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...

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...

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 Law Market

In England, a motorcyclist was recently sentenced to six months in jail for riding at speeds of up to 122 mph on a half-mile...

New Insolvency Rules in the Cayman Islands

Sidebar Information:Break the BankOn 1 March, 2009, the Companies Amendment Law 2007, the Companies Winding Up Rules 2008, the Insolvency Practitioners Regulations 2008 and...

Investing: The end of tradition

What role do investment advisers and private bankers have to play in a world where most investors have lost a lot of money? Is the traditional client investment advice role a relic of the past? Should individuals even be investing at all?

Break the bank

Back to Story: New Insolvency Rules in the Cayman IslandsIf the sage advice for visitors to the Strip in Las Vegas today is not...

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.

Aviation “be careful what you wish for”

In 2008, the industry lost US$5.2b as a result of the sudden increase in oil and jet-fuel prices and the bulk of the losses were sustained in the US where many airlines had insufficient hedging protection in place. Fuel accounted for 32 per cent of airlines’ operating costs in 2008, according to the International Air Transport Association forecast, published in February 2009.

Sleeping with an elephant

While one could speak generally of Cayman companies that do business in Cayman, we are finding the greatest impact of this in the liquidation of Cayman hedge funds, particularly in those instances where the investment management, administration and/or assets are in the United States.

How sound is the Cayman dollar?

The Cayman Island Monetary Authority operates a currency board to ensure adequate backing for the Cayman Islands currency and that enough paper currency and coin is available to meet the demands of the market. In 1971, the political leaders in Cayman and the UK decided that the Cayman Islands economy had grown sufficiently to support its own currency, through the use of a currency board and that such a currency would be in the political and economic interests of the Cayman Islands.

Bridge Finance Lending to Private Equity Funds in the Cayman Islands

Providing loan facilities to investment funds is certainly nothing new and it has been a lucrative business for a number of banks here in the Cayman Islands for many years. With single manager funds obtaining their finance at brokerage level, the primary market for Cayman banks are fund of fund vehicles (usually formed as Cayman Islands exempted companies) to which they provide both bridge and leverage finance.
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