Latest Briefings

UK Supreme Court offers lessons for landlords of multi-tenanted buildings in Cayman

In the UK, it is common for mutual-enforceability covenants (the nature of such covenants is explained below) to be found in the leases of flats located in apartment blocks. The enforcement of such a covenant was considered by the UK Supreme Court in Duval v 11-13 Randolph Crescent Ltd [2020] UKSC 18. While such mutual-enforceability covenants are (to the best of the author’s knowledge) not used in the Cayman Islands, the decision offers important lessons about leasehold obligations, especially where the same landlord enters into leases with multiple tenants in the same building.

Cayman injunctions in aid of foreign proceedings

Where a potential judgment debtor in “onshore” proceedings threatens to dissipate its assets, the plaintiff may face a Pyrrhic victory with no assets against which to enforce its judgment. Where the defendant is a Cayman company or has assets in Cayman, the Cayman Court has a statutory jurisdiction to grant a freezing injunction in aid of those foreign proceedings, which can extend to the worldwide assets of the defendant.

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Finance

Milbank Tweed Hadley & McCloy’s London finance practice has achieved an impressive first. Already accustomed to working on a number of the largest-to-date European deals, it has now brought a new structure to Europe. In February, the Netherlands became the first European country to agree to a contractually, rather than structurally, subordinated high-yield bond financing.The […]

Holland & Knight cuts partner pay to save associate bonuses

Holland & Knight partners have bucked the trend for lower associate bonuses by paying themselves less Partners are sacrificing between 6 and 10 per cent of their bonus compensation and have pledged to leave associate bonuses untouched.The cuts will be made across the board, irrespective of individual, practice or office performance.One of the hardest-hit offices […]

B&M and Linklaters in Chinese office bid

A&O, Freshfields and Herbert Smith ‘express interest’; red tape still limits growth Baker & McKenzie and Linklaters have become the latest firms to announce plans for a second Chinese office.A host of firms are expected to apply under the Chinese government’s relaxed rules on foreign law firms, but the application process has been subject to […]

Sticking at it

Galileo International is like the glue that holds the travel industry together, but like much of the sector, has it become unstuck post-11 September? Fiona Callister investigates If you have been on holiday in the last three decades, then there is a good chance that Galileo had a hand in bringing you your fortnight in […]

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