EU tax haven blacklist and amendments to 4AML directive on third countries pose challenges...

On Dec. 5, 2017, the European Council issued its conclusions on the EU list of non-cooperative jurisdictions for tax purposes. The conclusions also set...

Ships of Oak, Guns of Iron:

In 1814, the US already had the highest per capita income and one of the largest territories of any country, a mid-sized population of eight million – significant for countries of the time; and it had taken on Great Britain, the military and economic superpower of the day, and fought it to a stalemate on the land and sea. 

 

Catastrophe bonds – bridging the liquidity gap

Catastrophe bonds are no longer ‘the next big thing’. They have arrived, made their presence known and are here to stay. And we can be extremely proud in the Cayman Islands that the jurisdiction has astutely positioned itself as the premier offshore domicile for these ever-evolving transactions.

Getting it Wrong – by William Barnett

In Getting it Wrong1 William Barnett, an aggregation and index number theorist, makes a few important points about monetary policy in the United States, along with a few questionable claims for how to fix it, and some fairly bazaar speculations about why his proposals have received so little traction. 

 

 

Assessing bond risks in municipal bankruptcy:

Even though U.S. law theoretically allows some municipalities (that is, cities and other political subdivisions of a state, such as water reclamation and sewer districts) to seek bankruptcy relief, such cases have been rare, and in these cases, municipal bondholders have emerged all but unscathed.

 

The flight plan to future success The Civil Aviation Authority of the Cayman Islands

The government and private sector of the Cayman Islands have demonstrated their commitment to the implementation of regulation which meets and exceeds international standards for transparency and exchange of information.

Friend or foe? Judicial review developement

Judicial review – the process by which a person who is aggrieved by administrative action may, under certain conditions, seek review by a court of the lawfulness of such action – is a concept that has in recent years attracted much attention throughout the common law world.   

 

Trade Policy Disaster: Lessons from

At the beginning of the Great Depression, world trade dropped by an “astounding 65 per cent in gold-dollar terms”.  

 

Privatize Cayman’s airports

Thirty years ago airports were assumed to be a basic function of government just about everywhere in the world. But in 1987 British Prime Minister Margaret Thatcher changed that perception by privatizing the British Airports Authority. 

 

Cayman Islands: Well positioned

The world as we have created it is a process of our thinking, it cannot be changed without changing our thinking.

 

Grand Court decides on fair value determination in merger case

As we move into the final quarter of 2015 we expect to see further developments with respect to local implementation of the CRS and the Cayman AIFMD Regime. 

 

Losing the law business

If you are not a lawyer, you may find this next sentence very good news. We are entering a period in human history in which we are going to need fewer lawyers, at least the traditionally trained variety.   

 

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The who what why of Cayman’s beneficial ownership regime

A new era started on July 1, 2017, when Cayman’s beneficial ownership legislation came into effect. Both the design and messaging around the regime...

The Cayman Islands government is undertaking significant and exciting Intellectual Property Law reforms

During the last few months, we have seen significant steps taken by the Cayman Islands Government to reform Cayman’s Intellectual Property (IP) Laws. These...

Prest v Petrodel

Prest v Petrodel has something for almost everyone: appalling behavior, a glimpse into the lives of the fabulously wealthy and a diverse range of legal issues appealing to corporate, insolvency, trusts and family lawyers alike.

 

A new era for the real estate industry

The digital age The digitalization of the real estate industry is happening just as quickly as in any other industry. Improvements in the transfer of...

The impact of the new financial reform legislation

President Obama has signed into law the Private Fund Investment Advisers Registration Act of 2010 as part of the broader Dodd-Frank Wall Street Reform and Consumer Protection Act, which enacts sweeping changes to the US financial regulatory system intended to address both the causes of the recent financial crisis and other perceived gaps in US financial regulation.

Law Talk – Legislative developments

In the last edition of Law Talk, we briefly reviewed the much anticipated Cayman Islands LLC Bill which is intended to add another key...

In kind redemptions: A fair deal

In a recent judgement of the Grand Court in the matter of FIA Leveraged Fund (unreported, Grand Court, 18 April 2012), the Court has laid down some general principles applicable to the in kind or in specie distribution of fund assets to redeemed investors and the proper exercise by directors of the power and discretion to make payments in kind.

Perversion of securities safe harbours

In September 2011, the District Court for the Southern District of New York applied these safe harbours to eviscerate the Madoff trustee’s effort to recover $1 billion from the owners of the New York Mets baseball team. 
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