(Cayman) Setting Aside a Charge upon Insolvency

The Companies Law (2018 Revision) (the "Companies Law") applies only to companies formed and registered under the Companies Law (see s2 Companies Law for a definition of "company" and In the Matter of Dyoll Insurance Company Ltd, unreported judgment of the Grand Court, 9 May 2005). Accordingly, only those companies may be wound up in the Cayman Islands. There is no provision akin to Part V of the UK Insolvency Act 1986 (UK) under which the English court can wind up unregistered or foreign companies.


The Cayman winding up regimes are found in Part V of the Companies Law.

There are three regimes:

  1. voluntary winding up;
  2. compulsory winding up; and
  3. voluntary winding up subject to Grand Court supervision.

 

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CAYMAN ISLANDS
Neil LuptonPartnerT +1 345 914 4286neil.lupton@walkersglobal.com

JERSEY
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LONDON
John O'DriscollPartnerT +44 (0)20 7220 4987john.o'driscoll@walkersglobal.com