Introduction

Statutory assistance

Guernsey

Cayman Islands

Companies Law (2018 Revision)

1. recognising the right of a foreign representative to act in the Cayman Islands on behalf of or in the name of the foreign company;
2. enjoining the commencement or staying the continuation of legal proceedings against the foreign company;
3. staying the enforcement of any judgment against the foreign company;
4. requiring a person in possession of information relating to the business or affairs of the foreign company to be examined by and produce documents to its foreign representative; and
5. ordering the turnover to the foreign representative of any property belonging to the foreign company.
6. the just treatment of all holders of claims or interests in the foreign company's estate wherever they may be domiciled;
7. the protection of claim holders in the Cayman Islands against prejudice and inconvenience in the processing of claims in the foreign bankruptcy proceeding;
8. the prevention of preferential or fraudulent dispositions of property comprised in the foreign company's estate;
9. the distribution of the foreign company's estate amongst creditors substantially in accordance with the order prescribed by Part V of the Companies Law (i.e. the order of distribution applicable to a liquidation commenced in the Cayman Islands);
10. the recognition and enforcement of security interests created by the foreign company;
11. the non-enforcement of foreign taxes, fines and penalties; and
12. comity.