“Supporting your vision with smart, practical legal advice” James Oton - MD Case List Golden Rock Studios Limited (Company Voluntary Arrangement) LIS Limited has been advising the directors of Golden Rock Studios Limited in respect of the insolvency routes available to them unassisted. Regarding the Hive down prior to the entering of the company into company voluntary arrangement. Company Voluntary Arrangement is a deal with the company's creditors and the company on a voluntary basis. And in this occasion, LIS has been successful in advising the directors through the process, and is to be noted that this is the first ever company voluntary arrangement in Gibraltar. LIS is proud to support Golden Rock Studios Limited and following the company voluntary arrangement, is pleased that the company will return to a solid position and continue trading on the success of the company. Voluntary arrangement has been down to the landlord's support in Gibraltar, and the landlord in this respect was one of the one of the major creditors of the company. In Gibraltar, a Company Voluntary Arrangement (CVA) is a legally binding agreement between an insolvent company and its creditors, allowing the company to repay its debts over a set period instead of facing liquidation or bankruptcy. It's overseen by an insolvency practitioner, who acts as a supervisor. The CVA aims to give the company a chance to continue operating while repaying its debt, and it's often used to avoid the more drastic measures of liquidation. Ziglu (Gibraltar) Limited LIS Limited advised the company Ziglu in respect of the set up of its subsidiary in Gibraltar to provide services to the UK entity, which is licensed as an e-money provider and registered as a crypto provider in the UK. LIS Limited also advised in respect of the acquisition of the company, following the deal made between Damex and Ziglu for the acquisition of Damex's retail customers in exchange for equity. LIS continues to be engaged by the company in respect of all its legal matters in Gibraltar and was instrumental in bringing Ziglu to the jurisdiction. CIAP Construction Limited LIS Limited advise the directors of CIAP Construction Company Limited to cease trading following the potential insolvency of the company and is currently dealing with the company in respect of an acquisition and further details will be provided once this acquisition is completed. Quicksure Insurance Company Limited (In Administration) This company was a motor insurer in in Gibraltar, and was in one of three years prior to the company entering into administration. James Oton was appointed by the court, together with Grant Jones as joint administrators. In this respect, it is to be noted that it is the first time in Gibraltar that the joint administrators have capped their fees for the first year of the administration, and this was done due to the limited available assets to the company and to carry out the administration and funding was obtained from the main shareholder following an extensive proposal given to the company for the details can be found on the web on the website.
