{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F757460f1-fff5-401a-9407-7d2ce6ab6476","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"5 Schemario Rules","description":"Introducing R&I over Wi-Fi, Harneys\u2019 newest podcast series. Taking a deep dive into the various strategies and tactics you can take when faced with a restructuring, while keeping you up to date on emerging and critical issues surrounding restructuring and insolvency. \n\nKey Takeaways: \n\nA cross-border restructuring of an offshore company needs to ensure that the compromise which is effective in one jurisdiction also has practical effect in all other jurisdictions in which the company holds assets. \nThe steps required to give practical effect to any particular restructuring are necessarily fact sensitive and will depend on the precise nature of the compromises implemented by the restructuring process. \nThe starting point in any debt restructuring is the \u201cGibbs Rule\u201d which provides that where a debt is governed by the law of a particular jurisdiction, it cannot be compromised by a foreign insolvency proceeding unless the creditor submitted to that foreign proceeding. \nThe commercial imperative is to ensure that a disgruntled creditor cannot undermine the negotiation or implementation of a restructuring in the jurisdiction where the scheme company is incorporated. \nRobust protections are available in the Cayman Islands, the British Virgin Islands, and Bermuda to ensure the smooth running and the cross-border effectiveness of onshore debt restructurings.","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/b42795f7-096b-41c7-abb7-e0c6210c7f3a/R-I-Over-Wi-Fi.png"}