Mark Goodman An Interview with... The Cayman Islands: A Premier Jurisdiction for Insolvency and Restructuring in Investment Funds 50 LAWYER MONTHLY DECEMBER 2024 In the ever-evolving landscape of global finance, the Cayman Islands has established itself as a premier jurisdiction for handling complex insolvency and restructuring cases, particularly for investment funds. With its robust legal framework, creditor-friendly system, and deep expertise in cross-border insolvency matters, the jurisdiction offers unparalleled advantages for investors and practitioners alike. In this exclusive interview, Mark Goodman, Partner at Campbells, provides expert insights into the key features that make the Cayman Islands so attractive for insolvency and restructuring, explores how the legal system addresses cross-border challenges, and discusses the impact of recent economic shifts on the investment fund sector. Through his extensive experience, Mark sheds light on the latest trends, strategies, and considerations for clients navigating the complex world of insolvency and restructuring in the Cayman Islands. What makes the Cayman Islands an attractive jurisdiction for handling insolvency and restructuring cases, particularly for investment funds? As a leading global financial centre, the Cayman Islands benefits from a stable regulatory regime, a legal system modelled on English law, and an independent judiciary, with the court of final appeal being the Judicial Committee of the Privy Council in the UK. Well-drafted statutes are supplemented by well-established principles of common law found in local case law, as well as in judgments from courts in the UK and other Commonwealth nations. The Cayman Islands’ legal system, particularly as it relates to insolvency and restructuring cases, is highly developed. The Grand Court of the Cayman Islands has a Financial Services Division, which ensures that a judge with relevant experience, usually gained in private practice, is specifically assigned to a case until its conclusion. The Cayman Islands’ legal system is creditor-friendly, in that creditors of an insolvent entity are generally Contact Mark Goodman Partner, Campbells Floor 4, Willow House, Cricket Square, Grand Cayman KY1-9010, Cayman Islands BVI: +1 284 340 6159 | Cayman: +1 345 525 5898 Email: mgoodman@campbellslegal.com www.campbellslegal.com
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