42:
19:
769:
If the company is insolvent the committee must comprise not less than three and not more than five creditors. If the company has been certified as of doubtful solvency the committee must comprise not less than three and not more than six members, a majority of whom must be creditors but at least one of which must be a shareholder. In the event that the liquidator's initial certification as to the solvency/insolvency of the company changes during the course of the liquidation, the membership of the committee will similarly change so as to properly represent the stakeholders in the liquidation.
873:
the company breathing space from its creditors in order to seek consent for and implement the scheme. Upon the making of an order for provisional liquidation, no proceedings may be commenced or continued with against the company, although this does not affect the right of secured creditors to enforce their security. Although the appointment of a provisional liquidator is intended to be a remedy to prevent fraudulent dissipation of the company's assets, the use of such orders to support restructuring through schemes of arrangement has now becomes widespread market practice.
2610:
693:
directors are not able to make a determination of solvency, or if upon the application of a creditor to the court it is shown that either (a) the company is or is likely to become insolvent; or (b) the supervision of the Court will facilitate a more effective, economic or expeditious liquidation of the company in the interests of the contributories and creditors, then the court may order the winding up be subject to the supervision of the court, and in such cases a licensed insolvency practitioner must be appointed as liquidator.
892:. There company must have been insolvent at the time of giving the preference, but the giving of the preference which caused the company to subsequently become insolvent will not trigger the provision. If the preference is a payment in favour of a "related party" (a creditor shall be treated as a "related party" if it has the ability to control the company or exercise significant influence over the company in making financial and operating decisions) then it is deemed to have been made for the purposes of giving a preference.
860:
floating charge holder, because the claims secured by the floating charge are subordinated to the claims of the preferred creditors, in practice the secured creditor is unlikely to enforce his rights unless it is clear that there are sufficient assets available to the liquidator to pay all of the preferred claims.
895:
In addition, every disposition of property made at an undervalue by or on behalf of a company with intent to defraud its creditors shall be voidable at the instance of its official liquidator. The burden of establishing an intent to defraud for the purposes of this section shall be upon the official
846:
This right of insolvency set-off is subject to (a) the rights of the secured creditors and the preferred creditors, (b) any contractual rights of subordination, and (c) any contractual netting arrangements. Where the company has entered into any netting agreements in relation to financial contracts,
731:
Although the reference in the legislation to a company being unable to pay its debts appears to be a clear reference to cash-flow insolvency, case law in the Cayman
Islands makes it clear that the court may order the winding up of a company under this heading on the basis of balance sheet insolvency.
652:
and in a local newspaper, given notice of his intention to transfer his stock-in-trade, debts or things in action relating to his business to any other person; and that the creditor presenting the petition has served on the debtor a bankruptcy notice in writing requiring him to pay the amount of such
938:
Moreover, an otherwise qualified insolvency practitioner shall not be appointed by the court as official liquidator of any company unless (a) he is resident in the Cayman
Islands; and (b) he, or the firm of which he is a partner or employee, holds a trade and business licence which authorises him or
776:
On an application to dispense with the requirement to establish a liquidation committee, the court will look to the reasons why a liquidation committee cannot be formed in compliance with the
Companies Winding Up Rules. Importantly, where a liquidator's determination with respect to the solvency of
768:
The membership of the committee will be determined by whether the liquidator determines that the company is solvent, insolvent or of doubtful solvency. If the liquidator determines that the company is solvent then the committee must comprise not less than three and not more than five shareholders.
