Section 225Part 14 — Segregated Portfolio Companies
Applications for receivership orders
←→ Navigate · Click subsection badges to collapse · Press ? for help
An application for a receivership order in respect of a segregated portfolio of a segregated portfolio company may be made by —
the company;
the directors of the company;
any creditor of the company in respect of that segregated portfolio;
any holder of segregated portfolio shares in respect of that segregated portfolio; or
in respect of a company licensed under the regulatory l aws, the Cayman Islan ds Monetary Authority where the segregated portfolio company is regulated by the Authority.
The Court, on hearing an application —
for a receivership order; or
for leave, pursuant to section 224(5), for a resolution for voluntary winding up, may make an interim order or adjourn the hearing, conditionally or unconditionally.
Notice of an application to the Court for a receivership order in respect of a segregated portfolio of a segregated portfolio company shall be served upon —
the com pany;
in respect of a company licensed under the regulatory l aws, the Cayman Islands Monetary Authority; and
such other persons, if any, as the Court may direct, each of whom shall be given an opportunity of making representations to the Court befo re the order is made.