{"id":407,"date":"2024-07-06T16:14:14","date_gmt":"2024-07-06T16:14:14","guid":{"rendered":"https:\/\/cedsto3.dreamhosters.com\/mbh\/the-international-insolvency-restructuring-review-2021-22\/"},"modified":"2024-07-07T01:03:08","modified_gmt":"2024-07-07T01:03:08","slug":"the-international-insolvency-restructuring-review-2021-22","status":"publish","type":"post","link":"https:\/\/cedsto3.dreamhosters.com\/mbh\/the-international-insolvency-restructuring-review-2021-22\/","title":{"rendered":"The International Insolvency &#038; Restructuring Review 2021\/22"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-6s1t3-076500b4cbbfd3722d3c768fb9bc3efa\">\n.avia-section.av-6s1t3-076500b4cbbfd3722d3c768fb9bc3efa{\nbackground-color:#3d3d3d;\nbackground-image:url(https:\/\/cedsto3.dreamhosters.com\/mbh\/wp-content\/uploads\/2024\/07\/page-resource-bg.jpg);\nbackground-repeat:no-repeat;\nbackground-position:50% 0%;\nbackground-attachment:scroll;\n}\n<\/style>\n<div id='av_section_1'  class='avia-section av-6s1t3-076500b4cbbfd3722d3c768fb9bc3efa main_color avia-section-no-padding avia-no-border-styling  avia-builder-el-0  el_before_av_section  avia-builder-el-first  avia-full-stretch avia-bg-style-scroll av-minimum-height av-minimum-height-60 av-height-percent  container_wrap fullsize'  data-section-bg-repeat='stretch' data-av_minimum_height_pc='60' data-av_min_height_opt='percent'><div class='container av-section-cont-open' ><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-407'><div class='entry-content-wrapper clearfix'>\n<div class='flex_column_table av-1rengv-2d51aa8e92d1d363e561d45f80e10ce3 sc-av_three_fifth av-equal-height-column-flextable'><div  class='flex_column av-1rengv-2d51aa8e92d1d363e561d45f80e10ce3 av_three_fifth  avia-builder-el-1  el_before_av_two_fifth  avia-builder-el-first  first flex_column_table_cell av-equal-height-column av-align-bottom  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332\">\n#top .av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332{\npadding-bottom:10px;\ncolor:#ffffff;\nfont-size:42px;\n}\nbody .av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 .av-special-heading-tag{\nfont-size:42px;\n}\n.av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 .special-heading-inner-border{\nborder-color:#ffffff;\n}\n.av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-lyau7jg3-2a164caa0f33c22e09c5a3a6f6b3e332 av-special-heading-h1 custom-color-heading blockquote modern-quote  avia-builder-el-2  avia-builder-el-no-sibling  av-inherit-size'><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >The International Insolvency <span class='special_amp'>&amp;<\/span> Restructuring Review 2021\/22<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><\/div><div class='av-flex-placeholder'><\/div><div  class='flex_column av-1j4el3-15ffa1ff64551864528e921064ac2660 av_two_fifth  avia-builder-el-3  el_after_av_three_fifth  avia-builder-el-last  flex_column_table_cell av-equal-height-column av-align-bottom  '     ><\/div><\/div><!--close column table wrapper. Autoclose: 1 -->\n\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><div id='av_section_2'  class='avia-section av-1dsur3-52a39c1c2abcd9cb66283a4acc2872cf main_color avia-section-default avia-no-border-styling  avia-builder-el-4  el_after_av_section  el_before_av_section  avia-bg-style-scroll container_wrap fullsize'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-407'><div class='entry-content-wrapper clearfix'>\n<div class='flex_column_table av-17xowf-458e83f8783487856de075f25cbcca55 sc-av_four_fifth av-equal-height-column-flextable'>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-17xowf-458e83f8783487856de075f25cbcca55\">\n.flex_column.av-17xowf-458e83f8783487856de075f25cbcca55{\nbackground-color:#ffffff;\n}\n<\/style>\n<div  class='flex_column av-17xowf-458e83f8783487856de075f25cbcca55 av_four_fifth  avia-builder-el-5  el_before_av_three_fourth  avia-builder-el-first  first flex_column_table_cell av-equal-height-column av-align-bottom  '     ><p><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-wruun-9b3ac3ae32bd04718109fefb2940c8e5\">\n#top .hr.hr-invisible.av-wruun-9b3ac3ae32bd04718109fefb2940c8e5{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-wruun-9b3ac3ae32bd04718109fefb2940c8e5 hr-invisible  avia-builder-el-7  el_after_av_codeblock  avia-builder-el-last '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><\/p><\/div><\/div><!