Cross-border restructuring and insolvency cases involving offshore centres may well require a mixed range of approaches, tailored to the requirements of the specific jurisdictions.
What role does the “offshore” jurisdiction play when the jurisdiction of incorporation is separated from the assets, information and creditors by geographic and legal boundaries?
Offshore vehicles get a lot of bad press and although they are well known for their use in tax evasion, fraud and corruption these are outweighed by the extensive use of such structures for legitimate reasons. Given the nature of the entities using offshore structures, it is not surprising that the corresponding challenges feature in some of the largest insolvencies and restructurings.
In this article, Hugh Dickson, offshore practice leader, insolvency and restructuring at Grant Thornton Cayman describes the challenges he helps businesses face. Exploring the complexities of cross border insolvencies and restructuring, he outlines some of the limitations to current solutions and how to choose the right option for your business.
To find out more about how our team of specialists can transform value through cross-border solutions in offshore restructuring and insolvency, visit our recovery and reorganisation page or contact Hugh Dickson.
