Conyers Dill & Pearman advises Russian bank on the Bermuda law aspects of $3.2bn loan
Conyers Dill & Pearman’s Claire McConway has advised Sberbank of Russia on the Bermuda law aspects of a $3.2bn (£2bn) loan to Altimo Coöperatief.
The loan is intended to, among other things, pay the premium for conversion of the borrower’s preferred shares in Vimpelcom, a Bermuda company with ADRs traded on the New York Stock Exchange.
The loan was secured by a charge over the borrower’s shares in Vimpelcom.
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Cayman Islands Law Update: the Exempted Limited Partnership Bill and the Contracts (Rights of Third Parties) Bill
Following extensive consultation in both the public and private sectors, the Exempted Limited Partnership Bill 2014 was gazetted on 21 February 2014.
The court looked at the issue of whether a stranger to a trust, who dishonestly assists in a breach of trust, is a ‘trustee’ within the meaning of s21(1)(a) of the UK Limitation Act 1980.