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Receivers can be Appointed over Segregated Portfolios

A recent case in the Grand Court of the Cayman Islands affirmed that a receiver can now be appointed over segregated portfolios.

In a recent case in the Grand Court of the Cayman Islands it was affirmed that where one segregated portfolio of a segregated portfolio company is in financial distress but the other segregated portfolios remain unaffected, the Cayman Islands Companies Act (2022 Revision) provides for the appointment of a receiver to the relevant portfolio, without needing to wind up the whole company.

Before a receiver can be appointed over a segregated portfolio, it must be shown that the relevant segregated portfolio is "insolvent" within the meaning of 224(1) of the Companies Act.

For more information on this topic, reach out to your usual Stuarts attorney or contact Chris Humphries at chris.humphries@stuartslaw.com.

Contact our experts for further advice

Chris Humphries

Managing Director and Head of Funds

Tel:+1 (345) 814-7911

This publication is for general guidance and is not intended to be a substitute for specific legal advice. Specialist advice should be sought about specific circumstances.

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