A reprobate’s best friend – British libel law

I expect the worst financial scandal in the history of the Cayman Islands to unfold in the coming months. The amount in dispute is likely to exceed half a billion dollars and the ensuing litigation has the potential to clutter up the jurisdiction’s Grand Court for many years. 

 

Law Talk

A recent decision of the Grand Court of the Cayman Islands in Re China Shanshui Cement Group Limited looked at the ability of Cayman...

Receivers and revocable trusts: Reserved powers cannot be exercised against the will of the...

Sidebar:EndnotesSection 14 of the Trusts Law (2007 Revision) of the Cayman Islands provides for the validity of a number of powers to be reserved...

HSH Cayman v ABN AMRO Bank – examining the consequences of non-compliance with the...

It is not uncommon to hear statements to the effect that the rules of the court are intended to be complied with, and not intended to be mere ‘targets’ towards which to aspire.

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.

 

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.   

 

Shareholder wind-up of hedge funds: An Overlooked issue

The courts in both the Cayman Islands and the British Virgin Islands have recently handed down a number of judgments focused on the liquidation of hedge funds and the circumstances in which it is just and equitable for funds to be wound up on a petition by one or more shareholders.

The right to lawful administrative action in the Cayman Islands:

There is the prospect of greater accountability and transparency in government if lessons can be learnt in response to any administrative flaws exposed by these challenges. Improved administration ought to be a welcome proposition.

 

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.

Law Talk

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” ...

 

Legal developments

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.

 

Without direct taxes, how does the Cayman Islands generate its revenue?

The Cayman Islands is often portrayed as a tax haven. And indeed Cayman does not have any corporation tax, income tax, inheritance tax and...

Turning around Strategic Turnaround

On 13 December 2010 the Privy Council delivered its judgment in Re Strategic Turnaround Master Partnership Ltd. The case concerned the ability of a fund to suspend the redemption of shares and the payment of redemption proceeds.

Tax danger continues for expats

 The increasing number of challenges has been evident and there have been four cases on the subject of residence and domicile in the same number of months. This article looks first at three cases involving persons leaving the UK and second at a person coming to the UK.

New Court of Appeal decisions

It has been a busy quarter for the Cayman Islands Court of Appeal with two decisions in particular requiring consideration - Weavering and Re Dyxnet.

 

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. 

 

A process of redemption

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.

Law Talk

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.

 

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