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Offshore financial centres (OFCs) have played an increasingly critical role in major transactions, restructurings and insolvencies over the past 10 years as markets generally have become more globalised.
Links between offshore and onshore financial centres
The nature of OFCs means that they generally serve to support the onshore financial centres. OFCs are used by investors operating out of the onshore centres for a number of activities, alongside tax planning, such as raising finance, cheaper access to capital markets and access to highly regarded and reliable legal systems.
In a restructuring or insolvency scenario it is essential to understand the links between the OFCs and the onshore centre to ensure you are able to unlock value either through the offshore structure itself or by ‘looking into’ the underlying onshore investments or assets.
How we can help you
Grant Thornton has a presence in all of the major onshore and offshore financial centres. Our experienced practitioners are able to navigate these environments and provide support on the ground on transactions, restructurings and insolvencies.
Grant Thornton Specialist Services (Cayman) Limited
Grant Thornton Specialist Services (Cayman) Limited is a 100% owned subsidiary of Grant Thornton UK LLP, a member of Grant Thornton International.
Established in the Cayman Islands in 2007, the Cayman team is led by Hugh Dickson. Our staff have over 120 years of experience and include four JIEB licensed insolvency practitioners and eight chartered/certified accountants, all who work exclusively in the insolvency and restructuring fields.
Our team specialises in giving advice and taking formal insolvency appointments in relation to businesses with complex, international affairs as well as local entities or individual insolvency appointments. Our broad experience of insolvency means that we are ideally situated to provide contingency planning advice in relation to any local or cross-border assignments. Our international capabilities and our technical expertise has led to us taking some of the most globally significant insolvency appointments in offshore financial centres in recent years.
The services we offer include the following:
- Creditor advisory
- Debtor advisory
- Compromise agreements
- Global fraud investigations and asset recovery
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