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” ...

 

Not for love or money

The next time you meet your Money Laundering Reporting Officers (MLRO), spend a moment to chat with them and to fully understand the demands...

Treasury’s War:

Have you ever wondered how the United States and other countries actually conduct “financial warfare”?   

 

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.

Regulating Criminal Finance in the Global Economy

Sharman’s book is a most interesting contribution to the discourse on the current measures to control money laundering and, to a lesser extent, terrorist financing.

 

Inside the Nixon Administration:

 

 On 15 August, 1971, President Richard Nixon unilaterally ended the international system of rules that had governed the financing of international trade and investment since the end of World War II.

Europe’s Unfinished Currency – by Thomas Mayer

In his “Europe’s Unfinished Currency”, Thomas Mayer gives us a highly readable account of the political origins of the European Union and its currency and its current weaknesses and promise. 

 

Cayman insurance roundtable

Cayman Financial Review invited Cindy Scotland, managing director of the Cayman Islands Monetary Authority, Len Goldberg, managing director of Cayman-based reinsurer Greenlight Re and the chairman of the Insurance Managers Association of Cayman Ron Sulisz to debate the latest regulatory developments and their impact on ...

The Monetary Conservative:

Inflation is the work of the devil, because it respects appearances without destroying anything but the realities.  Jacques Rueff

 

EU blacklist presents new offshore challenges

On Dec. 5, the EU Council agreed on a blacklist of 17 countries that the European finance ministers consider uncooperative in tax matters. They...

Hidden in plain sight:

What really caused the world’s greatest financial crisis? The prevailing narrative, as articulated by President Obama and his allies, was that the crisis was caused by insufficient government regulation.   

 

Critically needed: Intellectual property modernization and reform in the Cayman Islands

Steady progress has been made toward Intellectual Property (IP) modernization and reform in 2015. There is still much work to be done in order...

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.

 

Photograph of a pen and pocket watch sitting on a will with 'Last Will and Testament' written in nice script.

STEP Cayman: A three-year snapshot

In 2016, driven by the vision of branch chair Alan Milgate, the Cayman Islands branch of the Society of Trust and Estate Practitioners embarked...

BCCI and the Cayman Islands: Success against the odds

At a recent hearing before the Grand Court, the Cayman Islands liquidators of BCCI Overseas applied for and received their discharge and the Court ordered the formal dissolution of all of the BCCI group companies in the Cayman Islands. This judicial procedure brought to an end an assignment that had run for nearly 22 years.

 

Cayman’s maritime industry poised for growth – but let’s take a measured approach

At the beginning of May, I was invited to participate as a speaker at the Cayman Islands Shipping Summit held during the first annual...

Captive investing: Exploring the new normal

In the aftermath of the financial crisis that impacted global markets over the past two years, a number of captive insurance companies experienced losses in their investment portfolios and are now contemplating strategies around...

Prudent bankers, careless regulators?

Banks have in essence changed little since they emerged from being early modern goldsmiths. Their key business remains borrowing and lending. When engaged in that they are crucial to the economy in two ways. They supply a part – in modern economies, by far the greater part – of the stock of money. 

 

Vitro: A roadmap for resisting third-party releases in cross-border insolvency cases

Reorganisation plans frequently include releases of non-debtor third parties, but this is one area where informed hedge fund creditors have significant power to resist the destruction of an important alternate source of recovery.

 

 

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