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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London practitioner hit by u100,000 claim over visa

DEFUNCT south London partnership Graham Peries & Co has received another writ from a former client who claims the firm owes her almost u100,000 after it failed to return money lodged in support of a visa application. The firm, which has other cases pending against it, was last week also ordered to pay $69,979 to […]

Poll shows poor knowledge of EU law

ONLY 33 per cent of European lawyers received instruction in EU law at university and two in three consider their knowledge inadequate, a Gallup poll has shown. The survey, which was carried out for the European Commission, canvassed 635 lawyers throughout the 12 European Union member states. It reveals that 48 per cent did not […]

White collar crime isn't paying

The mega fraud trials of recent years have failed to net results. Grania Langdon-Down examines what can be done Five years ago, the first Guinness trial raised the curtain on a series of expensive marathon fraud trials intended to serve as a high-profile crackdown on the commercial excesses of the 1980s. Today, the latest in […]

Open this mutual exclusion zone

On 23 June the results of the qualified lawyers transfer test were published, giving the names of those already qualified lawyers who have successfully met the Law Society’s requirements in passing further tests to become solicitors. Those from foreign jurisdictions will then gain an additional qualification, whereas the barristers qualified in England might well be […]

Irving goes to BDO as unit director

Leading legal IT consultant John Irving is joining BDO Stoy Hayward as director of the professional practices unit. Irving, who has been running his own consultancy for over a year since leaving Robson Rhodes, says: “I am delighted with the development.” The move will enable him to undertake larger projects which he says he had […]

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