"A company rarely goes over a cliff without leaving a few skid marks"
Insolvency, Liquidations and Restructuring
The Bahamas recently modernised its insolvency legislation to keep pace with international developments and to complement the country's standing as a leading offshore financial services jurisdiction. New legislation introduced under this initiative were the Bahamas Companies (Winding up Amendment) Act, 2011, the Bahamas International Business Companies (Winding Up Amendment) Act, 2011, the Bahamas Insolvency Practitioners Rules, 2012, the Bahamas Companies Liquidation Rules, 2012 and the Bahamas Foreign Proceedings (international Co-operation) Liquidation Rules, 2012. Crowe Bahamas has local and international cross border insolvency experience and accepts appointments acting as Liquidator under both solvent and insolvent scenarios in addition to acting as Receivers for secured lenders. We are also comfortable accepting joint liquidator or receivership appointments with local or non-Bahamian insolvency practitioners on a case by case basis.
Our Partners have been appointed under various insolvency scenarios by the Courts of The Bahamas and can provide general guidance on the overall process involved. We have also accepted numerous appointments as Voluntary Liquidator over solvent entities to facilitate the orderly winding up of the affairs of a company or as part of a global tax planning strategy.
Please contact Andrew Davies for any enquiries
