Guide to Cayman Islands mergers and consolidations

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The Cayman Islands’ statutory merger regime is set out in the Companies Act (the Companies Act) and the Limited Liability Companies Act (the LLC Act) which provide a process for ‘merger’ or ‘consolidation’ of companies. A ‘merger’ is where the assets, rights, obligations and liabilities of two or more companies are assumed by one of those entities and ‘consolidation’ is where the assets, rights, obligations and liabilities of two or more companies are assumed by a new Cayman Islands company, in each case without requiring court approval.