Global Restructuring Review launches offshore conference in Cayman



Global Restructuring Review, an international daily news source for cross-border insolvency, restructuring and legal matters, is hosting its first offshore conference in the Cayman Islands on June 12.

Cayman Islands lawyers and insolvency practitioners are invited to attend the event, co-chaired by Laura Hall from Allen and Overy in New York, and Felicity Toube QC of South Square Chambers in London.

The half-day conference, held at the Westin Grand Cayman, will be split into two sessions. The first session will let delegates pitch topics to the co-chairs and expert industry panelists, in the style of the popular BBC TV program Question Time. The second session will examine how Singapore’s recent passage of a host of cutting-edge reforms, in a bid to become an international insolvency hub, may impact the Cayman Islands. The session will address whether there will be increased rivalry between the two centers, and what room there will be for collaboration.

In addition, Carlos Parada Abate, the liquidator and foreign representative of what is alleged to be Chile’s largest-ever Ponzi scheme, is the conference’s keynote speaker. Mr. Parada’s appointment has been recognized by courts in the U.S., U.K., Isle of Man and Australia as he tries to track down assets dispersed all over the world, including on properties in London, Miami and the Caribbean.

“We are delighted to host our first offshore conference in Cayman, and to have secured first-class conference chairs, panelists, sponsors and of course an excellent keynote speaker,” said Kyriaki Karadelis, editor of GRR.

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“The restructuring of offshore drilling group, Ocean Rig, in 2017 really put the Cayman Islands on the map, marking the first time that the Cayman court sanctioned schemes of arrangement promoted by foreign-incorporated companies,” he noted.

“Over the past few years, Cayman has also witnessed the restructurings of several locally incorporated groups with their main operations in Asia, the U.S. and the Middle East, while Chapter 15 applications in the U.S. by Cayman insolvency practitioners have become commonplace. With these factors in mind, we look forward to meeting industry professionals during the conference and exploring these themes further.”

Cayman Islands insolvency and restructuring firm Kalo is one of the event sponsors, in addition to Allen and Overy, Maples, Harneys and Appleby.

Kalo Managing Director Eleanor Fisher said her firm is delighted that GRR is bringing its popular conference format to Cayman, together with leading onshore experts from London, New York and Latin America.

“The Cayman Islands is established and respected as a leading offshore jurisdiction – that is both cooperative with international counterparts and practical in its approach,” she said. “We also have a wealth of experienced professionals here, and we look forward to sharing expertise and knowledge with our international colleagues.”


Via: Cayman Compass

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