Failures are an inherent and unavoidable part of life and business. Without effective management, a problem can easily become a crisis. For an entity, this can often mean financial distress and insolvency. If you are a stakeholder in such an entity you may well, ask yourself: “what can I do in this situation?”
Court Appointed Liquidation
The Official Liquidation regime provides a formal, structured and court supervised process to appoint an independent liquidator to investigate the affairs of a business and to identify and monetise assets for the benefit of stakeholders, including through the commencement of litigation. Liquidators in the Cayman Islands and the British Virgin Islands must meet strict criteria in respect of experience and qualifications.
R&H Restructuring can provide experienced, licensed insolvency practitioners who are regularly appointed by the Courts in the Cayman Islands and the British Virgin Islands and who are seasoned in dealing with complex cross border matters and contentious situations.
We are part of the Nexia international network which has a substantial global presence allowing us to draw on local expertise for specific matters as they arise.
Provisional Liquidations and Schemes of Arrangement
During periods of distress it may be possible to restructure the affairs of the business such that it can continue in whole or in part as a going concern. Restructuring within a court process will typically involve the promotion of a scheme of arrangement whereby compromise agreements are reached with different classes of stakeholders. In the context of an insolvent liquidation, schemes are promoted within a provisional liquidation in order to obtain a stay of proceedings.
Experienced R&H Restructuring professionals are able to act as both provisional liquidators appointed by the Courts and also as scheme trustee. We bring significant experience in dealing with commercial negotiation and financial restructuring in order to present and administer a restructuring plan that is capable of being agreed by stakeholders and the Court.
Our experienced, professional insolvency practitioners are able to act as Receivers (either appointed by court order or by contract) in a variety of asset enforcement scenarios. With a focus on maximising realisations for the relevant stakeholders, we are able to utilise the resources available to us and a worldwide network to trace assets and realise their value.