Jordan McErlean

2 months ago | mondaq.com | Erik Bodden |Norman Hau |Alecia Johns |Jordan McErlean

On August 31, 2022, Part V of the Cayman IslandsCompanies Act (the "Companies Act") was amended tointroduce the new role of a court-appointed "RestructuringOfficer" and a dedicated "Restructuring Petition"(the "RO Regime"). The RO Regime was largely intended toreplace the pre-existing restructuring framework by way of'light touch' provisional liquidation (the "PLRegime"). The pre-existing PL Regime for restructuring wasreplaced with a broad and flexible discretionary test.

Feb 22, 2024 | businesslawtoday.org | Alex Davies |Spencer Vickers |Jordan McErlean |Jonathon Milne

On August 31, 2022, significant amendments to Part V of the Cayman Islands Companies Act (“Act”) took effect to revamp the Cayman Islands restructuring regime. These amendments introduced the new role of a court-appointed “Restructuring Officer” and a dedicated “Restructuring Petition.” The Cayman Islands restructuring officer regime (“RO Regime”) shares certain features with the Chapter 11 bankruptcy procedure in the US and Canada’s Companies’ Creditors Arrangement Act.

Oct 12, 2023 | jdsupra.com | Jordan McErlean

Oct 2, 2023 | mondaq.com | Jordan McErlean

A version of this was first published in INSOL I-Read Student Newsletter, Issue 9, September 2023, and is republished with kind permission of INSOL International. After a substantial industry consultation process, the Cayman Islands introduced the concept of Court-appointed restructuring officers into Part V of the Cayman Islands Companies Act (the "Companies Act") with effect from 31 August 2022.

Sep 29, 2023 | lexology.com | Jordan McErlean

A version of this was first published in INSOL I-Read Student Newsletter, Issue 9, September 2023, and is republished with kind permission of INSOL International. After a substantial industry consultation process, the Cayman Islands introduced the concept of Court-appointed restructuring officers into Part V of the Cayman Islands Companies Act (the “Companies Act”) with effect from 31 August 2022.