Press release from Carey Olsen on Monday 12 April, 2021.
Lawyers from Carey Olsen's corporate team in the Cayman Islands have advised Emergent Capital, Inc. (Emergent), a specialty finance company that invests in life settlements, on the completion of its previously announced restructuring.
It sees Emergent move its operations to its former subsidiary, Lamington Road DAC, a designated activity company with limited liability incorporated under the laws of Ireland and form the Lamington Road Grantor Trust, a grantor trust organised under the laws of the Cayman Islands, to hold certain securities of Lamington.
Working alongside the transaction's lead legal advisers Kelley Drye & Warren LLP and Arthur Cox, the Carey Olsen team advising Emergent on the Cayman corporate and regulatory aspects of the restructure was led by partner Alistair Russell and counsel Dylan Wiltermuth, supported by counsel Graham Stoute.
Dylan said: "Carey Olsen is pleased to have supported Emergent on the successful consummation of its restructuring. Our involvement also serves to underline the firm's expertise in securities and capital markets work of this nature and the ability of our lawyers to deliver on challenging transactions."
The restructuring was done in accordance with the Emergent's Plan of Reorganisation as confirmed by the United States Bankruptcy Court for the District of Delaware on 30 December 2020.