Whether it relates to illiquid investments or positions impacted by litigation or insolvency proceedings, a significant number of entities currently sit in a state of limbo and continue to incur unnecessary costs without an effective strategy for winding down.

There are a number of factors that motivate fund directors, investment managers and general partners to explore wind down alternatives. Deloitte can tailor a solution that will address the needs of stakeholders while maximizing the value returned to investors.

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Voluntary Liquidation is a legal process to terminate or ‘wind up’ the operation of a solvent entity in accordance with legislative requirements. Considerable cost savings can often be achieved by placing an entity into Voluntary Liquidation, for example, by terminating service provider relationships which are no longer needed and by eliminating the need to pay ongoing annual filing and registration fees.

Deloitte Cayman's voluntary liquidation services span from a straightforward closure of hedge funds with no assets or liabilities to providing restructuring advice and solutions for funds with illiquid assets and contingent liabilities.

Our restructuring professionals have a wide variety of experience dealing with complex business structures and extensive knowledge of alternative investment fund structures. We understand the need to deliver a timely and cost effective voluntary liquidation product to our clients. We have a dedicated team having experience in performing voluntary liquidations for financial services companies, hedge funds, partnerships and trust structures. 

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Insolvency is much maligned as being “the end of the road” for businesses. Whilst that can be the case in certain circumstances, other court appointed solutions, such as provisional liquidations, can provide relief and facilitate the restructuring and emergence of a viable business.

Inevitably there are times when an entity’s financial problems are become too severe or there are stakeholder disputes that cannot be resolved. In these circumstances, a court supervised liquidation may be the only option. Understanding when and how to utilize each solution is a fundamental part of restructuring and requires technically proficient and experienced practitioners.

Our qualified Deloitte insolvency professionals have a wide variety of experience acting as both Court appointed Provisional or Official Liquidators and dealing with the associated complexities in dealing with cross-border disputes. Typically we manage multi-faceted litigations, complex asset disposals and the relationships with service providers and stakeholders.

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The Cayman Islands Companies Act (as revised) provides for the appointment of a Restructuring Officer regime, which can be utilised by debtor companies who wish to pursue a restructuring. A company may present a petition to the Grand Court of the Cayman Islands (the “Court”) for the appointment of a Restructuring Officer on the grounds that i) the company is or is likely to become unable to pay its debts, and ii) it intends to present a compromise or arrangement to its creditors.

Deloitte has a significant network of over 2,500 restructuring professionals, who can support you seamlessly across jurisdictions and industries. Our restructuring professionals are qualified to serve as Restructuring Officers and can guide you through every step of the process to ensure that the restructuring has the best possible chance of success and that the process goes quickly, smoothly and is cost effective.

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Considerations for lenders whose customers have stressed or distressed refinancing requirements and how Deloitte can assist. 

• Independent Advisor to lenders - review and assess borrowers’ submissions;
• Review borrowers’ trading/cash flows - test, challenge key assumptions, assist with scenario modelling and cash flow forecasting;
• Review borrowers’ existing facilities - assess borrowing capacity and sufficiency of existing and new collateral;
• Assist customers with financing proposal - assist with preparation of financing proposal in line with lenders’ expectations;
• Assess the loan portfolio - use analytical tools to critically assess potential vulnerabilities in the loan book to assist with proactive mitigation of pending risks.

Controllerships arise from regulator intervention. Our dedicated professionals have experience working closely with regulators and possess deep industry knowledge and situational experience. Receiverships empower secured creditors to enforce the security over their assets.

Our team of experienced professionals possess in-depth knowledge and expertise acting as receivers. We understand the complexities of the process and can guide you through every step of the process to ensure the highest likelihood of success.  We are committed to delivering a swift, smooth, and cost-effective experience for our clients.

Learn more about our Controllerships and Receiverships services