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开曼群岛企业重组制度改革已经生效 Cayman Islands welcomes introduction of reforms to restructuring regime (Simplified Chinese)

Insight

15 August 2022

Cayman Islands, Hong Kong

1 min read

概述

开曼群岛破产和重组业界迎来了众所期待的企业重组制度的改革。这一系列变更于2022年8月31日开始实施。这些原于2021年发布的改革项目将通过(包括但不限于)以下的方式促进陷入困境的公司有效重组,以惠及其利害关系人:

  1. 保留现有制度的灵活性,包括法院可因应特定情况调整重组官(restructuring officers)权力
  2. 提高重组制度的可及性,包括宽免提交清盘呈请以启动法院监督的重组等程序
  3. 在固有制度下为债权人提供额外保护以促进重组,包括在提交重组呈请后自动暂停在管辖外的其他诉讼
  4. 在条文中保留和规定重要的债权人权利,包括在正常情况下就所有申请收取通知的权利

重组呈请

在新制度下,公司可以基于无法或可能无法偿还债务并打算向债权人提出妥协或相关方案,请求法院任命重组官(重组呈请)。对于寻求重组债务的债务人公司来说,可以预期重组呈请将是一项备受欢迎的措施:

  1. 公司(或“友好”债权人)不再需要提出清盘呈请,避免给债务人公司带来可能的不利声誉和合同后果
  2. 提交重组呈请后会基于公司利益而立即自动暂停其他诉讼(在任命重组官之前)而无需法院许可,包括所有正在外国进行的程序、清盘呈请的提交或清盘公司通过任何新的决议
  3. 容许法院灵活调配重组官的权力,法院可以就包括但不限于与外国公司负责人签订国际协议、召集债权人和股东、财产处分认可、及提供相关公司的财务状况报告等下达命令

新重组制度还为债权人提供了一些重要的保护,其中一些是从固有制度中引进,另一些则在加强了先前的保护。具体如下:

  1. 默认所有重组呈请的宣传和聆讯必须知会利害关系人
  2. 除非法院进一步命令,所有重组呈请应在提交后21天内审理。该规定既有助债务人公司快速有效地寻求救济,同时保护债权人,免其因债务人公司在不推进实质性申请的情况下因法定自动暂停期或未有打算善意重组公司而蒙受损失
  3. 债权人经法院许可,可在重组呈请未决期间提交清盘呈请,在可行情况下该呈请会与重组呈请并列处理。债权人还可以提名其他代名人,或者以其他方式在重组呈请的聆讯上应讯
  4. 新规则规定了债务人公司必须在支持重组呈请的誓章中说明的具体事项,包括确认已进行适当的查询和采纳的建议、公司财务状况的详细信息,以及公司将如何获得资金运作等详细信息。这在某种程度上确保了呈请是真诚的,并且不易受到滥用
  5. 重组官必须在其获任命后28天内向法院报告,这显示法院致力对重组呈请进行密切监督,以监察重组的进展,从而帮助利害相关人避免长期、昂贵且徒劳无功的操作

债务偿还方案

根据重组呈请委任重组官后,为了债务人公司及其利害关系人的利益,新规则采取了一些措施来简化重组过程。具体如下:

  1. 可在重组程序中申请法院核准与债权人或股东达成的妥协或方案,而无需另外根据《公司法》第86条启动独立程序。此次修订将消除重大的财务和行政负担,这特别有助于企业集团的重组
  2. 废除通过“人数测试”的要求。如某股东的方案得到持75%股份的股东通过,则该方案被视为对所有股东具约束力,而不再需要按人数计算的多数股东通过。这对于股份由托管人和许多小股东持有的上市公司特别有帮助

结论

这次对重组制度的改革提高了制度整体的可及性和灵活性,有助开曼群岛的企业以利害关系人的利益为前提更有效地进行重组,同时确保了强而有力的保护措施仍然存在,以确保债权人和股东对重组过程的信心。它还表明开曼群岛致力于发展和优化其立法制度,以满足现代经济中大规模跨境重组不断变化的需求。

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This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

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