585:
than citizens, and accordingly the courts a large amount of time dealing with corporate insolvency and reorganisation. Because a large number of Cayman
Islands are listed on stock exchanges in major financial centres, and number of Cayman Islands corporate bankruptcies have generated a high profile
692:
either voluntarily, or pursuant to an order of the court. If a company enters voluntary winding up then the directors are required to make a determination of solvency. Any person (including a former director of the company) may act as liquidator in a solvent voluntary winding up. However, if the
872:
and reorganise its debts if the scheme is supported by a majority of creditors holdings 75% in value of the company's debt. In the Cayman
Islands it is quite common for a scheme of arrangement to be supported by an application by the company for the appointment of a provisional liquidator to give
764:
In almost all compulsory liquidations, the liquidator is required to establish a liquidation committee. The committee of a company being wound up will be elected at the first meeting of the relevant stakeholders after commencement of the liquidation. The committee is supposed to give guidance to
752:
is appointed, no suit, action or other proceedings may be proceeded with or commenced against the company except with the leave of the court; where such an order has been made, any attachment, distress or execution put in force against the estate or effects of the company after the commencement of
678:
where any debtor is absent from the Cayman
Islands, any act done or suffered by any agent or manager of the debtor managing any property, which, if such agent or manager were the owner of the property or business, would have constituted an act of bankruptcy available against such person, shall, in
859:
can enforce their security at any time - the granting of an order for winding up of a company does not stay a secured creditor's rights. If the secured creditor has a security interest which is only a floating charge, then although the making of a winding up order does not stay the rights of the
833:
Preferential claims are set out in schedule 2 to the
Companies Law, and broadly encompass employee's claims, sums due to governmental or quasi-governmental bodies in the Cayman Islands, and sums due to depositors by a bank. The Companies Law does not make express provision for the position of a
900:
transferees for value without notice, but where a transfer to such a party is set aside then the transferee shall have a first and paramount charge over the property, the subject of the disposition, of an amount equal to the entire costs properly incurred by the transferee in the defence of the
842:
Where a company goes into winding up, and the company has any claims against a creditor proving in the liquidation, an account is taken of what is due from each party to the other in respect of their mutual dealings, and the sums due from one party shall be set-off against the sums due from the
885:
Every conveyance or transfer of property or money which is made by a company in favour of a creditor at a time when the company is unable to pay its debts with a view to giving such creditor a preference over the other creditors shall be if made within six months immediately preceding the
772:
Case law has now made it clear that it no longer has any ability (by way of its inherent jurisdiction or otherwise) to make directions with respect to the composition of a liquidation committee (other than to dispense with a committee altogether in appropriate circumstances).
1994:
953:
is largely regulated under the
Foreign Bankruptcy Proceedings (International Cooperation) Rules 2008. In practice the Cayman Islands courts seek to cooperate with foreign courts and bankruptcy officials to ensure the efficient administration of insolvent estates.
605:
A single creditor or two or more creditors who are owed an amount not less than CI$ 40 may present a petition to the court against a debtor for a declaration of bankruptcy if the debtor has committed one or more "acts of bankruptcy". An act of bankruptcy means:
706:
the period, if any, fixed for the duration of the company by the articles of association expires, or whenever the event, if any, occurs, upon the occurrence of which it is provided by the articles of association that the company is to be wound
41:
927:
he is qualified as a professional accountant by an approved institute, is in good standing with such institute, has a minimum of five (5) years' relevant experience and is credited with not less than 2,500 chargeable hours of relevant work;
919:
Insolvency practitioners are regulated under the
Insolvency Practitioners' Regulations, 2008 (as amended). Under the regulations a person shall only be qualified to accept appointment by the court as official liquidator of any company if:
2731:
834:
crystallised floating charge, and accordingly it seems arguable that when a floating charge crystallises upon the making of a wind-up order, the position of the floating security holder should change to that of a fixed charge holder.
2110:
2103:
2272:
1811:
2163:
679:
all cases, be deemed to have been expressly authorised by the debtor and shall be available as an act of bankruptcy against the debtor unless the authority of the agent or manager shall be shown to have been exceeded.
1831:
777:
a company is the sole reason why a compliant committee cannot be formed, it appears that the court may look behind a liquidator's summary determination and examine the methodology used to reach that determination.
2741:
2711:
2574:
2135:
1910:
1767:
1733:
656:
that the debtor has paid money to or given or delivered any satisfaction or security for the debt of a petitioning creditor, or any part thereof, after such creditor has presented a bankruptcy petition against
1890:
881:
Under Cayman
Islands law, there are two principal avoidance regimes in relation to transactions entered into during the onset of insolvency: (a) voidable preferences, and (b) dispositions at an undervalue.
2260:
1804:
1158:
2736:
1962:
2021:
1520:
2716:
1503:
2142:
1508:
2203:
2157:
2126:
1947:
1488:
1291:(UK), which provides that a floating charge includes any charge which was created as a floating charge, ie. it is still treated as a floating charge for priority purposes after crystallisation.
2494:
2073:
1782:
1604:
1515:
1493:
2564:
2082:
1724:
1707:
978:
2089:
632:
the creditor has served on the debtor a bankruptcy notice (loosely akin to a statutory demand) requiring payment of a sum of not less than CI$ 40 which was not satisfied within seven days;
2666:
1869:
1793:
1550:
868:
Under Cayman Islands law there is no formal debtor-in-possession form of rehabilitation for companies in financial distress. However, under the Companies Law, a company may enter into a
2584:
2429:
1929:
1651:
1634:
1623:
1498:
2706:
2219:
1701:
1671:
1751:
935:
For these purposes the relevant countries are (a) England and Wales; (b) Scotland; (c) Northern Ireland; (d) The Republic of Ireland; (e) Australia; (f) New Zealand; and (g) Canada.
