Harneys advises on €450 million loan finance to Phoenix Tower International
Banking & Finance

Harneys advises on €450 million loan finance to Phoenix Tower International

Harneys acted as Cyprus counsel to Caisse de dépôt et placement du Québec, a global investment group, and AMP Capital, a global investment manager, on a €450 million financing in secured notes issued by affiliates of Phoenix Tower International. The amount may be further increased by €325 million, through an accordion feature.
It’s time for offshore jurisdictions to have cross-class cram downs in the restructuring toolkit
Restructuring

It’s time for offshore jurisdictions to have cross-class cram downs in the restructuring toolkit

In this article, originally published in LexisPSL, Asia Managing Partner Ian Mann discusses why each of the offshore jurisdictions, the British Virgin Islands, Cayman Islands and Bermuda, should adopt the new English cross-class cram down provisions by way of their own legislative amendment in order to keep up with modern restructuring requirements.
Cryptocurrencies: risk and recovery
Litigation & Insolvency

Cryptocurrencies: risk and recovery

Although cryptocurrencies are not ‘new’, it is only in recent years that ownership of digital assets has become widespread. Given the increased interest and value in the crypto market, it is unsurprising that fraudsters have sought to capitalise on the lack of regulation and investors’ fear of missing out on potentially life-changing returns. This article examines the unique characteristics of cryptocurrencies and their resilience to fraud; the ways in which cryptocurrencies can be misused; and the process for tracing, preserving and recovering cryptocurrencies.
BVI introduces data protection regime
Regulatory & Tax

BVI introduces data protection regime

On 6 April 2021, the BVI government passed the Data Protection Act (the DPA). The DPA was published in the gazette on 13 April 2021 but has not yet come into force – it will come into force on a date to be determined by the government and this is expected imminently. The background to this is of course the drive for the BVI to become equivalent with the UK and European Union in this area, in particular under the EU’s General Data Protection Regulation.
Harneys wins Best Offshore Law Firm among five 2021 China Business Law Awards
Banking & Finance

Harneys wins Best Offshore Law Firm among five 2021 China Business Law Awards

Harneys is pleased to announce it has been named Best Offshore Law Firm by China Business Law Journal, for the third consecutive year. In addition, the firm received awards for Banking & Finance, Family Wealth Management, Restructuring & Insolvency, and Structured Finance & Securitisation. The results were announced in the China Business Law Journal report on 18 May.