ICR: US Court and Cayman Islands Court: Sharing Jurisdiction in the Interests of Comity

22 January 2015 . 8 min read

Introduction

This article first appeared in Volume 12, Issue 1. of International Corporate Rescue, published by Chase Cambria Publishing.

Gary Smith reviews the decision of the United States Bankruptcy Court Southern District of New York in re: Soundview Elite, Ltd., et al., Debtors (Case No. 13-13098 (REG)) as another good example of the willingness of the US courts to share jurisdiction in the interests of comity in cross border insolvency cases.

Download Full PDF Version

 

Share to WeChat

“Scan QR Code” in WeChat and tap ··· to share.

QR Code

Latest Updates and Insights

View All
Cayman Islands: Minority shareholder rights and corporate governance: the implications of the judgment in Tianrui (International) Holding Company Ltd v China Shanshui Cement Group Ltd
INSIGHTS | 16 December 2024

Cayman Islands: Minority shareholder rights and corporate governance: the implications of the judgment in Tianrui (International) Holding Company Ltd v China Shanshui Cement Group Ltd

The recent Privy Council ruling in Tianrui (International) Holding Company Ltd v China Shanshui Cement Group Ltd [2024] UKPC 36 has significant implications for Cayman Islands company law, insofar as the judgment clarifies critical principles governing derivative actions and the rights of shareholders (including minority shareholders) to bring...
Intellectual Property in the Cayman Islands and the BVI
INSIGHTS | 05 December 2024

Intellectual Property in the Cayman Islands and the BVI

The protection of intellectual property (IP) rights in the Cayman Islands and in the British Virgin Islands (BVI) depends on the type of IP right (e.g. trademarks, patents and designs). The Cayman Islands and the BVI are British Overseas Territories and so the nature of IP protection in...
Enforcement of Foreign Judgments and Arbitration Awards in the British Virgin Islands
INSIGHTS | 15 November 2024

Enforcement of Foreign Judgments and Arbitration Awards in the British Virgin Islands

The British Virgin Islands (“BVI”) is a very user-friendly jurisdiction for enforcing foreign judgments and arbitral awards.
Preference shares and redemption rights in the Cayman Islands – an overview
INSIGHTS | 14 November 2024

Preference shares and redemption rights in the Cayman Islands – an overview

It has become increasingly popular in recent years for venture capital (VC) and private equity (PE) firms to set up exempted companies limited by shares in the Cayman Islands for the purposes of pre-IPO equity financing rounds.