Introduction

Walkers' global insolvency and dispute resolution group (the "IDR Group") is internationally recognised and has been ranked as having the premier insolvency, restructuring and dispute resolution team amongst the leading law firms for advising on offshore jurisdictions. Walkers has the largest team in the Cayman Islands with 24 lawyers including nine partners with around 100 attorneys including 32 partners across 10 international locations.

Walkers has a dedicated restructuring and insolvency practice in each of its 10 offices, strategically opened in key locations around the world, which offer Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Irish and Jersey legal advice on all aspects of restructuring, insolvency, corporate recovery, litigation and dispute resolution. Each of the firm's 10 offices are staffed with exceptional insolvency, restructuring and dispute resolution lawyers. The depth of experience and expertise the Walkers IDR Group has across all offices is designed to complement the experience and expertise that so many of the onshore firms with whom the IDR Group work with on a daily basis also have. In addition, the bespoke geographical footprint of the firm's offices enables Walkers to be well-placed to provide seamless first class legal services and top tier advice to clients, in real time, on a 24 hour basis. We believe this cohesive and collaborative culture helps us stand out from our offshore competitors.

The vast majority of restructuring and/or insolvency matters Walkers are instructed on are multi-jurisdictional and require the IDR Group to work seamlessly with other law firms and with insolvency practitioners and stakeholders located all over the world. With the most ranked lawyers and internationally recognised thought-leaders in dispute resolution, asset recovery and/or restructuring and insolvency in global leading directories, Walkers frequently plays a leading role in some of the most complex, ground breaking, cross-border cases that involve the Cayman Islands and regularly specialises in contentious and noncontentious insolvencies, distressed situations and cross border restructurings.

Recent high-profile matters:

  • Abraaj: Walkers acts as Cayman Islands legal counsel in respect of four sets of related proceedings commenced in the Grand Court of the Cayman Islands ("Grand Court") in connection with the wider Abraaj Group fraud that has been reported on extensively in global media outlets
  • Avivo Group: Walkers acted as Cayman Islands legal counsel to Avivo Group in respect of its successful opposition to a motion for the appointment of inspectors to examine into and report on the affairs of Avivo Group at the behest of a minority shareholder. This case is one of the first reported decisions of the Grand Court setting out the circumstances in which the Grand Court will appoint inspectors pursuant to section 64 of the Cayman Islands Companies Act (as amended).
  • LATAM Airlines Group: Walkers acts as Cayman Islands legal counsel to LATAM Airlines group. Each Cayman Debtor successfully applied for the appointment of provisional liquidators in the Cayman Islands by way of parallel proceedings to Chapter 11 proceedings in the United States. Walkers also acts for the provisional liquidators of each of the Cayman Debtors.
  • MIE Holdings Corporation: Walkers acted as Cayman Islands legal counsel in respect of the successful crossborder debt restructuring of MIE implemented by way of a Cayman Islands scheme of arrangement within a Cayman Islands 'light touch' provisional liquidation process together with consensual and inter-conditional agreements in relation to the restructuring of certain loan facilities.
  • Oriente Group Limited: Walkers acted as Cayman Islands legal counsel to Oriente Group Limited in respect of its successful petition for the appointment of restructuring officers, being the very first restructuring officer petition to be heard by the Grand Court following the new Cayman Islands restructuring officer regime coming into force on 31 August 2022.
  • Saad: Over the last decade Walkers has successfully represented the official liquidators of Saad Investments, Singularis and 7 other Saad Group entities in multi-billion dollar claims against director, Maan Al Sanea, and in their defences in the Ahmad Hamad Algosaibi & Brothers v Saad proceedings. Walkers continue to act in the official liquidations and related proceedings in respect of those entities.

Walkers and IWIRC:

Walkers is led by Global Managing Partner, Ingrid Pierce, who is based in the Cayman Islands office of Walkers. The senior management team is equally balanced between male and female with the gender split being almost 50:50. There are 6 female partners currently in the IDR Group with over 50% of female attorneys in the IDR Group globally. Walkers is committed to the advancement of women in the restructuring and insolvency sphere. IWIRC, with its extensive global network of members and learning and development programmes, forms an essential part of our mission to nurture and advance female talent.

In the Cayman Islands, IWIRC Cayman has been a fundamental part of Walkers' culture since the network was established in 2011, with Colette Wilkins K.C. (Partner and now head of Walkers IDR in Hong Kong – having relocated in 2022) being one of the founding members Fiona MacAdam (Partner, Cayman Islands) acting as the Chair of IWIRC Cayman Islands from 2020 to 2022 (having been on the IWIRC Cayman Board since 2015) and Siobhan Sheridan (Associate, Cayman Islands), a member of the sub-committee for events. Walkers was proud of the Cayman Islands Network having been chosen in 2022 as the recipient of the Ryan Award for Outstanding IWIRC Network of the Year.

In Hong Kong, Michaela Lam (Counsel, Hong Kong) acted as Co-Chair of IWIRC Hong Kong for 2021 (having been on the IWIRC Hong Kong Board since 2018) and Joanne Collett (Partner, Hong Kong) was the 2020 recipient of the IWIRC Fetner Award, which is awarded to a member for exemplary service to IWIRC.

In the Channel Islands, Sarah Brehaut (Partner, Guernsey) acts as Co-Chair on the inaugural Board of the IWIRC Channel Islands Network and Helena Lavin (Senior Counsel, Guernsey) acts as Secretary (who were both instrumental in the establishment of the IWIRC Channel Islands Network). The Channel Islands Network was the 53rd network to join IWIRC.

In Dubai, Cate Barbour (Senior Counsel, Dubai) and Tania Diab (Associate, Dubai) have been instrumental in the forthcoming establishment of the IWIRC Dubai Network.

In London, Jennifer Maughan (Senior Counsel, London) is on the board for the IWIRC Europe Network and a Committee Member at Large

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