On 18 February 2013, the Cayman Islands Court of Appeal released its judgment in Re FIA Leveraged Fund. The judgment will be of significant interest to directors and managers of investment funds, as it provides helpful clarification on how to ensure in specie distributions are effective.
Law Firm: Mourant Ozannes | Published: 07 May 2013 | Practice Area: General Financial Services
In three recent cases, Hong Kong's Court of First Instance has considered whether it is able to wind up companies incorporated outside Hong Kong and the circumstances in which it will do so. This article provides a broad overview of the decisions and implications for offshore companies.
Law Firm: Mourant Ozannes | Published: 02 May 2013 | Practice Area: Disposals
Both the BVI and Cayman Islands Governments recently announced they will pursue the finalisation of a Model I inter-governmental agreement with the United States in response to FATCA. This will simplify FATCA compliance for a range of BVI and Cayman financial institutions within FATCA's scope.
Law Firm: Harneys | Published: 12 April 2013 | Practice Area: Enforcement and Regulation
This table provides a basic comparison of key features of BVI and Cayman investment funds in areas including legal structures, types of funds available and regulatory issues.
Law Firm: Harneys | Published: 08 March 2013 | Practice Area: Regulation and Compliance
2012 saw the registration, for the first time, of certain Cayman Islands master funds in open-ended Cayman Islands fund structures. However, practitioners in Cayman have generally taken the view that master funds with a single CIMA-regulated feeder fund were not required to register.
Law Firm: Mourant Ozannes | Published: 13 February 2013 | Practice Area: Regulation and Compliance
Despite the Cambridge Gas decision, it remains unclear as to the scope of active assistance provided by domestic courts to foreign insolvencies. The Cayman Islands Grand Court has been the first court to consider such issues, in its recent decision in Picard and another v Primeo Fund.
Law Firm: Mourant Ozannes | Published: 06 February 2013 | Practice Area: Corporate
Following the hearing of a preliminary issue in the case of Cesar Hotelco Ltd and others v Michael Ryan and others, the Cayman Islands Grand Court handed down an important and welcome judgment clarifying the relationship between the Cayman Island Registered Land Law and unregisted debentures.
Law Firm: Mourant Ozannes | Published: 01 February 2013 | Practice Area: Rights over land
The Argentine naval sail training vessel ARA Libertad was recently arrested in the Ghanaian port of Tema following an injunction and interim preservation order granted by a Ghanaian court. Bakers looks at how enforcement issues arise in practice and whether it's possible to avoid enforcement.
Law Firm: Baker & McKenzie | Published: 14 November 2012 | Practice Area: Remedies and Enforcement
This article sets out the impact in the BVI and Cayman of the much anticipated Supreme Court decision in Rubin v Eurofinance SA, which was handed down on 24 October 2012. Rubin deals with the issue of whether orders made in Chapter 11 bankruptcy proceedings can be enforced in English Courts.
Law Firm: Harneys | Published: 24 October 2012 | Practice Area: Corporate Governance
The rapidly emerging 'SAAAME' markets are likely to increase competition between offshore centres. However, writing exclusively for Legal Week, Mourant Ozannes' Alec Le Sueur explains why law firms that gain experience and knowledge of these markets can turn this challenge into an opportunity.
Law Firm: Mourant Ozannes | Published: 23 October 2012 | Practice Area: Cross-border: Commercial and International Trade
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