Exempted Limited Partnership Law 2014
The Exempted Limited Partnership Law 2014 (‘the New ELP Law’) has replaced the Exempted Limited Partnership Law (2013 Revision) (‘the Previous Law’). The New ELP Law includes significant changes to the Cayman Islands’ statutory framework, regulating exempted limited partnerships (ELPs) that will increase the attractiveness of ELPs and will be appreciated by managers, investors and creditors alike. Private equity sponsors in particular will notice substantial improvements that are indicative of Cayman’s continuing commitment to balanced and commercially sensible legislation.
Important developments incorporated into the New ELP Law include the following:
The New ELP Law introduces increased flexibility for partners to determine a greater number of matters in the partnership agreement (LPA). For example, partners of an ELP can now agree in the LPA to amend the scope of the fiduciary obligations of the general partner (GP) or to incorporate remedies that might otherwise be considered penal in nature. These changes demonstrate an acceptance that the LPA is a commercial agreement negotiated by sophisticated parties…
Click on the link below to read the rest of the Ogier briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
Decisions over the past 12 months will provide considerable comfort to those concerned about exposure to clawback action.
The High Court of England and Wales may refuse to exercise its discretion to wind up companies incorporated abroad where there would be little likelihood of the petitioners deriving benefit from the winding-up.