1976:
2096:
886:
commencement of a liquidation. For these purposes the requirement to show an intention to give a preference is to be viewed in line with accepted common law authorities, such as
896:
liquidator. The relevant disposition must have occurred not more than six years prior to the application of the official liquidator. There are no specific provisions protected
2759:
2054:
2008:
2001:
1530:
2721:
2371:, physiographically not part of the Lucayan Archipelago, Antilles, Caribbean Sea nor North American continental nor South American continental islands. It is grouped with the
1713:
1578:
931:
he has previously been appointed by the court as an official liquidator of a company at any time within the five years immediately preceding the regulations coming into force.
1664:
2776:
2764:
2754:
2701:
2671:
2253:
1818:
1694:
1678:
2726:
2034:
1987:
1740:
1541:
675:
any person who is, for the time being, entitled to enforce a final judgment shall be deemed a creditor who has obtained a final judgment within the meaning of the Law; and
2569:
2504:
2439:
2237:
2183:
1956:
1905:
2691:
2686:
2681:
2479:
2279:
2178:
1899:
1687:
1657:
1596:
2661:
2226:
1854:
2676:
2599:
2544:
2514:
2434:
2193:
2188:
843:
other. Only the balance, if any, of the account taken shall be provable in the liquidation or, as the case may be, payable to the liquidator as part of the assets.
2579:
2554:
2529:
2489:
2474:
2444:
2287:
2212:
2067:
1924:
1879:
2246:
2646:
2641:
2594:
2534:
2509:
2499:
2454:
2172:
2041:
1884:
1847:
1572:
1169:
2549:
2539:
2519:
2449:
2266:
2116:
2062:
735:
Liquidation is a class right, and so the court will not normally make an order upon the application of a creditor if it is opposed by a majority of creditors.
847:
the contractual netting provisions shall prevail over the statutory set-off rights. This includes netting agreements which provide for multilateral set-off.
2636:
2524:
2469:
1840:
1609:
2559:
2484:
1567:
1328:
1123:
742:
is appointed, his duty is to collect all of the assets of the company, liquidate them and pay or provide for the claims of the company's creditors
721:
a creditor in a sum exceeding CI$ 100, has served a statutory demand on the company, and the company has failed to pay the sum within 21 days;
620:
the debtor has attempted to defeat or delay his creditors by leaving the Cayman Islands, or begun to sell his stock-in-trade at an undervalue;
345:
1467:
401:
2651:
2419:
2404:
1760:
330:
201:
908:
the commencement of the winding up is void unless the court otherwise orders, where the winding up is pursuant to a court order.
457:
68:
2803:
963:
904:
Any disposition of a company's property and any transfer of shares or alteration in the status of the company's members made
371:
968:
703:
the company does not commence its business within a year from its incorporation, or suspends its business for a whole year;
530:
196:
998:
973:
911:
Under Cayman Islands law there is no general power vested in a liquidator to disclaim onerous or unprofitable contracts.
668:
the debt of the petitioning creditor must be a liquidated sum due or growing due at law or in equity, and must not be a
2808:
2798:
785:
In liquidation the assets of the insolvent company will be distributed according to the following order of priority:
2341:
are not part of the volcanic Windward Islands arc, although sometimes grouped with them culturally and politically.
829:
any balance is returned to the shareholders in accordance with their entitlements under the articles of association.
566:
These are supplemented by a number of practice directions of the Cayman Islands courts and a wide body of case law.
2656:
1561:
93:
823:
payment of creditors whose claims derive through shares in the company by way of dividends or redemption proceeds;
597:". The relevant statutes deal with both separately, although there are some provisions which are common to both.
2589:
426:
942:
All licensed insolvency practitioners must be insured up to the minimum amount of professional indemnity cover.
610:
the debtor has made a general assignment of his property to a trustee or trustees for the benefit of creditors;
396:
1460:
645:
the debtor has made of conveyance which would be void as a fraudulent conveyance if he was adjudged bankrupt;
421:
416:
73:
765:
the liquidator in relation to the wishes of the stakeholders in relation to the conduct of the liquidation.
