Managers of Wealth Offshore

Repack is Back: Issuances in 2020

Repackaging programme issuances have gained momentum this year, despite the slowdown caused by the COVID-19 pandemic elsewhere in structured markets.

COVID 19 Ireland Update: Company Law Changes

The measures in the Act are operative for an 'interim period' until 31 December 2020, although they can be extended by the Government under the provisions of the Act.

Update on the Cayman Islands' economic substance framework

This detailed guidance was welcomed by the industry as it has given greater certainty to those businesses whose operations were potentially in scope.

Former IFA among trio charged with fraud

Richard Emmett, a former solicitor, has also been charged with one count of fraudulent trading and one count of being concerned in an arrangement which facilitates the acquisition, retention, use or control of criminal property.

Walkers Advises Productivity Media Inc on International Media Fund Launch

This launch demonstrates not just the confidence in the Jersey Private Fund model, but also its versatility as an international investment vehicle.

Carey Olsen a finalist for two STEP Private Client Awards

Carey Olsen has one of the largest trusts and private wealth teams in the offshore world

Virgin Islands To Subpoena Billionaire Investor Leon Black In Jeffrey Epstein Case

It is currently unknown when the subpoenas will be served, as courts in the Virgin Islands are mostly shut down due to the Covid-19 pandemic.

Billionaire Robert Smith, Denver native and richest Black American, reportedly under criminal tax investigation

Smith, an East High School graduate, may have ducked taxes on $200 million in assets, according to Bloomberg report

Intertrust Group announces creation of Intertrust Law

Intertrust Law will be a Cayman Islands general partnership led by Managing Partner Ian Gobin and operated and managed independently from Intertrust Group.

Fiduciary arrangements and trust in Luxembourg: new obligations for local and foreign trustees

All fiduciaries of fiducies and trustees of express trusts administered in the Grand Duchy of Luxembourg need to set up an internal file on their beneficial owners.

Cayman Grand Court departs from Hong Kong Court in dismissing Winding-Up Petition

The Cayman Court adjourned the hearing of the Cayman petition pending judgment of the Hong Kong Court, so as to avoid conflicting judgments (noting that comity and cooperation are particularly important in cross-border insolvency).

Liechtenstein proceeds with investigation against fugitive Russian banker

MEP from Latvia Tatyana Zdanoka sent an official letter to the UK Home Secretary Priti Patel asking her to pay attention to the intentions of Bedzhamov, who is persistently seeking asylum in the UK.

Local jobseekers ‘not suitable’

Like other readers, Ebanks complained about the time and effort to get someone from WORC to help him and respond to his concerns.

Partner suspended over multiple money laundering failures

The SRA launched a forensic investigation in January the following year, reviewing eight property purchases handled by Ms Levinzon, two sales and one transfer of company shares.

Offshore Trusts – Options for HNWIs

As British Overseas Territories, the islands’ legal systems are based on that of England, with final appeal to the Privy Council of the House of Lords in the UK.

There’s no place to wind-up like home

The judge opined that this approach is consistent with principle.

Commercial Partner, Christel Sands-Feaste, featured in Opalesque Roundtable (2020)

Christel shares her insight as to the jurisdiction’s current status post Dorian, discusses the work that has been done to refine the substance legislation and advises regarding the potential growth for The Bahamas moving forward

Provisional Liquidation – A Neglected Tool in the Bahamian Insolvency Toolbox

Bahamian companies in financial distress and their directors would do well to avail themselves of this far too neglected insolvency tool.

Cayman Islands Court of Appeal enforces foreign arbitral award in favour of Brazilian airline

The Court of Appeal has now held that the award debtors and respondents to the appeal are estopped from challenging enforcement of the award by virtue of Brazilian court decisions, in which the various challenges had already been raised and dismissed.

Cayman costs ruling a word of warning to "friendly creditors"

The petitioner argued that as the debt was not disputed when the petition was brought, and has since been paid, it was successful and the usual costs order should follow.

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