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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Shoosmiths advises on £37m sale of Global Group to Impellam

Shoosmiths advised the sellers on the disposal of Global Group (UK) Ltd, a global healthcare business, to Impellam Group plc for an enterprise value of around £37m. Shoosmiths corporate partner, Sanjeev Sharma, led the deal with support from senior associate Iain Butler, associate Claire Checketts, trainee solicitor Aleksandr Bosch and paralegal James Grinstead. The corporate […]

No 5’s Tim Pole defends in bigamy and benefit fraud case

Anthony Foley has been jailed for 20 months after admitting charges of bigamy and obtaining benefits by deception. Birmingham Crown Court heard that Foley’s wife Maxine, who suffered from Friedreich’s Ataxia, was admitted to a home in 2006 because she began to require 24-hour care. A year later Foley stopped visiting his wife, saying he […]

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Dechert joins forces with Saudi firm Hassan Mahassni

Dechert has joined the growing number of international firms in Saudi Arabia through a tie-up with local firm Hassan Mahassni. Hassan Mahassni, based in Jeddah, specialises in corporate, commercial and financial transactions both locally and internationally. Work carried out by the firm includes joint ventures, M&A, capital market transactions, banking, project finance and Islamic finance. The firm […]

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KPMG legal beats £10m revenue target in first year

Revenues generated by KPMG’s legal business are set to exceed the £10m target it set last October when it was granted an ABS licence. The accountancy firm was the second of the ‘Big Four’ to be awarded an ABS for its multi-disciplinary practice, rather than for a separate legal entity. Almost a year on and […]

Agility is all

Amid the clamour for work-life balance, law firms are responding with a series of flexible working policies that allow more people to work from home. And of course, with rents a major part of firms’ expenditure, it helps take the pressure off space requirements too. Will it soon become the norm? Herbert Smith Freehills makes […]

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