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Harneys Happenings

What are the latest “Harneys Happenings”? We are a busy bunch with our Litigation team hailing from Bermuda, BVI, Cayman Islands, Hong Kong and London. Keep up to date with what each office is up to here with Harneys Happenings.  INSOL 2018 – NYC Harneys will be holding the INSOL 5km Fun Run again in

 19+

Learning to Count in Schemes of Arrangement: Part 2

In the first part of this series, we considered the application of the headcount test for members’ schemes of arrangement for listed companies incorporated in the Cayman Islands. In this second and final part, we consider how the headcount test for listed companies can be abused by “share-splitting” and a proposal for reform. Share splitting

 3+

Learning to Count in Schemes of Arrangement: Part 1

In the Cayman Islands, a scheme of arrangement must be approved by a dual majority of those present and voting: a simple majority by number and a 75% majority by value. The intention is to strike a balance between the views of those with the greatest economic interest while preventing smaller investors’ interests from being

 3+

Food for thought: Singapore’s new restructuring laws on rescue financing

Should the BVI, Cayman Islands and Bermuda adopt legislation similar to Singapore’s bold new restructuring laws to permit debtor-in-possession rescue financing? The Singapore Companies (Amendment) Act 2017 introduced significant new tools to enable the rescue of viable but distressed companies. The new toolkit includes rescue financing provisions for schemes of arrangement, similar to DIP financing

 6+

Widening the Goalposts? Unfair Prejudice in Blackpool FC

In a case reaching the national front pages, Mr Justice Marcus Smith, sitting in the Companies Court of the High Court of England, found in favour of petitioning minority shareholder, VB Football Assets, and ordered a buyout of its shares in Blackpool Football Club for £31.27 million.  VB had complained that: 1.     Substantial payments were made

 7+

Harneys Happenings

What are the latest “Harneys Happenings”? We are a busy bunch with our Litigation team hailing from Bermuda, BVI, Cayman Islands, Hong Kong and London. Keep up to date with what each office is up to here with Harneys Happenings.  INSOL 2018 – NYC Harneys will be holding the INSOL 5km Fun Run again in

 19+

Learning to Count in Schemes of Arrangement: Part 2

In the first part of this series, we considered the application of the headcount test for members’ schemes of arrangement for listed companies incorporated in the Cayman Islands. In this second and final part, we consider how the headcount test for listed companies can be abused by “share-splitting” and a proposal for reform. Share splitting

 3+

Learning to Count in Schemes of Arrangement: Part 1

In the Cayman Islands, a scheme of arrangement must be approved by a dual majority of those present and voting: a simple majority by number and a 75% majority by value. The intention is to strike a balance between the views of those with the greatest economic interest while preventing smaller investors’ interests from being

 3+

Food for thought: Singapore’s new restructuring laws on rescue financing

Should the BVI, Cayman Islands and Bermuda adopt legislation similar to Singapore’s bold new restructuring laws to permit debtor-in-possession rescue financing? The Singapore Companies (Amendment) Act 2017 introduced significant new tools to enable the rescue of viable but distressed companies. The new toolkit includes rescue financing provisions for schemes of arrangement, similar to DIP financing

 6+

Widening the Goalposts? Unfair Prejudice in Blackpool FC

In a case reaching the national front pages, Mr Justice Marcus Smith, sitting in the Companies Court of the High Court of England, found in favour of petitioning minority shareholder, VB Football Assets, and ordered a buyout of its shares in Blackpool Football Club for £31.27 million.  VB had complained that: 1.     Substantial payments were made

 7+

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Latest posts

Harneys Happenings

Learning to Count in Schemes of Arrangement: Part 2

Learning to Count in Schemes of Arrangement: Part 1

Food for thought: Singapore’s new restructuring laws on rescue financing

Widening the Goalposts? Unfair Prejudice in Blackpool FC

10 Minutes With: Tom McDonald, Vannin Capital

Grand Court’s refusal of freezing order leaves dissenting shareholders out in the cold

QC Corner: Andrew Ayres QC

Directors’ Duties: Current Developments

Cayman Appraisal Litigation – Keeping your (E-)House In Order!

Recognition or Assistance of Foreign Creditor Schemes of Arrangements in the British Virgin Islands?

London High Court narrows service-out gateways