2397:
1130:
665:
the alleged act of bankruptcy must have occurred within six months before the presentation of the petition;
411:
23:
2324:
2696:
1585:
578:
477:
366:
1237:
Priority between liquidation expenses and floating chargeholders is still determined by the rule in
1453:
629:
execution against the debtor on any legal process has been levied by seizure and sale of his goods;
523:
406:
391:
376:
361:
247:
2390:
950:
753:
the winding up is void. This provision does not appear to affect a purely voluntary winding up.
504:
494:
447:
335:
273:
124:
103:
724:
execution of other process issued on a judgement is returned unsatisfied in whole or in part; or
2631:
1645:
888:
749:
237:
18:
700:
the company has passed a special resolution requiring the company to be wound up by the court;
2320:
869:
800:
639:
614:
442:
340:
232:
216:
170:
149:
144:
2464:
2459:
594:
452:
58:
1159:"The Court's power in relation to the formation and composition of liquidation committees"
727:
it is proved to the satisfaction of the court that the company is unable to pay its debts.
713:
the court is of opinion that it is just and equitable that the company should be wound up.
8:
2618:
2352:
2344:
1410:
1288:
590:
516:
386:
2334:
1335:
1165:
635:
the debtor has not satisfied a judgment debt of not less than CI$ 40 within seven days;
472:
263:
180:
856:
817:
790:
499:
482:
467:
314:
242:
134:
83:
2338:
1287:
Contrast, for example, the definition of a "floating charge" in section 251 of the
1239:
739:
593:" in the Cayman Islands, whereas the bankruptcy of corporations is referred to as "
582:
309:
278:
175:
139:
2316:
807:
696:
In addition to voluntary liquidation, a company may be wound up by the court if:
294:
78:
2368:
2365:
574:
570:
1445:
2792:
2382:
2372:
924:
he is licensed to act as an insolvency practitioner in a relevant country; or
211:
2309:
are parts of transregional sovereign states or non-sovereign dependencies.
669:
108:
88:
2328:
2312:
689:
562:
the Foreign Bankruptcy Proceedings (International Cooperation) Rules 2008
268:
98:
939:
his firm to carry on business as professional insolvency practitioners.
793:
will be reserved to the secured creditors benefiting from that security;
577:
relates to corporate insolvency rather than personal bankruptcy. As an
1124:"Cayman Liquidation Committees – What Prospective Members Need to Know"
744:
488:
63:
33:
2623:
1477:
206:
546:
is principally codified in five statutes and statutory instruments:
2609:
2375:
region, but occasionally also with the Caribbean region culturally.
2356:
304:
165:
129:
2361:
2348:
462:
756:
At the conclusion of the winding up the company is dissolved.
623:
the debtor has declared himself unable to meet his engagement;
1079:
1077:
653:
debt, and that the debtor has not paid within seven days; or
559:
the Insolvency Practitioners' Regulations 2008 (as amended)
299:
1074:
626:
the debtor has presented the bankruptcy petition himself;
1422:
Insolvency Practitioners' Regulations, regulation 4(1).
1156:
FSD 27/13, Grand Court (unreported), 28 January 2014.
826:
payment of post-liquidation interest on any debts; and
717:
A company is deemed to be unable to pay its debts if:
1329:"Cayman Islands - Schemes of Arrangement - Procedure"
748:. After the order for winding up is made, or when a
589:
Bankruptcy of individuals is usually referred to as "
2327:constituents but subsumed with the country of the
1267:Culross Global SPC Limited v Strategic Turnaround
2790:
556:the Companies Winding Up Rules 2008 (as amended)
1475:
2412:
1440:Insolvency Practitioners' Regulations, rule 7.
1431:Insolvency Practitioners' Regulations, rule 5.
2398:
1461:
524:
2732:South Georgia and the South Sandwich Islands
1154:Re Herald Fund SPC (In Official Liquidation)
1113:Companies Winding Up Rules 2008, order 9(1).
837:
813:payment of the ordinary unsecured creditors;
999:"LDK Solar USA Files Chapter 11 Bankruptcy"
969:Cayman Islands Insolvency Law in 60 Seconds
914:
638:the debtor has not paid an obligation on a
2405:
2391:
1830:
1468:
1454:
1253:
1251:
1249:
945:
855:A creditor who has the benefit of a valid
710:the company is unable to pay its debts; or
683:
531:
517:
1595:
1149:
1147:
759:
876:
17:
2315:that with the ABC islands comprise the
1246:
1224:
1222:
1194:
1192:
1190:
642:of not less than CI$ 40 within 14 days;
2791:
1373:Companies Law, section 145(2) and (3).
