holding company of many corporate groups trading in Asia is frequently incorporated in an offshore financial centre such as the British Virgin Islands (“BVI”). It is therefore common for high-net-worth individuals...more

Guidance For Trustees Dealing With Insolvent Trusts: The Z Trust Cases

In October 2022, the Privy Council delivered its judgment in the Z Trust case of Equity Trust (Jersey) Ltd (Respondent) v Halabi (in his capacity as Executor of the Estate of the late Mdam Intisar Nouri) (Jersey) which was...more

Estate in the BVI and other Offshore Jurisdictions: Your Family Business

Many high-net-worth individuals have used companies incorporated in offshore financial centres, such as the British Virgin Islands (“BVI”) to hold their assets and business. When they plan their estate or distribute the...more

Directors’ Duties on the Precipice of Insolvency: Brief Overview of BTI 2014 LLC v Sequana SA

The United Kingdom Supreme Court (the “UKSC”) recently delivered its eagerly anticipated judgment in BTI 2014 LLC v Sequana SA and others [2022 UKSC 25] (“Sequana”). The reasoning in Sequana will be highly persuasive in the...more

Cayman Enforcement of Foreign Arbitral Awards: The Pro-Enforcement Objective and Purpose of the Law

In the recent judgment of Gol Linhas Aereas SA (formerly VRG Linhas Aereas SA) (Respondent) v MatlinPatterson Global Opportunities Partners (Cayman) II LP and others (Appellants) [2022] UKPC 21, the Privy Council upheld the...more

Cayman Islands Restructuring: Recent Common Law Insights for Directors when Entering the Zone of Insolvency

Conyers partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative...more

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