04/05/2019
Deadline approaches for BVI registered agents and trust companies to regularise the status of regulated subsidiaries
The Amendment Act was gazetted on 3 August 2018 and came into force on 1 October 2018.
Legal
04/04/2019
Law firm of Cristiano Ronaldo loses trial against the Spiegel
The dispute over the German magazine Der Spiegel articles on tax avoidance by the star footballer went on for two years.
04/04/2019
Philippines news site chief pleads not guilty to tax evasion charges
The Department of Justice in October indicted Ressa, and online news platform Rappler for attempting to evade taxes by not reporting gains of almost $3 million in the company’s 2015 tax returns.
04/04/2019
The GFSC's Revised Handbook on Countering Financial Crime and Terrorist Financing
The GFSC has announced that in anticipation of the changes to the law it has already begun adopting the new rules to allow for technical issues which could lead to complications once the law is in force.
04/04/2019
Ogier advises on pre-Brexit Luxembourg dual listing of LSE-listed company
Thalassa is a diversified holding company which in 2018 sold its main operating asset, WGP Group, for $20m (purchased in 2011 for $1.35m) plus a potential $10m earnout; $6m of which has been earned, $1.2m has been received and $4.8m of which is due by 11
04/04/2019
Appleby advises Tritax Big Box REIT on the acquisition
The transaction involved the acquisition of a number of BVI companies with due diligence and BVI acquisition mechanics being led by Isle of Man based corporate partner and head of Appleby’s BVI (GMT) team Kyle Sutherland and assisted by associate So
04/04/2019
Saunders v Vautier in the Channel Islands
This case therefore establishes the important point that section 53 of the Trusts Law creates an independent statutory mechanism for the termination of trusts
04/04/2019
Royal Court Varies Footballer's Pension Trust To Provide For His Children
Collas Crill acted for one of the applicants
04/04/2019
Two Cayman funds sue world’s largest jewellery retailer
The Cayman funds claim that “Signet’s misrepresentations cost Plaintiffs tens of millions of dollars.”
04/03/2019
Luxembourg law firm joins Harneys
M Partners have strong cross-border expertise, familiarity with the offshore environment, long standing client relationships and a common law approach.
04/03/2019
Third party litigation funding: credit where it's due?
Update prepared by Nicholas Fox (Partner, Cayman Islands) and Harry Rasmussen (Associate, Cayman Islands)
04/03/2019
Appleby successfully assists Butterfield dispose of dishonest assistance and breach of mandate claims
The fraud involved theft from the corporate bank account by one director forging his co-director’s signature on wire transfer requests on eight occasions over a period of 2 years.
04/03/2019
Carey Olsen support Apse Capital on latest Guernsey Private Investment Fund launch
The Carey Olsen team advising on the launch was led by partner Christopher Anderson, assisted by senior associate Matt Brehaut.
04/02/2019
Walkers Jersey LLP Formation - ‘Walkers (Jersey) LLP’
From that date Walkers (Jersey) LLP will also be recognised as a legal services body
04/02/2019
Remedying Defects in Compliance with the Companies Winding Up Rules
Whilst the case of HSH Cayman [2010 (1) CILR 114] was cited in confirming
04/02/2019
Isle of Man Legislative Update
The Act received Royal Assent on 15 January 2019.
04/01/2019
Ogier's Guernsey team advises Baillie Gifford on US$477 million Schiehallion launch
The team – which included associate Gabrielle Saul – advised alongside accountants and auditors KPMG, administrators Alter Domus and onshore lead counsel Herbert Smith Freehills LLP.
04/01/2019
Private mergers and acquisitions in the Isle of Man: overview
First published in the Thomson Reuters Practical Law Private Mergers and Acquisitions Global Guide 2019
04/01/2019
Between a Legal "Rock" and a "Compliance Hard Place"?
ICO fines Grove Pension Solutions Ltd (Grove) £40,000 for sending almost 2million spam emails
03/29/2019
Victory for PT Ventures in ICC arbitration involving Africa’s richest woman
According to documents seen by ALB, Oi, which inherited its minority stake in Unitel in 2014, had claimed over USD 3 billion from the Angolan shareholders of Unitel.