The total number of petition filings across offshore jurisdictions fell 10% in 2016 when compared to the previous year, reflecting a continued levelling off since the high-point of 2013, according to a report released by law firm Appleby.
This was among the findings of the firms Snapshot: Review of 2016 Offshore Petition Filings & Court Orders, which examines company petition filings and the resulting court orders in Bermuda, the British Virgin Islands, Cayman Islands, Guernsey, the Isle of Man and Mauritius.
Although the number of petitions was down in 2016, numerous complex restructuring negotiations were underway during the year particularly in the oil and gas sector without having reached the point of petition filing, said Tony Heave…
Read the full article at: http://bernews.com/2017/05/drop-in-offshore-company-insolvency-filings/