A new restructuring regime will be available in the Cayman Islands when the amendments to Part V of the Companies Act (2022 Revision) take effect as of August 31, 2022. Among other changes, this new regime will allow a debtor company to restructure under the supervision of a restructuring officer and provide for a worldwide automatic stay.
Committees
BVI Liquidator of a Foreign Company
The International Committee community is continuing to grow! We are excited to introduce and welcome the following new members:
Whether it is the time lag depicted in Future Shock by Alvin Toffler in 1970 or the relativity of time by Yual Hararri in The History of Homo Sapiens, we have never felt the fast pace of a changing world as we are witnessing now.
The International Committee hosted an in-person happy hour social during INSOL London 2022 on June 27 at the conference hotel, the JW Marriott Grosvenor House London. Thank you to everyone who attended to mix-and-mingle with fellow ABI members; we had a blast!
We hope this newsletter finds you enjoying the lazy days of summer and maybe even getting to do some international traveling. Keep reading to hear all the amazing things the International Committee has been up to.
We are pleased to announce that, with the help of ABI’s Karim Guirguis and his team, the Global Insolvency website (globalinsolvency.com) has had numerous updates that will enhance its visibility, add significantly more valuable content, and draw more viewers to the site.
The ABI International Committee is actively soliciting nominations for the First Annual ABI International Committee Matter of the Year Award. The details are set forth below.
Nomination Deadline: September 15, 2022.
Criteria
Each submission should address how the matter (the “Matter”) satisfies the following criteria:
Maximizing value for creditors is one of the paramount objectives of the Canadian insolvency system. Where the value is in a business varies in each situation. Depending on the nature of the business, a debtor company may have crucial licenses or contracts that are not transferrable but are necessary in order to operate.
On March 7, 2022, the U.S. Supreme Court in Estate of Omar Fontana v. ACFB Administração Judicial Ltda.-ME, No. 21-828 (U.S. Mar. 7, 2022), denied a petition for review of a decision by the Eleventh Circuit, In re Transbrasil S.A. Linhas Aéreas, 860 Fed. Appx 166 (11th Cir. 2021).
Ms. Evelyn Meltzer, Esq.
Co-Chair
Troutman Pepper Hamilton Sanders LLP
Wilmington, DE
(302) 777-6532
Co-Chair
Troutman Pepper Hamilton Sanders LLP
Wilmington, DE
(302) 777-6532
Mr. Kyle James Ortiz
Co-Chair
Togut, Segal & Segal LLP
New York, NY
(646) 531-5404
Co-Chair
Togut, Segal & Segal LLP
New York, NY
(646) 531-5404
Mr. Adam Adam Swick
Communications Manager
Akerman LLP
Austin, TX
(737) 999-7103
Communications Manager
Akerman LLP
Austin, TX
(737) 999-7103
Ms. Jennifer Jenkins
Education Director
Mourant
British Virgin Islands,
(284) 852-1709
Education Director
Mourant
British Virgin Islands,
(284) 852-1709
Mr. Ben Sewell
Education Director
Sewell & Kettle Lawyers
Sydney, NSW
(130) 099-6001
Education Director
Sewell & Kettle Lawyers
Sydney, NSW
(130) 099-6001
Ms. Minglei Wu
Membership Relations Director
London, other
447951865880
Membership Relations Director
London, other
447951865880
Mr. Adam D. Crane
Newsletter Editor
Baker & Partners
George Town, Grand Cayman
(345) 745-3651
Newsletter Editor
Baker & Partners
George Town, Grand Cayman
(345) 745-3651
Mr. Evan J. Zucker
Newsletter Editor
Blank Rome LLP
New York, NY
(212) 885-5207
Newsletter Editor
Blank Rome LLP
New York, NY
(212) 885-5207
Mr. Ken Kraft
Special Projects Leader
Dentons Canada LLP
Toronto, ON
(416) 863-4374
Special Projects Leader
Dentons Canada LLP
Toronto, ON
(416) 863-4374