Walkers Advises Global Indemnity Group in Redomestication

Walkers is pleased to have acted as Cayman Islands counsel to the Global Indemnity group in relation to Global Indemnity Limited's ("GI Cayman") redomestication, by way of a Cayman Islands scheme of arrangement and amalgamation, from the Cayman Islands to the United States of America, resulting in Global Indemnity Group, LLC ("GI Delaware") becoming the ultimate parent company of the Global Indemnity group.

The redomestication was approved by shareholders of GI Cayman at a special scheme meeting held on 25 August 2020 and was sanctioned by Order of the Grand Court of the Cayman Islands on 26 August 2020. The Scheme became effective in accordance with its terms at 11.01 pm (Cayman Islands time) on 27 August 2020, as a result of which the former shareholders of GI Cayman are now the shareholders of GI Delaware. The Class A Common Shares of GI Delaware, issued following the cancellation of the ordinary shares of GI Cayman pursuant to the Scheme, have been admitted to the NASDAQ global market and will trade under the stock ticker symbol “GBLI”.

The redomestication and related transactions simplify and streamline the Global Indemnity group’s organisational, statutory and regulatory structure and are expected to result in inter-company efficiencies and long-term administrative cost savings.

Walkers was led by Cayman Islands partners Rolf Lindsay and Neil Lupton with senior counsel Fiona MacAdam and associates Siobhan Sheridan and Nikhil Jha also acting on the matter.

Walkers was instructed by Skadden, Arps, Slate, Meagher & Flom LLP.