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Industry Updates

Cayman Islands Voluntary Liquidations

14 Nov 2013

With 2014 almost upon us, now is the time to start planning the liquidation of Cayman Islands entities that have reached the end of their life cycle to ensure that unnecessary 2014 fees are not incurred.

In order to prevent annual government registration fees being incurred the liquidator is required to hold the final general meeting for a company and file the final dissolution notice for an exempted limited partnership before 31 January 2014. Funds that are registered with the Cayman Islands Monetary Authority (“CIMA”) will need to complete these steps by 31 December 2013 if they are to avoid their annual CIMA license fee.

Generally, for a straightforward voluntary liquidation of a Cayman Islands company, Maples Liquidation Services can complete the formal statutory process within 5-6 weeks. To assist you in preparing your entities for liquidation and for information on the statutory process, please click here to read the legal guide from our affiliate, Maples and Calder, entitled Voluntary Liquidations of Solvent Cayman Islands Companies.

Maples Liquidation Services has a team of dedicated and experienced professionals and is one of the largest voluntary liquidation teams in the Cayman Islands. The members of the team have extensive experience in the dissolution of various structured finance and investment vehicles.

Please do not hesitate to contact one of the individuals listed below who would be happy to answer any questions you may have or provide a formal ‘fixed fee’ proposal.