--close column table wrapper. Autoclose: 1 --><div class='flex_column_table av-2wa67-db1a54ff2d0714204fc7f116b28d72e5 sc-av_three_fourth av-equal-height-column-flextable'>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2wa67-db1a54ff2d0714204fc7f116b28d72e5\">\n.flex_column.av-2wa67-db1a54ff2d0714204fc7f116b28d72e5{\nbackground-color:#ffffff;\n}\n<\/style>\n<div  class='flex_column av-2wa67-db1a54ff2d0714204fc7f116b28d72e5 av_three_fourth  avia-builder-el-8  el_after_av_four_fifth  el_before_av_one_fourth  first flex_column_table_cell av-equal-height-column av-align-bottom  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lyau7nfx-2cbb80c1e251809495e78211f9731446\">\n#top .av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446{\npadding-bottom:10px;\ncolor:#020202;\nfont-size:38px;\n}\nbody .av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446 .av-special-heading-tag{\nfont-size:38px;\n}\n.av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446 .special-heading-inner-border{\nborder-color:#020202;\n}\n.av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-lyau7nfx-2cbb80c1e251809495e78211f9731446 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-lyau7nfx-2cbb80c1e251809495e78211f9731446 av-special-heading-h1 custom-color-heading blockquote modern-quote  avia-builder-el-9  el_before_av_textblock  avia-builder-el-first  av-inherit-size'><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >The International Insolvency <span class='special_amp'>&amp;<\/span> Restructuring Review 2021\/22<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-lyau856b-b06d87d44ece04c248326faf6b9a3c90 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>The insolvency legislation in The Bahamas<\/p>\n<p>In 2011 and 2012 the insolvency legislation in The Bahamas was completely revamped by the enactment of the following Act and Rules:<\/p>\n<p style=\"padding-left: 40px;\">(i) The Companies (Winding Up Amendment) Act, 2011;<br \/>\n(ii) The International Business Companies (Winding Up Amendment) Act, 2011;<br \/>\n(iii) The Companies Liquidation Rules, 2012 (the \u201cCLR\u201d);<br \/>\n(iv) The Insolvency Practitioners\u2019 Rules, 2012; and (v) The Foreign Proceedings (International Cooperation) Liquidation Rules, 2012.<\/p>\n<p>The procedure for the liquidation of companies incorporated under the Companies Act of 1992 (as amended by the Companies (Winding Up Amendment) Act, 2011, the \u201cCompanies Act\u201d) and under the International Business Companies Act of 2000 (the \u201cIBC Act\u201d) is now almost identical in that section 89 of the IBC Act (as amended) states that \u201c[a] company incorporated under this Act may be wound up under any of the circumstances, insofar as they are applicable to a company incorporated under this Act, in which a company incorporated under the Companies Act, Ch. 308 may be wound up and subject to the provisions of this Part the provisions of the Companies Act relating to winding up and dissolution shall apply mutatis mutandis to the winding up and dissolution of the company\u201d. Accordingly, the CLR apply to both types of company.<\/p>\n<\/div><\/section><br \/>\n<div  class='avia-button-wrap av-lyau8a1p-fdbb724db098ad84ee331574d84f7673-wrap avia-button-left  avia-builder-el-11  el_after_av_textblock  avia-builder-el-last '><a href='https:\/\/cedsto3.dreamhosters.com\/mbh\/wp-content\/uploads\/2024\/07\/Bahamas.pdf'  class='avia-button av-lyau8a1p-fdbb724db098ad84ee331574d84f7673 av-link-btn avia-icon_select-yes-right-icon avia-size-large avia-position-left av-icon-on-hover avia-color-theme-color'  target=\"_blank\"  rel=\"noopener noreferrer\" ><span class='avia_iconbox_title' >DOWNLOAD PDF<\/span><span class='avia_button_icon avia_button_icon_right' aria-hidden='true' data-av_icon='\ue879' data-av_iconfont='entypo-fontello'><\/span><\/a><\/div><\/p><\/div><div class='av-flex-placeholder'><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ngqt3-47254e4930685b0c0603d9178d8d0ce4\">\n.flex_column.av-ngqt3-47254e4930685b0c0603d9178d8d0ce4{\nbackground-color:#ffffff;\n}\n<\/style>\n<div  class='flex_column av-ngqt3-47254e4930685b0c0603d9178d8d0ce4 av_one_fourth  avia-builder-el-12  el_after_av_three_fourth  avia-builder-el-last  flex_column_table_cell av-equal-height-column av-align-bottom  '     ><\/div><\/div><!--close column table wrapper. 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