1144:
1091:
1089:
600:
2386:
1449:
780:
1219:
1187:
850:
796:payment of the liquidation expenses;
1104:Companies Law, section 151 and 152.
1086:
789:property which is subject to valid
13:
979:Guide to Cayman Islands insolvency
550:the Bankruptcy Law (1997 Revision)
40:
14:
2820:
1168:. 4 February 2014. Archived from
964:INSOL Guide to the Cayman Islands
957:
553:the Companies Law (2013 Revision)
2608:
2575:Saint Vincent and the Grenadines
1911:Saint Vincent and the Grenadines
1228:Companies Law, section 141(2)(b)
863:
22:The Cayman Islands is a leading
1891:Carriacou and Petite Martinique
1434:
1425:
1416:
1403:
1394:
1385:
1376:
1367:
1358:
1349:
1321:
1312:
1303:
1294:
1281:
1272:
1260:
1231:
1210:
1201:
1116:
1107:
1098:
806:payment of claims secured by a
569:Most of the recent emphasis of
1391:Companies Law, section 146(5).
1355:Companies Law, section 145(1).
1309:Companies Law, section 140(5).
1300:Companies Law, section 140(3).
1278:Companies Law, section 149(2).
1257:Companies Law, section 140(2).
1216:Companies Law, section 141(1).
1207:Companies Law, section 109(1).
1198:Companies Law, section 142(1).
1083:Companies Law, section 140(1).
1062:
1050:
1041:
1032:
1023:
1020:Companies Law, section 123(1).
1014:
1005:
1001:. NASDAQ.com. 21 October 2014.
990:
661:But it is a requirement that:
581:, the Cayman Islands has more
1:
2804:Economy of the Cayman Islands
974:Cayman Islands insolvency law
544:Cayman Islands bankruptcy law
1734:Collectivity of Saint Martin
984:
648:that the debtor has, in the
617:of any part of his property;
7:
1382:Companies Law, section 146.
1029:Companies Law, section 131.
1011:Bankruptcy Law, section 14.
10:
2825:
2413:Bankruptcy in the Americas
1995:San Andrés and Providencia
1400:Companies Law, section 99.
1318:Companies Law, section 86.
1095:Companies Law, section 97.
1069:Re ABC Coupler Engineering
1047:Companies Law, section 93.
1038:Companies Law, section 92.
2809:Insolvency law by country
2799:Law of the Cayman Islands
2750:
2717:Saint Pierre and Miquelon
2617:
2606:
2418:
2300:
2236:
2202:
2156:
2125:
2053:
2020:
1975:
1946:
1868:
1792:
1781:
1750:
1723:
1633:
1622:
1549:
1540:
1529:
1484:
838:Set-off and subordination
816:payment of contractually
579:offshore financial centre
478:History of bankruptcy law
24:financial services centre
2737:Turks and Caicos Islands
1963:Turks and Caicos Islands
915:Insolvency practitioners
791:fixed security interests
248:Voidable floating charge
1057:Re Awal Finance Company
951:Cross-border insolvency
946:Cross-border insolvency
901:action or proceedings.
684:Winding up of companies
495:Pre-packaged insolvency
448:Bankruptcy alternatives
336:Cross-border insolvency
274:Trading while insolvent
125:Insolvency practitioner
104:Provisional liquidation
2652:British Virgin Islands
1761:British Virgin Islands
1521:West Indies Federation
889:Re MC Bacon Ltd (No 1)
818:subordinated creditors
760:Liquidation committees
750:provisional liquidator
613:the debtor has made a
238:Undervalue transaction
45:
27:
2565:Saint Kitts and Nevis
2311:These three form the
2111:South Caribbean Coast
2104:North Caribbean Coast
1708:Saint Kitts and Nevis
1504:Caribbean Netherlands
877:Voidable transactions
870:scheme of arrangement
640:negotiable instrument
615:fraudulent conveyance
443:Anti-deprivation rule
341:Insolvency Regulation
233:Fraudulent conveyance
217:Scheme of arrangement
171:Preferential creditor
150:Trustee in bankruptcy
145:Referee in Bankruptcy
44:
21:
2353:Disputed territories
2345:Disputed territories
2143:Venezuelan Caribbean
1812:Federal Dependencies
1509:Netherlands Antilles
688:A company may enter
595:corporate insolvency
2742:U.S. Virgin Islands
2585:Trinidad and Tobago
2430:Antigua and Barbuda
2339:continental islands
2136:Colombian Caribbean
1930:Trinidad and Tobago
1768:U.S. Virgin Islands
1652:Antigua and Barbuda
1489:British West Indies
1411:Insolvency Act 1986
1289:Insolvency Act 1986
1175:on 28 November 2014
601:Personal bankruptcy
591:personal bankruptcy
197:Administration (UK)
2495:Dominican Republic
2261:Venezuelan Guayana
1605:Dominican Republic
1516:French West Indies
1494:Danish West Indies
1476:Bankruptcy in the
1413:(UK), section 178.
