An arrangement for any occasion - how plans of arrangement are being used to restructure in the BVI
The macro-economic conditions in the period since 2008 and the attendant liquidity crisis have left many companies treading in increasingly deep and treacherous financial waters. Such companies, particularly those with operations or substantial holdings in mature markets directly affected by the reduced availability of credit, have found themselves searching for time and cost-effective mechanisms to address illiquid assets, mounting debt, increasing costs and declining revenue while seeking to capitalise on opportunities, especially in emerging markets, with a view to increased productivity and higher profits.
A plan of arrangement under the Business Companies Act 2004 in the BVI is increasingly being used by corporates to restructure with the aid of the courts. Harneys’ Jacqueline Daley-Aspinall (pictured first) and Keisha Durham (pictured second) explain
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