Over the past few articles in this series, we have explored several key aspects of corporate insolvency and business closure in the Cayman Islands. We started by looking at statutory demands and what they can mean for companies facing creditor pressure. We then examined the differences between voluntary liquidation and strike-off, before discussing winding-up petitions and the circumstances in which a court may order a company to be wound up.
While those articles focused on processes that often signal the end of a company’s journey, this final instalment looks at a different possibility: recovery. Not every company experiencing financial difficulties needs to close its doors. In some cases, a business may remain fundamentally…