781:Priority of claims
583:resident companies
473:Financial distress
346:UNCITRAL Model Law
264:Fraudulent trading
181:Unsecured creditor
46:
28:
2786:
2785:
2380:
2379:
2373:Northern American
2335:Physiographically
2296:
2295:
2204:Yucatán Peninsula
2152:
2151:
1971:
1970:
1942:
1941:
1938:
1937:
1919:
1918:
1864:
1863:
1805:Insular Venezuela
1777:
1776:
1618:
1617:
996:See for example:
857:security interest
851:Secured creditors
586:internationally.
541:
540:
500:Sovereign default
483:List of bankrupts
453:Creditors' rights
315:Security interest
243:Unfair preference
225:Avoidance regimes
135:Regulatory agency
2816:
2707:Saint Barthélemy
2667:Falkland Islands
2612:
2407:
2400:
2393:
2384:
2383:
2355:administered by
2347:administered by
2273:Guayana Esequiba
2200:
2199:
2051:
2050:
1828:
1827:
1790:
1789:
1721:
1720:
1702:Saint Barthélemy
1631:
1630:
1593:
1592:
1547:
1546:
1538:
1537:
1470:
1463:
1456:
1447:
1446:
1441:
1438:
1432:
1429:
1423:
1420:
1414:
1407:
1401:
1398:
1392:
1389:
1383:
1380:
1374:
1371:
1365:
1362:
1356:
1353:
1347:
1346:
1344:
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1240:Buchler v Talbot
1235:
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1199:
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994:
533:
526:
519:
310:Second lien loan
279:Wrongful trading
176:Secured creditor
30:
29:
2824:
2823:
2819:
2818:
2817:
2815:
2814:
2813:
2789:
2788:
2787:
2782:
2760:Central America
2746:
2621:
2613:
2604:
2421:
2414:
2411:
2381:
2376:
2364:is an isolated
2323:are not direct
2319:, of which the
2317:Dutch Caribbean
2305:Territories in
2292:
2232:
2198:
2162:
2159:
2148:
2121:
2055:Central America
2049:
2025:
2023:
2016:
2009:Serranilla Bank
2002:Bajo Nuevo Bank
1978:
1967:
1949:
1934:
1915:
1871:
1860:
1826:
1795:
1784:
1773:
1746:
1719:
1636:
1625:
1614:
1591:
1552:
1532:
1525:
1499:Dutch Caribbean
1480:
1474:
1444:
1439:
1435:
1430:
1426:
1421:
1417:
1408:
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1399:
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987:
960:
948:
917:
879:
866:
853:
840:
808:floating charge
801:preferred debts
783:
762:
686:
603:
537:
331:Chapter 15 (US)
295:Floating charge
202:Chapter 11 (US)
79:Conservatorship
12:
11:
5:
2822:
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2806:
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2784:
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2722:Sint Eustatius
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2699:
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2657:Cayman Islands
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2369:oceanic island
2366:North Atlantic
2301:
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2018:
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2015:
2014:
2013:
2012:
2005:
1991:
1983:
1981:
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1969:
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1966:
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1752:Virgin Islands
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1714:Sint Eustatius
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1579:Navassa Island
1575:
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1562:Cayman Islands
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958:External links
956:
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575:Cayman Islands
573:reform in the
571:bankruptcy law
564:
563:
560:
557:
554:
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539:
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528:
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513:
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458:Chapter 9 (US)
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422:United Kingdom
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69:Chapter 7 (US)
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59:Administration
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37:
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9:
6:
4:
3:
2:
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2777:South America
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2755:North America
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2672:French Guiana
2670:
2668:
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2658:
