Regional news: Cayman Islands

Luxembourg fund recovers €1.3 million from “bankruptcy remote” Lehman company

A Luxembourg investment company has been allowed to redeem €1.3 million from a “bankruptcy remote” orphaned entity incorporated by Lehman Brothers in Ireland, after a decision by the England and Wales High Court.

06 April 2016

Fishing group appoints restructuring officer after deal ends Hong Kong and Cayman liquidations

Industrial fishing company China Fishery Group has appointed a new chief restructuring officer after reaching a deal with lenders to sell its Peruvian unit, bringing an end to liquidation proceedings in the Cayman Islands and Hong Kong.

08 March 2016

Bahamian court dismisses foreign liquidators’ petition in repeat of Baha Mar

The Bahamian Supreme Court has declined to recognise the Cayman Islands-based liquidation proceedings of a local bank as foreign main proceedings under common law, in a decision that takes a similar approach to last year’s Baha Mar.

19 February 2016

Hong Kong court rejects wind up in Cayman KPMG competence dispute

A Hong Kong court has dismissed a winding-up petition for a foreign company because it was already being liquidated in the Cayman Islands, rejecting the petitioner’s “entirely fanciful” allegations that Cayman-appointed liquidators KPMG would fail to deal with the matter speedily.

28 January 2016

Brazil’s Lupatech gets nod for second global group restructuring

Creditors of Brazilian oil logistics company Lupatech Group have agreed to the terms of the company’s new restructuring plan, its second in as many years.

16 December 2015

Appleby rehires funds partner in the Caymans

Offshore firm Appleby has rehired a partner in its Cayman Islands funds team.

16 December 2015

Vantage Drilling files 24 Chapter 11 cases with restructuring plan

Two dozen international subsidiaries of a Cayman Islands-based driller have filed for Chapter 11 protection, blaming the oil price collapse and links to scandalised Brazilian state oil company Petrobras for their woes.

11 December 2015

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