Unravelling
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Unravelling Complexity

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Cayman Court provides valuable guidance on dealing with frozen assets under Libyan sanctions
Regulatory and Tax

Cayman Court provides valuable guidance on dealing with frozen assets under Libyan sanctions

In Palladyne International Asset Management B.V. v Upper Brook (A) Ltd and Others, the Grand Court of the Cayman Islands issued important judicial guidance regarding the extent to which the dealing restriction under the Libyan sanctions regime was applicable in the Cayman Islands. In particular, the court was asked to examine the scope and meaning of the restriction on the ‘use’ of funds frozen under the Libya (Restrictive Measures) (Overseas Territories) Order 2011.
Chambers Global - BVI Trends and Developments
Litigation, Insolvency and Restructuring

Chambers Global - BVI Trends and Developments

Harneys contributed to the BVI Trends and Developments section in the Chambers Global Practice Guide Insolvency chapter. The section gives an overview of current trends and developments in local legal markets. Harneys Partners Andrew Thorp and Stuart Cullen analyse particular trends and provide a broader discussion of key developments in the jurisdiction.
Corporate receivership applications – Fighting back
Litigation, Insolvency and Restructuring

Corporate receivership applications – Fighting back

This article, published by IFLR, discusses the role of receivership applications within the Cayman Court. Paul Smith and Katie Pearson deliberate the alternative ways receivers can be appointed, including prior to judgement and by way of equitable execution. The article draws upon several cases from the Cayman Islands courts, including the 2011 case of TMSF v Merrill Lynch Bank and Trust Company (Cayman) Ltd.
Illegality defense developments in UK and Cayman Islands
Litigation, Insolvency and Restructuring

Illegality defense developments in UK and Cayman Islands

The principles that a person should not benefit from his own wrongdoing and that the law should not condone illegality are longstanding. Keen legal historians might be aware that these are precepts in Roman law and there are echoes in Deuteronomy. In its broadest form, it extends to conduct which is not just illegal but also unethical. Download the PDF to read more.
Getting the Deal Through: British Virgin Islands Complex Commercial Litigation
Corporate

Getting the Deal Through: British Virgin Islands Complex Commercial Litigation

Andrew Thorp and Jonathan Addo give an overview of complex commercial litigation in the British Virgin Islands in the latest chapter of Getting the Deal Through: Complex Commercial Litigation. Download the PDF to read more.
The future of legal professional privilege
Litigation, Insolvency and Restructuring

The future of legal professional privilege

The Court of Appeal's anxiously awaited decision in The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Limited was handed down in September this year, with the Court of Appeal overturning the ruling of the High Court insofar as it related to litigation privilege. We now know that the SFO does not intend to appeal to the Supreme Court (it has, however, warned that it will “continue to thoroughly assess the merits of all privilege claims and remains prepared to challenge those it considers to be ill founded”). Harneys Associate Jacqueline Ziemniak discusses the matter further in a recent article published by Global Legal Chronicle.