Sui generis maximus: Power over UK persons for “special” US bankruptcy claims

Lawyers often seem too clever in arguing legal niceties to help clients avoid responsibility. Sometimes, though, a lawyer is hoisted with his own petard as a court fashions new super-niceties to reflect modern developments and undercut long-established rules.

Chapter 15

Clearly when a Cayman Islands liquidator gets appointed by the shareholders or the Cayman Islands Court, he has a number of duties. He has a duty to identify, take control and protect the assets of the company pending the identification and agreement of creditor claims prior to a distribution.

This Time is Different:

Have you ever encountered a book in your field of inquiry that upon reading, you knew the book should be put on that special shelf reserved for favourites? That the book was so fundamentally good and strong that you would be reading it again and again and referring others to do the same? 

Cayman hedge fund liquidators welcome

Forum shopping, or to put it more diplomatically, careful forum selection, is absolutely essential to the effective pursuit of remedies in US Bankruptcy Courts. Another recent decision regarding a Cayman hedge fund seeking – and this time receiving – cooperation from a US Bankruptcy Court illustrates ...

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.

Just taxes: The politics of taxation in Britain, 1914-1979 (Cambridge University Press 2002) by...

Cambridge University Economic History Professor Martin Daunton has pulled off the astounding feat of writing not just one, but two books about the history of taxation that are not only thoroughly researched and thoughtful but are written in such a lively style and illustrated with so many ...

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.

Do we need a new global currency?

Governments and countries must ultimately live within their means as well. Governments can spend more than they receive in taxes by borrowing, but purchasers of their debt will stop lending to any government whose debt they think is growing too large for the government to service.

Notes

Main Article:Special Drawing RightsThe exchange rate for the Japanese yen is expressed in terms of currency units per US dollar; other rates are expressed...

The Ascent of Money: A financial history of the world

Reviewed by Richard W. RahnHow much money do you have? It is most often considered an impolite question and therefore seldom asked, but nevertheless...

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...

Cape Town Convention Law 2009 and its likely impact on aircraft financing in the...

In July 2009 the Cayman Islands enacted the Cape Town Convention Law 2009.  The intention of the Convention has been to standardise transactions involving moveable property with respect to aircraft objects such as airframes, aircraft engines and helicopters.

Quantitative easing and the US dollar: Friends or foes?

The impact of monetary base growth on the value of the US dollar. The unorthodox monetary policy of quantitative easing being pursued by the Fed in response to the global financial crisis has, of late, caused widespread speculation that out-of-control inflation will erupt in the world’s largest economy and significantly weaken the value of the US dollar.  

Auditors can sleep a little more, but not too soundly, thanks to the UK...

The court upheld the decision of the Court of Appeal and, applying the ex turpi causa non oritur actio (ex turpi causa in brief) principle, struck out summarily the claim against the auditors Moore Stephens of the company Stone Rolls

Cayman: A jurisdiction for foreign exchange expertise

With forecasts playing down the chances of a rapid upturn, issues of liquidity and volatility will continue to play major roles in markets over the coming months. 

Quantitative easing in graphs

Main Article:Quantitative easing and the US dollar: Friends or foes?Fig 1:  FEDERAL RESERVE BALANCE SHEETFig 2:  TRADE-WEIGHTED VALUE OF USD (DXY)Fig 3:  INFLATION VS....

Board of Directors appointed as of July 2009

Main Article:Cayman Airways - strategic instrumentThis Ministry of Tourism, Environment, Investment & Commerce organises and directs the activities of several departments, government entities and...

New Insolvency Rules in the Cayman Islands

Second installmentThis is the second article in a two-part series dedicated to discussing the recent reforms impacting the Cayman Islands’ insolvency regime as a...

2009 – Celebrating the 35th anniversary

Back to: Cayman National Corporation profile 2009 – Celebrating the 35th anniversary 1974 - Cayman National Bank and Trust Company Limited (CNB) opened for business 1976 - Cayman Overseas Bank...

The Euro – The Politics of the New Global Currency, by David Marsh

Bundesbank President Tietmeyer once said to his British counterpart, “You have the House of Lords, the Queen and your established traditions – we have...