2655:
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2648:
2645:
2643:
2640:
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2254:French Guiana
2251:
2249:
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2241:
2239:
2235:
2229:
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2222:
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2155:
2145:
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2137:
2133:
2132:
2130:
2128:
2127:South America
2124:
2118:
2115:
2113:
2112:
2108:
2106:
2105:
2101:
2099:
2098:
2094:
2092:
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2044:
2043:
2039:
2038:
2037:
2036:
2032:
2031:
2029:
2027:
2019:
2011:
2010:
2006:
2004:
2003:
1999:
1998:
1997:
1996:
1992:
1990:
1989:
1985:
1984:
1982:
1980:
1974:
1965:
1964:
1960:
1958:
1955:
1953:
1951:
1945:
1931:
1928:
1926:
1922:
1921:
1912:
1909:
1907:
1904:
1902:
1901:
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1892:
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1849:
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1837:
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1820:
1819:Nueva Esparta
1816:
1814:
1813:
1809:
1808:
1807:
1806:
1802:
1801:
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1791:
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1704:
1703:
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1679:Marie-Galante
1676:
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1669:
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1558:
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1543:
1539:
1536:
1534:
1528:
1522:
1519:
1517:
1514:
1510:
1507:
1505:
1502:
1501:
1500:
1497:
1495:
1492:
1490:
1487:
1486:
1483:
1479:
1471:
1466:
1464:
1459:
1457:
1452:
1451:
1448:
1437:
1428:
1419:
1412:
1409:Contrast the
1406:
1397:
1388:
1379:
1370:
1361:
1352:
1337:
1330:
1324:
1315:
1306:
1297:
1290:
1284:
1275:
1268:
1263:
1254:
1252:
1250:
1242:
1241:
1234:
1225:
1223:
1213:
1204:
1195:
1193:
1191:
1171:
1167:
1160:
1155:
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1148:
1132:
1125:
1119:
1110:
1101:
1092:
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1080:
1078:
1070:
1065:
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1053:
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1008:
1000:
993:
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980:
977:
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972:
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961:
955:
952:
943:
940:
936:
930:
926:
923:
922:
921:
912:
909:
907:
902:
899:
893:
891:
890:
883:
874:
871:
864:Restructuring
861:
858:
848:
844:
835:
828:
825:
822:
819:
815:
812:
809:
805:
802:
798:
795:
792:
788:
787:
786:
778:
774:
770:
766:
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751:
747:
746:
741:
736:
733:
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723:
720:
719:
718:
712:
709:
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702:
699:
698:
697:
694:
691:
677:
674:
671:
667:
664:
663:
662:
655:
651:
647:
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641:
637:
634:
631:
628:
625:
622:
619:
616:
612:
609:
608:
607:
598:
596:
592:
587:
584:
580:
576:
572:
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561:
558:
555:
552:
549:
548:
547:
545:
534:
529:
527:
522:
520:
515:
514:
512:
511:
506:
505:Subordination
503:
501:
498:
496:
493:
491:
490:
486:
484:
481:
479:
476:
474:
471:
469:
466:
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461:
459:
456:
454:
451:
449:
446:
444:
441:
440:
439:
438:
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433:
428:
427:United States
425:
423:
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418:
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323:International
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308:
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244:
241:
239:
236:
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231:
230:
229:
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224:
223:
218:
215:
213:
212:Restructuring
210:
208:
205:
203:
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198:
195:
194:
193:
192:
189:Restructuring
188:
187:
182:
179:
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172:
169:
167:
164:
163:
