KelleeOShaughnes
Debt Restructuring In the BVI And Cayman Islands
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, 08-03-2024 at 12:37 PM (1805 Views)
By distinction, with the new regime, administrators have the choice to file a petition for the appointment of a restructuring officer without shareholder decision, no matter whether or not directors have categorical energy to do so underneath the company_s articles. As an added layer of advantage, an extraterritorial moratorium automatically happens at the time of filing the petition for the appointment of the restructuring officer. Therefore the company becomes protected from creditor actions towards it in Cayman or another jurisdiction, removing the threat of creditors seeking to liquidate the corporate. Restrict the applying of Revlon duties, particularly the burden on the board of directors to seek the very best value accessible to stockholders. Be sure that the investor turns into an extended-time period investor in the company. Cannot promote or hedge its publicity to the fairness or other securities of the company for a protracted time frame.
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