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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Bivonas’s QC hire heralds alternative model

London litigation and commercial firm Bivonas has recruited 23 Essex Street head of financial fraud and crime Mark Rainsford QC. Bivonas chief executive Antony Brown said: “We intend to expand with other senior advocates. “This is the beginning of an alternative model – ultimately we’ll be competing with both solicitors and chambers.” Rainsford said the […]

Harbottle looks to tax dept for new chief

Media and entertainment firm Harbottle & Lewis has appointed tax partner Glen Atchison as its new managing partner, taking over from Lawrence Abramson. Atchison will take up his role at the start of June after leading the tax practice for 10 years. He has been on the firm’s management committee since 2006.

Shoosmiths’ turnover breaches £100m mark

Shoosmiths has broken through the £100m barrier with a turnover of £103m, which is an 8.4 per cent rise on the previous year’s. Chief executive Paul Stothard said the firm had begun to feel the benefit of reducing its dependence on volume work. “We have some good relationships on the volume side, but what we’re […]

Stephenson Harwood and Norton Rose scoop sharia insurance deal

Stephenson Harwood and Norton Rose have snared lead roles on the outsourcing of sharia-compliant insurance, believed to be the first deal of its kind.Norton Rose, led by partner Mike Rebeiro, advised Principle Insurance on the £90m outsourcing…

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