Managers of Wealth Offshore

Insurance Bulletin Spring 2020 by Conyers

As the market leading insurance legal practices in both Bermuda and Cayman

Hands off! EC court of appeal rules on beneficiaries’ standing to prevent interference with trust assets

The claimants initially obtained an injunction preventing the Cypriot administrator from changing the management and control of the BVI companies and their subsidiaries.

The High Court of Justice of England and Wales considers the impact of business interruption on a proposed transfer of insurance business

A judgment produced now may end up creating more work later with the need to compare the circumstances now and those at the adjourned hearing.

Chapter 15 recognition of Olinda BVI scheme signals success for Constellation restructuring

The US Courts had previously granted Chapter 15 recognition to the Brazilian judicial administrator of the other Constellation Group companies that were the subject of the restructuring.

Harneys launches new restructuring podcast: R&I over Wi-Fi

In our first episode, partners Chai Ridgers and Ian Mann discuss the use of parallel schemes of arrangement in cross-border restructurings, particularly the cross-border restructuring of an offshore company listed in Hong Kong.

Cayman Islands Private Funds Law, 2020

New and existing closed-ended funds must now register with the Cayman Islands Monetary Authority ("CIMA") by 7 August 2020.

COVID-19: Temporary Arrangements between Jersey Landlords and Tenants in respect of Commercial Leases

In relation to Residential Tenancies this has also been supplemented by Regulations which were approved by the States on 9 April 2020

Dispute management in a time of COVID-19

It is important to, as well, recognise that litigation, notwithstanding its constitutional right of access to the courts for all status, has its many limitations, some of which are now being exposed for their nakedness in this COVID-19 lockdown era.

Governance amidst disruption - crisis management pointers for stakeholders in uncertain economic times

Needless to say, managers and investors alike may generally want to avoid taking advantage of the current market volatility for short-term gain.

Judicial comity between Courts in the Cayman Islands and in Hong Kong

Justice Parker’s judgment was circulated in draft on 11 March 2020.

Mourant advises CVC Capital Partners on fifth Asia Pacific Fund with commitments of US$4.5 billion

CVC Capital Partners is a longstanding client of the firm and Mourant has advised on each of CVC Capital Partners' previous Asia focused fundraisings.

Free-standing Freezing Orders in the British Virgin Islands: service out on non-submitting foreign defendants

It remains to be seen whether this Court of Appeal decision will now trigger legislative change

Appleby Bermuda Assists Credit Suisse with USD461 Million Operational Re Cat Bond Coverage

Appleby has assisted with a third catastrophe bond issuance offering Credit Suisse protection for its operational risk exposures.

Ogier advises on final closing of 8F Aquaculture Fund I L.P. – a sustainable aquaculture fund

The investment strategy of 8F Aquaculture Fund I LP is focused on developing a socially and environmentally responsible land-based salmon farming business, which is being developed globally.

Implementation of the 5th AML Directive into Luxembourg law

The 2020 Law, which is significant in the context of the FATF’s scheduled on-site visit in Luxembourg, impacts the national AML/CTF framework in a number of key areas.

Channel Islands Funds Quarterly Update: Q1 2020

The Director of Revenue Services in Guernsey has indicated that it would take a pragmatic approach in applying Guernsey's economic substance legislation.

The Territorial Limitations of the Black Swan Jurisdiction

On 30 March 2020, the Court of Appeal of the Eastern Caribbean Supreme Court (the Court of Appeal) delivered a decision of some practical importance to the practice relating to applications for injunctive relief.

Update on Court Availability in the BVI, Bermuda and the Cayman Islands

Filings and Court searches are available in the ordinary course in BVI and the Cayman Islands, and in Bermuda for urgent matters only.

An Update on the Recovery of Foreign Lawyers Fees in the BVI

For many years, the entitlement of litigants with disputes before the Eastern Caribbean Supreme Court (the BVI Court) to recover the costs incurred by their overseas lawyers

PrivatBank files new lawsuit for $5.5 bln in Cyprus against ex-owners – bank

The bank claims that they were fictitious loan agreements, none of which were repaid.

Legal