Mobile Menu
Articles

A Democratic Solution: Managing the Headcount Test in Schemes of Arrangement Offshore

June 2013 Richard G. Evans

Richard Evans and Rosalind Nicholson, lawyers in the Litigation & Restructuring department in Conyers’ British Virgin Islands office, discuss managing the Headcount test in Schemes of Arrangement offshore in the second quarter issue of INSOL World.

The Scheme of Arrangement (“Scheme”) was introduced into British Virgin Islands law in 2006 and has extended the range of options available to companies under the BVI Business Companies Act 2004, already known for its flexibility. Perhaps because of the stage of the economic cycle at which it was introduced, the principal use of the Scheme in the BVI to date has been in the context of corporate insolvencies, and the Scheme has been welcomed as a creative and efficient mechanism for effecting a compromise between a company and its creditors.

 

To continue reading full articles in PDF format:
A Democratic Solution: Managing the Headcount Test in Schemes of Arrangement Offshore

 


Richard G. Evans
Partner

British Virgin Islands   +1 284 852 1115


This article originally appeared in the second quarter issue of INSOL World and has been republished with permission from the publication.

Accolades
_

"Few firms can come close to Conyers on one critical metric, and this is the breadth of the client base."
- IFLR1000

Related International Markets

British Virgin Islands


Media Contact

For media enquiries, please contact media@conyersdill.com

Articles

A Democratic Solution: Managing the Headcount Test in Schemes of Arrangement Offshore

12 June 2013 Richard G. Evans

Richard Evans and Rosalind Nicholson, lawyers in the Litigation & Restructuring department in Conyers’ British Virgin Islands office, discuss managing the Headcount test in Schemes of Arrangement offshore in the second quarter issue of INSOL World.

The Scheme of Arrangement (“Scheme”) was introduced into British Virgin Islands law in 2006 and has extended the range of options available to companies under the BVI Business Companies Act 2004, already known for its flexibility. Perhaps because of the stage of the economic cycle at which it was introduced, the principal use of the Scheme in the BVI to date has been in the context of corporate insolvencies, and the Scheme has been welcomed as a creative and efficient mechanism for effecting a compromise between a company and its creditors.

 

To continue reading full articles in PDF format:
A Democratic Solution: Managing the Headcount Test in Schemes of Arrangement Offshore

 


Richard G. Evans
Partner

British Virgin Islands   +1 284 852 1115


 

International Office(s)

British Virgin Islands