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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Leigh Day files claim against Sports Direct over zero hours

Leigh Day has filed an employment tribunal claim on behalf of a Sports Direct employee employed on a controversial ‘zero hours’ contract. The claim has been launched on behalf of Croydon employee Zahera Gabriel-Abraham, with the financial backing of lobbying group 38 Degrees. Gabriel-Abraham took a job at Sports Direct in October 2012 as a […]

City airport

​Wragges and Eversheds take top slots on newly formed panel at City Airport

London City Airport has wrapped up a competitive tendering process that has seen four firms win favoured status with the business’s legal department. Birmingham-based Wragge & Co and Eversheds are the two big winners, taking preferred supplier status for London’s fifth largest airport. Wragges has bagged the top slot for all the airport’s commercial and […]

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Diversity efforts fail to pay off at top end of profession

Firms’ efforts to promote gender diversity in the profession appear to be failing, with the proportion of partners who are women falling at half of the UK top 20. Research for The Lawyer’s UK 200 shows that among the 18 firms to have provided a breakdown of the gender of their partnerships so far, the […]

Customs enforcement of intellectual property rights: what is changing?

The European Parliament and Council of the European Union have adopted a regulation, to come into force from 1 January 2014, which amends the existing regime for the border detention of goods that infringe intellectual property rights. This article summarises the existing regime and identifies the principal changes to be introduced by the new regulation. […]

Safe harbour shopping — the latest trends

The Organisation for Economic Co-operation and Development Council (OECD) has released a revised version on the use of safe harbours in its Transfer Pricing Guidelines. This is welcome news for taxpayers. Very broadly, transfer pricing rules permit tax authorities to adjust, for tax purposes, the price paid for goods and services sold or supplied between […]

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