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Schemes of Arrangement Services in the Cayman Islands
Scheme 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