Harneys advises Montagu Private Equity on Waystone Deal
Private Wealth

Harneys advises Montagu Private Equity on Waystone Deal

Harneys acted on behalf of leading European private equity firm Montagu Private Equity to acquire a strategic stake in the Waystone Group, a specialist service provider for the asset management industry. The agreement is subject to regulatory approval and customary closing conditions
BVI economic substance update – limited partnerships and investment funds
Regulatory & Tax

BVI economic substance update – limited partnerships and investment funds

The Economic Substance (Companies and Limited Partnerships) Act 2018 (the ESA) was updated on 29 June 2021, with consequential amendments being made to the Beneficial Ownership Secure Search System Act, 2017 (BOSS) on 16 July 2021 as well.
Harneys grants legal scholarship to talented Caymanian

Harneys grants legal scholarship to talented Caymanian

Harneys is pleased to announce that Kayla Prendergast has been awarded our 2021 legal scholarship. Kayla was born and raised in the Cayman Islands and has always had a keen interest in the financial services industry.
The balance between open justice and confidentiality in offshore trust proceedings
Litigation & Insolvency

The balance between open justice and confidentiality in offshore trust proceedings

In this article on the balance between open justice and confidentiality in offshore trust proceedings, the authors address disputes that may arise in territories of the UK. These jurisdictions include the British Virgin Islands, the Cayman Islands, Bermuda, Jersey, Guernsey and the Isle of Man. Each jurisdiction has a separate jurisprudence but to a large extent it is based on the English common law especially in the British Virgin Islands, the Cayman Islands and Bermuda. As such each jurisdiction is not bound by, but will take into consideration, judicial decisions in the other jurisdictions. As trusts often concern private family assets there is generally a strong desire for trust litigation to be conducted in private. This desire for discretion can be seen, however, to be in conflict with the well-established two dimensional principle of open justice, that the (a) public is entitled to attend court proceedings and (b) media should not be discouraged from publishing fair and accurate reports of court proceedings.
New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission
Regulatory & Tax

New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission

This article discusses the adoption of new standard contractual clauses under Article 46 of the EU General Data Protection Regulation 2016/679 (GDPR) for the legitimisation of transfers to third countries which do not benefit from an adequacy decision – ie “international transfers”.
Harneys announces 2021 mid-year promotions

Harneys announces 2021 mid-year promotions

Harneys is pleased to announce the promotion of 32 of its employees globally. The promotions include five senior associates and two senior legal managers.