04/01/2020
Guernsey legal and regulatory update
Guernsey's Revenue Service has introduced an online service for companies completing and submitting their corporate tax returns.
Legal
04/01/2020
The Foundation Company as a Decentralised Autonomous Organisation (DAO) in the Cayman Islands
The timing of the enactment of the Law was also fortuitous as it coincided with the popularisation of decentralised autonomous organisations (or DAOs), most of which utilise blockchain technology.
03/30/2020
Sponsored briefing: After a busy year in offshore litigation, what lies ahead in 2020?
Otherwise it has been a year of variety – our litigators have been involved in a broad range of large, complex contentious cases, including general commercial litigation, restructuring and insolvency, trusts, regulatory (including proceeds of crime
03/30/2020
Key legal due diligence requirements for offshore structures in corporate and finance transactions
It may be that, in view of current market uncertainties, an enhanced due diligence approach is required for certain types of transactions.
03/30/2020
British Virgin Islands Segregated Portfolio Companies
It is not intended to be exhaustive but merely to provide general information to our clients and their professional advisers.
03/27/2020
Offshore Business Update: Jersey
The Jersey Financial Services Commission (JFSC) is now working remotely.
03/27/2020
Offshore Business Update: Cayman Islands
In particular we will focus on the impact to filings, ability to conduct searches, certificates of good standing, other relevant searches, court sessions, travel restrictions and the implications for Economic Substance compliance and residency.
03/27/2020
Cayman Islands: Record-Keeping Obligations of Trustees
The Amendment and the Regulations apply to trustees of Cayman Islands trusts wherever the trustee is located.
03/26/2020
Hong Kong Court looks again at the Rule in Gibbs in China Singyes
The proposed schemes, promoted in Hong Kong and Bermuda, sought to compromise those debt securities with US$41.4 million paid upfront and new notes being issued to the value of the remaining debt.
03/26/2020
Appleby Advises DBS Bank on Financing for Privatisation
The team advised DBS on the debt and security structure from a BVI and Cayman Islands law perspective and assisted them throughout the transaction as offshore counsel.
03/26/2020
Close friend of Spain’s emeritus king transferred $39 million from “donation” to a US bank
A request for judicial cooperation sent by Swiss prosecutors to a Spanish judge reveals multiple payments to Corinna Larsen, who used part of the money to purchase real estate
03/25/2020
Check your privilege in settlement discussions – WP or not WP, that is the question…
The Court of Appeal held that the settlement agreement and its schedules were not subject to WP privilege.
03/25/2020
Use loot to set up a karuna-virus fund
Switzerland has been a haven for hiding wealth for centuries, at least since the 18th century.
03/25/2020
Coronavirus Job Listings and Money Laundering Schemes
Scammers posing as a legitimate charity foundation are hiring online customer service representatives that are required to do some groundwork in an initial stage.
03/24/2020
Hong Kong Court’s first consideration of PRC law governed debt in sanctioning a scheme of arrangement: Gibbs Rule revisited
Confirming that in assessing this, the Court would take a robust and practical approach.
03/24/2020
Carey Olsen enhances dominant position in Channel Islands funds market after 10 years of exceptional growth
Of the 1,053 Channel Islands domiciled funds Carey Olsen now advises, 675 were Guernsey schemes
03/24/2020
Appleby advises DBS Bank on financing for privatisation
The transaction was led by Partner Fiona Chan, who was supported by Associate Karina Li.
03/24/2020
How far can a Lender go in the legitimate enforcement of its security?
Whilst RBS was successful in this case, it is an interesting exploration as to where the line may be for a lender in exercising its powers of enforcement.
03/24/2020
Can’t we all get along? BVI Court stresses the importance of cooperation between cross-border insolvency practitioners
Here, Justice Jack considered an ex parte, on the papers application for permission to serve an originating application for the appointment of a liquidator outside the jurisdiction.
03/23/2020
Tax Residence - Tax Considerations in Light of COVID-19 Travel Restrictions
The outbreak of COVID-19 has resulted in a unique and alarming health crisis. In addition to the health aspects, there will be a significant economic impact worldwide.