It has been a busy quarter for the Cayman Islands Court of Appeal with two decisions in particular requiring consideration - Weavering and Re Dyxnet.
The second quarter of 2015 has seen the passage of long awaited enabling legislation for the Cape Town Convention to apply in the Cayman Islands and an interesting decision from the Grand Court considering the use of the “oppression remedy” ...
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.
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.
The ELP Bill provides that a limited partner does not owe any fiduciary duties to the exempted limited partnership or any other partner when exercising any of its rights or authorities or otherwise in performing any of its obligations under the partnership agreement.
The Privy Council issued its decision in the Fairfield Sentry case providing greater certainty as to the finality of the subscription price, redemption price and calculation of net asset value for hedge funds.
Fallout from the sub-prime credit crisis, the Bernard Madoff affair and recent events in the banking and finance sector have had a severe impact on the hedge fund industry leaving many offshore funds facing substantial redemption requests with insufficient liquidity to meet them.
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.
Tania Dons of Conyers Dill & Pearman provides an overview of legislative changes, legal issues and case law of note in the Cayman Islands over the last quarter.