Voluntary Liquidation services in the Cayman Islands
The appointment of a qualified insolvency practitioner as an independent third party to be the Voluntary Liquidator provides assurance that the wind down of an entity will be dealt with objectively, transparently and in accordance with legislative requirements.
The most common reasons for a voluntary liquidation are:
- the wind down of an alternative investment fund that has reached the end of its operating life
- the elimination of entities due to a group restructuring
Alternative Investment Funds
Our restructuring professionals have extensive knowledge of alternative investment fund structures.
Our voluntary liquidation services span straightforward closure of funds with no assets or liabilities to providing restructuring advice and solutions for funds with illiquid assets and contingent liabilities.
The liquidation process minimizes the likelihood of future claims being made against the fund and / or its directors by ensuring all statutory and regulatory termination requirements are complied with. It ensures proper distribution to creditors and investors in accordance with legislation and the fund’s incorporation documents.
Our restructuring team works closely with both restructuring and tax colleagues in other offices throughout the Deloitte network to help clients undertaking restructurings achieve a structure that meets the needs of their global organizations.
At Deloitte, we provide a seamless solution across multiple jurisdictions.
Voluntary liquidation services include:
- Pre appointment consultation and advice
- Appointment as Voluntary Liquidators, including joint appointments with a practitioner from another Deloitte offices where required
- Maintaining investor updates and communication
- Realization of assets where required including illiquid or contingent assets
- Distributions to shareholders
- Preparation and filing of any required tax reporting such as K1s or PFIC returns
- Deregistration of Cayman Islands Monetary Authority licences
- Dissolution of the entity in line with all regulatory and statutory requirements