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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Cable & Wireless set to cut legal panel

Cable & Wireless is looking to slash the number of law firms it uses as part of a company-wide reorganisation and profit drive. Group general counsel Nick Cooper has told The Lawyer he intends to get a grip on legal expenditure. “We will have a more cost-conscious business and this means everything including greater control […]

Eight-lawyer Gibson Dunn raid increases Veil Jourde woes

French independent Veil Jourde has lost another two partners as M&A specialists Ariel Harroch and Marie-Charlotte Trebuchet leave for Gibson Dunn & Crutcher. Harroch and Trebuchet join Gibson Dunn along with six associates. They leave Veil Jourde less than two months after Guillaume Kuperfils joined Mayer Brown Rowe & Maw together with four associates. Harroch […]

Southern authorities team up to bulk-buy new panel

A consortium of 18 local authorities in the south of England has slashed its legal costs by up to a third by selecting a combined legal panel. The local authorities’ combined annual legal spend is between £1m and £2m on average, with the panel firms offering reduced rates from between £150 and £200 an hour […]

Hammonds hit by resignations of three leading competition partners

Hammonds’ Brussels office has been hit by the resignation of three partners, including office head Konstantinos Adamantopoulos. Adamantopoulos, along with competition head José Rivas and trade partner Edward Borovikov, have all resigned from the firm and are understood to be considering their options. Hammonds’ managing partner Peter Crossley confirmed that the trio had resigned from […]

CC ready for Chinese joint venture

Clifford Chance’s Asian managing partner Jim Baird has vowed to team up with a Chinese law firm as soon as the Chinese government allows it. Although the government has not yet bowed to international pressure to deregulate, Baird is prepared to begin discussions with local firms as soon as the market is opened up. “Really […]

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