A client had voluntarily liquidated a company after signing resolutions confirming there were no remaining assets. Months later, they returned to us in a panic — the dissolved company, it turned out, still owned a multi-million-dollar property in Mexico.

The implications were serious. Once a company is dissolved, any remaining assets automatically vest to the Cayman Islands government. To regain control of the property, the company would need to be reinstated, a process that can be costly, slow, and complex.

On top of that, reinstatement could trigger reporting obligations in other jurisdictions where the shareholders resided.

We approached the situation carefully. Rather than rushing to reinstate the company, we examined how and why it had been structured the way it was, ensuring we understood the full picture before taking corrective action. We’ve seen too many firms make the situation worse by acting without asking questions, compounding errors rather than resolving them.

Through our intervention, the client was spared even greater financial and regulatory damage. We created a compliant reinstatement path that limited the fallout, and the case served as a valuable reminder of the importance of rigorous checks before dissolving any company.