Managers of Wealth Offshore

Asset Protection

Jersey and Guernsey trusts are an essential part of the toolkit

Getting THE Deal Through | BVI – Private Equity: Fund Formation

A private equity fund vehicle (as with any BVI-registered company or a limited partnership) is required to maintain both a registered agent and a registered office in the BVI.

Providence trouble for PwC

The auditor tried to have the claim thrown out but the appeal failed and the case will proceed.

Mourant Regulatory Update – Guernsey Corporate May 2020

An overview of Guernsey legislative and regulatory developments for the period 18 February 2020 to 15 May 2020.

Carey Olsen and Slaughter and May advise the States of Jersey on financing its response to COVID-19

The States of Jersey appointed Carey Olsen and Slaughter and May to advise on the RCF.

Probate and estate planning administration for non-Guernsey domiciliaries

The Guernsey Ecclesiastical Court issues a Grant of Probate if the deceased left a Will or a Grant of Administration if they died intestate.

EU Commission launch of AML/CFT action plan

The Commission intends to deliver on all these actions by early 2021.

Bermuda Amends National Pension Scheme – Update #3

First, any member or former member of a defined contribution pension plan or local retirement product, who has not attained normal retirement age and has not retired, will be able to obtain a refund of up to $12,000 of their vested pension balance.

Walkers Acts on 3 Major Norwegian Cruise Line Transactions

Secondly, Walkers acted as Bermuda counsel to NCLC as it closed its private offering of $862.5 million aggregate principal amount of its 6.00% exchangeable senior notes due 2024 (the “Exchangeable Notes”) on 11 May 2020.

PwC fails to dismiss £25m negligence claim over Guernsey ‘Ponzi scheme’

Auditor accused of failing to uncover fraud at fund that collapsed, owing investors £40m

O Dear, O Dear: Royal Court of Jersey refuses to grant applications for rectification and ratification pursuant to its supervisory jurisdiction over trusts

The judgment is a salutary lesson in a number of ways.

Mauritius: the regulatory impact of Covid-19 on the financial services industry

Relevant documents may now be provided to the Financial Reporting Council in an electronic form as part of a review of the practice of an auditor.

Mauritius: companies in financial difficulty and the COVID-19 (Miscellaneous Provisions) Act, 2020

The effect of these amendments is that companies are given more time to pay debts exceeding MUR250 000 and creditors cannot put a company in liquidation for sums of less than MUR250 000.

Reducing the Risks of Returning to the Workplace – Key Issues for Irish-Based Employers

Care should be taken when selecting employees to return.

Luxembourg Securitisation Vehicles Could Be Removed From ATAD I Exemption

The announcement also advised that, should Luxembourg and Portugal not amend their legislation in the next four months

How a lasting power of attorney can help you during the COVID-19 crisis

A lasting power of attorney for property and affairs can also be used immediately at the donor's instigation

English Court ruling demonstrates Unexplained Wealth Orders shouldn’t be taken on face value.

Update prepared by Christopher Edwards (Partner, Guernsey) and Jeremy Bell-Connell (Associate, Guernsey)

Appleby Offshore Business Update Issue 8

As a global firm, at Appleby we believe we have a fundamental responsibility to do whatever we can to help our clients – and the business community at large

Appleby Hong Kong Partner Fiona Chan and Counsel Vincent Chan are named in the Asian Legal Business Offshore Client Choice List 2020

The recognition marked the culmination of extensive research conducted by ALB which involved collating hundreds of questionnaires in their annual client survey with leading in-house counsel, lawyers in the onshore space and referees from financial institu

Harneys Cyprus advises on US$20 million transaction

The Harneys team acted as Cyprus counsel and was led by Senior Associates Valentina Hadjisoteriou and Sonia Hamshaw, and Associate Marissa Christodoulidou.