December 2019 | By Sophia Rolle-Kapousouzoglou
Americas Restructuring Review 2020
Americas Restructuring Review 2020 has been published by the GRR (Global Restructuring Review). Partner Sophia Rolle-Kapousouzoglou contributed The Bahamas chapter.
A PDF copy of the full chapter and guide is available here: PDF copy
In summary
The chapter provides a summary on the current position under Bahamian law as it relates to the extraterritorial reach of clawback claims, winding up of mutual funds on just and equitable grounds, anti-suit injunctions, recognition and assistance in cross-border proceedings and the recognition of a foreign court-appointed receiver and the appointment of provisional liquidators.
Discussion points
- The Privy Council has determined clawback claims can be served outside of the jurisdiction on a foreign creditor
- The Companies Winding Up Amendment Act 2011 has modernised Bahamian insolvency laws
- International cooperation has been extended by virtue of the Foreign Proceedings (International Cooperation Rules) 2012
- Foreign court-appointed receivers can be recognised In the Bahamas, which may occur also in the context of enforcement of foreign judgments