Leveraging confusion over power allocation in the US bankruptcy system

One of the last places a hedge fund manager or client wants to be is on the business end of a lawsuit by a US bankruptcy trustee or DIP. Suits by the trustees of fraudulent or failed investment schemes and collapsed LBO deals to recover pre-bankruptcy payments as “fraudulent conveyances” or “preferences” continue to captivate media attention.  


  

 

Insuring employed physicians: Captive opportunity or not

The more things change, the more they stay the same. This phrase has been used to describe a number of situations over the years. The current environment in the US healthcare industry regarding the relationship between healthcare systems, hospitals and their physicians is certainly one of them.

Dollars, Euros, and Debt:

Vito Tanzi has again given us a solid economic explanation of what went wrong and why, and what can be done about it. Governments have grown too large, have spent way too much money, and have tried to get out of the mess through the inappropriate use of monetary policy rather than by drastically cutting spending. 

 

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Primeo v HSBC: Uncharted territory

This case concerns the efforts of the liquidators of a Madoff feeder fund to recover losses suffered as a result of fraud from service...

Use of discretionary powers by Cayman liquidators

A key decision of the Cayman Islands’ Court of Appeal issued in November 2016 warrants special mention in this latest edition of Law Talk. ...

Qualifications for Cayman professional directors

Any Cayman Islands based director of an investment vehicle will have witnessed an increased activism by investors.

David Stockman’s The Great Deformation: The Corruption of Capitalism in America

For six years I’ve told audiences (and even more than a few social acquaintances who would listen) that the 2008-09 Global Financial Crisis was not “The Big One.” In time, people will look back on that episode as relatively minor and fairly short-lived compared to the one we are building toward. Don’t believe me? 

 

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.

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BVI workers relocate to Cayman after Hurricane Irma

Following the devastating destruction caused by Hurricane Irma and the disruption of essential services in the British Virgin Islands, numerous corporate services providers pulled...

The future of private banking: Interview with Michel Dérobert

Does private banking have a future? This question is increasingly asked given the US government’s attack on Switzerland’s oldest private bank and the mounting pressure traditional Swiss private banks have come under from tax-greedy politicians in many countries and international financial regulators, as well as the increasing complexity of the banking business. 

 

Highest company registrations since the financial crisis

Cayman’s company formations sector grew in 2017, with the number of new incorporations and total companies on the registry having increased at the year’s...

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...

Voluntary liquidations: The benefits of retaining an insolvency practitioner

 There comes a time at the end of any company’s life, or such other time as may be stipulated in the articles and memorandum of association, when the directors of the company must decide whether to formally wind up the company.

What is new on the Cayman legal front?

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. 

 

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...

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.

New evidence of hedge funds’ positive impact on Chapter 11 reorganization

Critics characterize activist fund investors as raiders and destroyers of value for the sake of selfish arbitrage. New research1 paints a much more nuanced portrait of hedge fund participation in Chapter 11 reorganization cases.

 

Regulations and the real estate industry

The Cayman Islands Real Estate Brokers Association (CIREBA) was established in the 1980s by a group of like-minded real estate agents to unify Cayman’s...

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...

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?

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