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Jonathan Addo
Jonathan Addo
  • Jonathan Addo

  • Partner
  • British Virgin Islands
Jeremy Child
Jeremy Child
  • Jeremy Child

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Stuart Cullen
Stuart Cullen
  • Stuart Cullen

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Julie Engwirda
Julie Engwirda
  • Julie Engwirda

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Peter Ferrer
Peter Ferrer
  • Peter Ferrer

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  • British Virgin Islands
Claire Goldstein
Claire Goldstein
  • Claire Goldstein

  • Partner
  • British Virgin Islands
Hazel-Ann Hannaway
Hazel-Ann Hannaway
  • Hazel-Ann Hannaway

  • Partner
  • British Virgin Islands
Nick Hoffman
Nick Hoffman
  • Nick Hoffman

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  • Cayman Islands
Andrew Johnstone
Andrew Johnstone
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Paula Kay
Paula Kay
  • Paula Kay

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Phillip Kite
Phillip Kite
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Vicky Lord
Vicky Lord
  • Vicky Lord

  • Partner
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Paul Madden
Paul Madden
  • Paul Madden

  • Partner
  • Cayman Islands
Henry Mander
Henry Mander
  • Henry Mander

  • Partner
  • Cayman Islands
Ian Mann
Ian Mann
  • Ian Mann

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William Peake
William Peake
  • William Peake

  • Partner
  • London
Lorinda Peasland
Lorinda Peasland
  • Lorinda Peasland

  • Consultant
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Chai Ridgers
Chai Ridgers
  • Chai Ridgers

  • Partner
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Nicola Roberts
Nicola Roberts
  • Nicola Roberts

  • Partner
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  • Singapore
Paul Smith
Paul Smith
  • Paul Smith

  • Partner
  • Cayman Islands
Andrew Thorp
Andrew Thorp
  • Andrew Thorp

  • Partner
  • British Virgin Islands
Jessica Williams
Jessica Williams
  • Jessica Williams

  • Partner
  • Cayman Islands
Jayson Wood
Jayson Wood
  • Jayson Wood

  • Partner
  • Cayman Islands

HOT OFF THE PRESS: The Cayman Islands adopt a global approach to cross border communication and co-operation

In a welcome Practice Direction on 30 July 2018, the Cayman Islands adopted the use of the JIN Guidelines (defined below) in cross border insolvency and restructuring cases (joining Bermuda and the BVI) and the use of the American Law Institute (ALI) / International Insolvency Institute (III) Guidelines Applicable to Court to-Court Communications in Cross-Border Cases (the American Guidelines).

The Guidelines

In October 2016, judges from 10 different jurisdictions, including the Cayman Islands, met in Singapore for the inaugural Judicial Insolvency Network Conference. The result was the Judicial Insolvency Network Guidelines for Cooperation in Cross-Border Insolvency Matters (the JIN Guidelines). The JIN Guidelines were designed primarily to enhance communication between courts, insolvency representatives and other parties in the context of global restructurings and insolvency.

The American Guidelines were developed from the Transnational Insolvency Project (1993-2000) led by the ALI and the III to provide a nonstatutory basis for cooperation in international insolvency cases involving two or more of the NAFTA states’’.  The project was led by judges, lawyers and academics from the NAFTA countries.

Both Guidelines aim to enhance coordination and harmonisation of cross-border insolvency proceedings and, whilst there are differences, are broadly similar. 

Applying and Incorporating the Guidelines

The Guidelines apply to insolvency or restructuring proceedings that are supervised by, or involve related applications to, courts in more than one jurisdiction.  This includes schemes of arrangement relating to a company being supervised by the Grand Court that also involve a parallel scheme or ancillary proceedings in another jurisdiction.

Cayman Islands appointed officeholders should now consider, at the earliest opportunity, whether to incorporate some or all of the Guidelines with suitable modifications either through an international protocol approved by the Grand Court, or by an order of the Grand Court.  Order 21 of the Companies Winding Up Rules already imposes a duty on official liquidators (appointed under Part V of the Companies Law (2018 Revision)) to consider whether it is appropriate to enter into an international protocol with a foreign officeholder.

The long awaited introduction of cross border communication and co-operation guidelines in the Cayman Islands has brought the Cayman Islands to the forefront of the global stage, providing its officeholders with flexibility whilst maintaining the integrity of its judicial system.

 

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