Recognition of Foreign Compromises and Facilitating their Effectiveness

The Grand Court of the Cayman Islands (the “Grand Court”) has long adopted a uniquely flexible, pragmatic and cooperative approach in cross-border insolvency matters. Recognising the considerable degree of cross-border co-operation in respect of insolvency matters in the Cayman Islands, the law and judicial practice were codified pursuant to certain wholesale amendments to the Companies Law in 2007 (“Companies Law”). Part XVII of the Companies Law deals with international cooperation with respect to foreign bankruptcy proceedings.

 

This article was first published in South Square Digest, March 2016.

 

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CAYMAN ISLANDS
Barnaby GowriePartnerT +1 345 914 6365barnaby.gowrie@walkersglobal.com
Brett BasdeoSenior CounselT +1 345 814 4616brett.basdeo@walkersglobal.com

DUBAI
Barnaby GowriePartnerT +1 345 914 6365barnaby.gowrie@walkersglobal.com