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Litigation and Restructuring

We provide advice and assistance on complex general commercial litigation including the enforcement of foreign judgments, tracing claims, banking litigation, claims in conversion, injunctions including mareva injunctions contractual disputes, shareholder disputes, professional negligence claims and judicial review proceedings (i.e. proceedings involving the review of government or administrative decisions). Our lawyers have extensive experience appearing in complex matters before the Grand Court (High Court) of the Cayman Islands, the Cayman Islands Court of Appeal and the Privy Council in London which is the final court of appeal in relation to commercial disputes arising in the Cayman Islands.

 

In recent years there have been a large number of high profile bankruptcies / insolvencies of Cayman Islands companies. These have sometimes resulted in the restructuring of the entities concerned through the appointment of provisional liquidators and the approval of schemes of arrangement by creditors and the Grand Court of the Cayman Islands.

 

Areas of Expertise

 

We have been involved in a large number of insolvencies / restructurings in the Cayman Islands including the following high-profile cases:

 

  • Finsbury Bank and Trust Company Limited – (Bank Liquidation)
  • Guardian Bank and Trust Company (Cayman) Limited – (Bank and Trust Company Liquidation)
  • Transnational Insurance Company Limited – (Insurance Company Liquidation)
  • Fidelity and Guarantee International Limited – (Insurance Company Liquidation)
  • The High Risk Opportunity HUB Fund Limited – (Hedge Fund Liquidation)
  • Prospect Properties Limited – (Property Company Liquidation)
  • Banco Economico S.A./Transnational Bank Limited – (Bank Liquidations)
  • Omni Securities Limited – (Investment Company Liquidation)
  • IG Services Limited – (Investment Company Liquidation)
  • Parmalat Capital Finance Limited – (Investment Company Liquidation)
  • Architects of Wine Limited – (Trading Company Liquidation)
  • Beacon Hill Master Fund Ltd./Bristol Fund Ltd. – (Hedge Fund Group of Companies Liquidation)
  • Indies Suites Ltd – (Time Share Company Liquidation)
  • National Warranty Insurance Risk Retention Group – (Risk Retention Company liquidation)
  • SPhinX Group – (Hedge Fund Group of Companies Liquidation)
  • Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage (Overseas) Ltd. and Bear Stearns High Grade Structured Credit Strategies (Overseas) Ltd. – (Hedge Fund Group of Companies Liquidation)
  • Peloton ABS Master Fund – (Investment Company Liquidation)
  • Trans Pacific Insurance Corporation – (In Official Liquidation)
  • Grand Island Funds – (Group of Investment Companies Liquidations)

 

We regularly advise shareholders, directors and creditors of their rights in relation to troubled companies and groups of companies where there has not been a formal insolvency process. In addition to acting for liquidators, liquidation committees and creditors of insolvent companies,

 

We have also been involved in several restructurings of Cayman Islands companies. We are fully familiar and experienced in advising creditors and provisional liquidators on the procedures to be adopted in Cayman Islands Schemes of Arrangement. We also have experience drafting Cayman Island Schemes of Arrangement for approval by creditor groups and the Grand Court of the Cayman Islands. We have wide experience drafting Protocols in relation to cross border insolvencies in particular in relation to US issues.

 

We also regularly advise receivers and managers and controllers of Cayman companies. The Cayman Islands Monetary Authority has power to appoint receivers and managers or controllers of various regulated entities in the Cayman Islands.


related services


Capital Markets and Structured Finance

The Cayman Islands have long been the destination of choice for many of the world's most prestigious financial institutions who seek a high quality of service and advice from service providers based in a mature offshore jurisdiction. Cayman is a preferred offshore jurisdiction for structured finance and capital markets transactions. This is a result of the many advantages of structuring such transactions under Cayman Islands law as described below.

Trusts

We provide advice on all trusts and fiduciary matters with specialisation in establishing private, commercial, charitable and non-charitable purpose trust structures, including setting up private trust companies; ongoing advice to trustees, settlors, beneficiaries, protectors and other fiduciaries; effecting required changes over the life of trusts; and advice and litigation in contentious trust matters.