Restructuring Officer
Restructuring Officer
New reforms to the Companies Act have introduced a formal restructuring regime to the Cayman Islands. Akin to the US Ch. 11 and UK Administration business rescue proceedings, it can be used in its own right or to support proceedings in other jurisdictions.
The filing of a petition for the appointment of a Restructuring Officer (RO) gives a company the benefit of an automatic worldwide moratorium, to allow the company time to consider the best way to restructure its debts.
Although the powers and functions of the RO are set out in the Court order, the overarching role of an RO is to act as an independent, court appointed fiduciary to oversee the restructuring of a company. A RO will assist the Board with their negotiations with stakeholders and monitor the situation to ensure that restructuring remains viable.
Each of Interpath’s senior appointment holders have in excess of 20 years’ experience in international business restructuring. We have deep insights into planning and implementing involved restructurings worldwide, with sensitivity to differing guidelines and governance.
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