Lainston carries out restructurings and liquidations of all types. We assist solvent entities with restructuring that enables takeovers and mergers as well as those entities that need to close their operations quickly and efficiently, whilst adhering to Cayman Islands laws. We help operations wind-down by guiding companies and hedge funds through the Cayman process for voluntary liquidations and strike offs.
To carry out a voluntary liquidation in the Cayman Islands, a company must fit the mandated criteria for solvency. This means the company can pay all debts plus interest for up to a year, or that it receives support from an outside entity. Alternatively, if an entity has never traded, or has not traded for at least two years, it may request to strike the company from the Registrar of Companies if it does not have liabilities or assets.
From the early stages of gathering financial information to receiving the final liquidation notice, our team offers expert advice and handles all aspects of the liquidation process. We help with creditor list preparation, director/shareholder resolutions and declaration signature requirements. We offer dissolution services to entities that are managed by our firm as well as to those that are not.