Unravelling
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Unravelling Complexity

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Risky business: directors’ indemnities and exculpation in the Cayman Islands
Litigation, Insolvency and Restructuring

Risky business: directors’ indemnities and exculpation in the Cayman Islands

In the Cayman Islands, where there is no specific law on directors’ duties, it’s common for company articles of association or service contracts to limit or exclude directors’ liability or indemnity. In a recent article published by Global Restructuring Review, Partner Nick Hoffman and Senior Associate Gráinne King examine some of the key terms found in these limitation or exclusion clauses, as well as a number of fresh developments in Cayman Islands case law.
Alternatives to just and equitable winding up in practice
Litigation, Insolvency and Restructuring

Alternatives to just and equitable winding up in practice

This article, published in the InterContinental Finance & Law magazine, discusses alternatives to just and equitable winding up in practice and illustrates some of these alternatives with case examples, before considering the extent to which there is still a place for such relief. Download the PDF to read more.
The British Virgin Islands simplifies the way to deal with compliance services
Investment Funds

The British Virgin Islands simplifies the way to deal with compliance services

British Virgin Islands (BVI) law places significant importance on the role and function of compliance, and in particular, the compliance officer in so far as it relates to financial services licensees. Traditionally, only an individual could be approved as the compliance officer of a licensee. However, in order to adapt to a more modern approach to compliance, the Financial Services Commission Act 2001 (the FSC Act) has been amended recently to now allow for corporate compliance function services to be provided to licensees.
BVI introduces country-by-country reporting for certain multinational enterprises and updates CRS requirements
Investment Funds

BVI introduces country-by-country reporting for certain multinational enterprises and updates CRS requirements

The BVI recently approved changes to the Mutual Legal Assistance (Tax Matters) Act requiring certain multinational enterprises to file a country-by-country report with the BVI International Tax Authority, as part of the BVI’s implementation of the OECD’s Base Erosion and Profit Shifting framework.
When hedge funds become illiquid, what options are open to investors?
Investment Funds

When hedge funds become illiquid, what options are open to investors?

The 2008 financial crisis led to a surge in the number of funds facing liquidity issues. This was, in part, down to global macro events, but more prominently as a result of unrealistic expectations of liquidity as against investment return. This article, published by IFLR, is a discussion and analysis of the options open to investors by Cayman law when issues of liquidity arise. Firstly, looking at the wind down process associated with normal liquidity situations, partner Matthew Taber and senior associate Katie Pearson assess the process associated with suspension of redemptions, followed by an analysis of an official court room liquidation.
The Asia-Pacific Restructuring Review 2019 - Offshore: Cayman Islands
Litigation, Insolvency and Restructuring

The Asia-Pacific Restructuring Review 2019 - Offshore: Cayman Islands

The Cayman Islands has a globally recognised, comprehensive and creditor-friendly regime to facilitate domestic and cross-border insolvencies and restructurings, with effective procedural rules in place both for practitioners and the courts. Read more about the most recent developments in the restructuring and insolvency sphere in the Cayman Islands from the Global Restructuring Review Special Report - The Asia-Pacific Restructuring Review 2019.