Controllership and Schemes of Arrangement services in the Cayman Islands has been saved
Controllership and Schemes of Arrangement services in the Cayman Islands
Controllership and Judicial Management
Controllerships or in certain cases, appointments as Judicial Manager, usually stem from regulator intervention. Our restructuring professional in the Cayman Islands and across our offices in the Caribbean and Bermuda region have extensive experience of such appointments. We can take control of an entity, undertake investigations and formulate a restructuring plan. We work closely with the various regulators in the Caribbean and Bermuda region.
Schemes of Arrangement
A Scheme of Arrangement is a process used by an entity in financial difficulty to reach a binding agreement with its members or creditors for the purpose or a compromise arrangement, restructuring or amalgamation of entities.
It should be considered by entities with large debts that need to restructure and would like to do so avoiding liquidation. It involves preparing a proposal for members and/or creditors and achieving support for these proposals before requesting approval from the court. Following the registration of the court approval with the Cayman Islands’ Registrar, the scheme is binding on all parties.
Our restructuring professionals can guide you through every step of the process to ensure that the Scheme of Arrangement has the best possible chance of success and that the process goes quickly, smoothly and is cost effective.