Luke Petith

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Cayman Islands Schemes of Arrangement now available for Exempted Limited Partnerships using the Restructuring Officer Regime

A Cayman Islands scheme of arrangement is a court approved compromise or arrangement between a company and its creditors or shareholders (or classes thereof). A scheme of arrangement is frequently used to implement a...more

3/25/2024 / British Virgin Islands , Cayman Islands , Companies Act , Creditors , Debt Restructuring , Dispute Resolution , Insolvency , Limited Partnerships , Shareholders

A Little More Time: The BVI Court Clarifies When and How It Will Exercise Its Discretion to Adjourn an Application to Appoint...

Emerging from the COVID-19 pandemic, inflationary pressures and increasing interest rates have continued to have a negative impact on the global economy. This has caused a significant increase in the number of creditor...more

11/9/2023 / British Virgin Islands , Creditors , Debt , Interest Rates , Judicial Appointments , Liquidation , Price Inflation , Shareholders

BVI insolvency proceedings - top creditor FAQs for 2023

As 2023 gets into its stride and with the financial markets forecasting severe economic challenges in 2023, we are seeing an increasing number of enquiries from creditors with respect to debts owed by BVI incorporated...more

3/28/2023 / Arbitration , BVI Business Companies , Creditors , Debt , Insolvency

Insolvent trusts: pari passu indemnification of successive trustees & the importance of creditor expectations – A view from the...

Introduction - The Judicial Committee of the Privy Council has handed down its long-awaited judgment in the joined cases of Equity Trust (Jersey) Ltd v Halabi and ITG Ltd and others v Fort Trustees Ltd, each focusing on...more

11/8/2022 / British Virgin Islands , Cayman Islands , Channel Islands , Creditors , Indemnification , Insolvency , Trustees , Trusts , UK Privy Council

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