Offshore Special Report: Cayman Islands Modernises Insolvency Regime

Nigel K. Meeson Q.C., Stephen Leontsinis • Posted 06/05/2009 • Under Articles

On 1 March 2009, the Companies (Amendment) Law, 2007 came into effect. The highlights of the Amendment Law are:

-Clarification of existing law and practice; -Introduction of remedy for Fraudulent Trading; -Creation of a new "Oppression Remedy" for shareholders of companies registered in the Cayman Islands; -New provisions with regard to the Voluntary Winding Up of Companies; -Introduction of "International Co-operation" provisions; and -Introduction of new Insolvency Rules.

A version of this article was originally published in The Lawyer and can be found here.