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161:
157:
156:
151:
148:
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143:
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138:
136:
133:
131:
128:
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120:
116:
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110:
107:
105:
102:
100:
97:
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62:
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55:
54:
50:
49:
43:
39:
38:
35:
32:
31:
25:
20:
16:
2775:
2727:Sint Maarten
2712:Saint Martin
2619:Dependencies
2343:
2333:
2310:
2306:
2302:
2278:
2271:
2259:
2252:
2245:
2225:
2218:
2211:
2171:
2164:may include:
2141:
2134:
2109:
2102:
2097:Corn Islands
2095:
2088:
2081:
2072:
2040:
2035:Quintana Roo
2033:
2007:
2000:
1993:
1986:
1961:
1898:
1889:
1853:
1846:
1839:
1817:
1810:
1803:
1766:
1759:
1741:Sint Maarten
1739:
1732:
1725:Saint Martin
1712:
1700:
1693:
1686:
1677:
1670:
1663:
1656:
1644:
1584:
1577:
1560:
1436:
1427:
1418:
1405:
1396:
1387:
1378:
1369:
1360:
1351:
1339:. Retrieved
1323:
1314:
1305:
1296:
1283:
1274:
1266:
1262:
1238:
1233:
1212:
1203:
1177:. Retrieved
1170:the original
1153:
1134:. Retrieved
1118:
1109:
1100:
1068:
1064:
1056:
1052:
1043:
1034:
1025:
1016:
1007:
992:
949:
941:
937:
934:
918:
910:
905:
903:
897:
894:
887:
884:
880:
867:
854:
845:
841:
832:
784:
775:
771:
767:
763:
755:
743:
737:
734:
730:
716:
695:
687:
670:secured debt
660:
649:
604:
588:
568:
565:
543:
542:
487:
412:South Africa
381:
109:Receivership
89:Examinership
15:
2697:Puerto Rico
2624:territories
2570:Saint Lucia
2505:El Salvador
2329:Netherlands
2321:BES islands
2313:SSS islands
2238:The Guianas
2184:El Salvador
2074:Bay Islands
2024:continental
1988:Aves Island
1950:Archipelago
1906:Saint Lucia
1832:ABC islands
1672:Les Saintes
1665:La DĂ©sirade
1586:Puerto Rico
1341:15 November
1179:15 November
1136:15 November
1059:(1) CLR 487
799:payment of
417:Switzerland
269:Misfeasance
99:Liquidation
84:Dissolution
2793:Categories
2692:Montserrat
2687:Martinique
2682:Guadeloupe
2480:Costa Rica
2280:Tigri Area
2179:Costa Rica
1900:Martinique
1688:Montserrat
1658:Guadeloupe
1597:Hispaniola
745:pari passu
740:liquidator
690:winding up
489:Pari passu
354:By country
140:Liquidator
64:Bankruptcy
34:Insolvency
2765:Caribbean
2677:Greenland
2600:Venezuela
2545:Nicaragua
2515:Guatemala
2435:Argentina
2420:Sovereign
2194:Nicaragua
2189:Guatemala
2160:groupings
2022:Caribbean
1977:Caribbean
1785:Caribbean
1478:Caribbean
1071:1 WLR 243
985:Footnotes
898:bona fide
392:Hong Kong
367:Australia
207:Cram down
158:Claimants
117:Officials
51:Processes
2632:Anguilla
2580:Suriname
2555:Paraguay
2530:Honduras
2490:Dominica
2475:Colombia
2445:Barbados
2357:Colombia
2337:, these
2288:Suriname
2213:Campeche
2068:Honduras
1925:Barbados
1880:Dominica
1870:Windward
1796:Antilles
1783:Southern
1646:Anguilla
1626:Antilles
1553:Antilles
1542:Antilles
1364:BCLC 324
1269:UKPC 33.
362:Anguilla
305:Mortgage
287:Security
256:Offences
166:Creditor
130:Tribunal
2662:Curaçao
2647:Bonaire
2642:Bermuda
2595:Uruguay
2535:Jamaica
2510:Grenada
2500:Ecuador
2455:Bolivia
2440:Bahamas
2362:Bermuda
2325:Kingdom
2307:italics
2227:Yucatán
2173:Bermuda
2042:Cozumel
1957:Bahamas
1948:Lucayan
1885:Grenada
1872:Islands
1855:Curaçao
1848:Bonaire
1794:Leeward
1637:Islands
1635:Leeward
1573:Jamaica
1551:Greater
1336:Walkers
1243:UKHL 9.
1166:Walkers
1131:Harneys
738:Once a
650:Gazette
468:Default
402:Ireland
2550:Panama
2540:Mexico
2520:Guyana
2465:Canada
2460:Brazil
2450:Belize
2422:states
2349:Guyana
2267:Guyana
2117:Panama
2083:Izabal
2063:Belize
1923:
1624:Lesser
1533:Indies
463:Debtor
407:Russia
382:Cayman
377:Canada
2637:Aruba
2525:Haiti
2470:Chile
2303:N.B.:
2247:Amapá
2220:Petén
2158:Wider
2090:LimĂłn
1841:Aruba
1610:Haiti
1332:(PDF)
1173:(PDF)
1162:(PDF)
1127:(PDF)
906:after
435:Other
397:India
387:China
2702:Saba
2622:and
2560:Peru
2485:Cuba
2026:zone
1695:Saba
1568:Cuba
1531:West
1343:2014
1181:2014
1138:2014
657:him.
300:Lien
1979:Sea
707:up;
372:BVI
94:IVA
74:CVA
2795::
2359:.
2351:.
2331:.
1334:.
1248:^
1221:^
1189:^
1164:.
1146:^
1129:.
1088:^
1076:^
928:or
2406:e
2399:t
2392:v
1469:e
1462:t
1455:v
1345:.
1183:.
1140:.
820:;
810:;
803:;
672:;
532:e
525:t
518:v
26:.
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