Chairperson:
Nicholas Fox, Mourant
[email protected]
Martin Trott, RH Restructuring
[email protected]
Directors:
Ilona Groak, Kobre& Kim
[email protected]
Cassandra Ronaldson, Interpath
[email protected]
John Royle, Grant Thornton
[email protected]
Spencer Vickers, Conyers
[email protected]
RISA was established in 2012 and its membership base of insolvency practitioners, lawyers and other ancillary service providers has grown to over 400 members.
Cayman is the leading offshore financial jurisdiction and is the preeminent jurisdiction of choice for private equity and hedge funds and is a popular jurisdiction for, US-, UK- and European-based managers and investors as well as providing a hub for Chinese companies listing on US stock exchanges.
Cayman companies are frequently found in complex, international financing and group structures. Contentious or insolvent appointments in Cayman require court-approved and qualified insolvency experts with local knowledge and international expertise. Such appointments are supervised by the Financial Services Division of the Grand Court of the Cayman Islands. RISA is focused on the development and representation of the insolvency and restructuring profession in the Cayman Islands as well as providing a forum for networking and maintaining relationships within the profession.
Events organised by RISA have a focus on education, and RISA hosts a quarterly technical session as well as contributes to the newly established Cayman Introductory course.. Networking and other events
include an annual charity golf day and a Christmas event. More recently, a NextGen group has launched with a focus on providing a networking framework for members under the age of 40.
One of RISA’s core purposes is promoting the Cayman jurisdiction as a whole and providing education / technical content to its members with the goal of ever enhancing and improving the quality of practitioners. With that in mind, RISA have, with great pleasure, collaborated with INSOL to launch an exciting introductory programme which commenced in March 2023. The introductory programme will provide participants with a high-level overview of the entire Cayman Islands restructuring and insolvency legislation, processes and topical case law. Graduates who complete the course will receive an introductory certificate in insolvency law and practice in the Cayman Islands. The course is aimed at new insolvency professionals to the market or overseas practitioners considering a relocation to the Cayman Islands. The course does not grant delegates the ability to either practice law or become a qualified insolvency practitioner in the Cayman Islands.
The primary legislation is the Companies Act (as revised) and Companies Winding up Rules. This legislation takes into account the nuances and specialisms of fund structures and a RISA representative sits on the Insolvency Rules Committee.
Cayman insolvencies are frequently cross-border in nature, commonly involving recognition proceedings the USA, the UK, Hong Kong and other major financial centres.
RISA Cayman membership is not limited to Cayman residents, but to be eligible for general membership, you must demonstrate significant engagement in, and experience of, Cayman-based restructuring, litigation and insolvency matters.