Latest Briefings

Cayman Islands Court of Appeal re-examines master-feeder redemption procedures

Introduction In the matter of Ardon Maroon Asia Master Fund (in Official Liquidation), CICA, 20 May 2020, the Cayman Islands Court of Appeal has reiterated the importance of following the natural and ordinary meaning of a fund’s articles, in order to ensure that redemptions are effective. This is particularly important in the context of a master-feeder […]

Cayman Islands bank regulatory update – July 2020

The Monetary Authority (Administrative Fines) (Amendment) Regulations, 2020 (the Amendment) came into force in the Cayman Islands on 26 June 2020. The Amendment amends Schedule 1 of the Monetary Authority (Administrative Fines) Regulations (the Regulations) to extend the administrative fines regime beyond breaches of the Anti-Money Laundering Regulations to a much broader spectrum of breaches under various Cayman regulatory laws, including the Banks and Trust Companies Law (collectively, the Regulatory Laws).

Three cases on contempt of court and what they mean for commercial fraud litigation

By Shantanu Majumdar QC Recent weeks have seen a spate of decisions on contempt of court. Most are sentencing cases and thus of little general interest since they turn on their facts. However, three cases do raise issues of general principle which not infrequently arise in the commercial fraud context. In this article, Shantanu Majumdar […]

Challenges faced by banks and the financial implications of lockdown

Many would be forgiven for comparing the current economic impacts of the Coronavirus (COVID-19) pandemic to that of the credit crunch over a decade ago. At the time it was suggested that the permanent damage done to the productive potential of nations across the world was a staggering $200 trillion of which £7.4 trillion was estimated in the UK. The longer the lockdown continues, intuitively, it feels like the financial implications may not be wildly different this time round. However, the challenges faced by the UK Government today are surely greater than those of 2008.

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MUFG unveils inaugural EMEA panel with ten firms winning places

Japanese-headquartered Mitsubishi UFG Financial Group has finalised its first European, Middle East and Africa panel, with three magic circle firms named on the roster. MUFG has awarded contracts to Allen & Overy, Ashurst, BCLP, Baker McKenzie, Clifford Chance, Dentons, Herbert Smith Freehills, Linklaters, Norton Rose Fulbright and Simmons & Simmons. MUFG is one of the […]

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Legal roles axed as Uber reveals further job losses

Uber’s in-house legal team in the US has been affected by the ride-hailing company’s decision to cut 3,000 roles overall this week, as it faces a drop in user demand amid the Covid-19 crisis. The Lawyer understands that about 17 per cent of Uber’s US legal team headcount has been laid off, including attorneys, claims […]

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Ashurst and Eversheds lead on Carluccio’s rescue deal

Ashurst and Eversheds Sutherland have seen through the sale of struggling Italian restaurant Carluccio’s, after it fell into administration nearly two months ago. Carluccio’s brought in FRP as its administrators in late March, with Ashurst restructuring partner Drew Sainsbury taking the lead from the firm. Today it was announced that Boparan Restaurant Group will take […]

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