Cayman Islands Court of Appeal validates test under section 99 of the Companies Law

The Cayman Islands Court of Appeal has provided much needed clarification of the test for validating certain transactions by companies that are subject to a winding up petition, pursuant to section 99 of the Companies Law (2020 Revision) (the “Companies Law”).

Related briefings

Covid-19: Duties of Guernsey directors

As companies continue to adjust to operating under the various regimes put in place by both the States of Guernsey and governments globally in response to the COVID-19 pandemic, and even now look forward to how and when restrictions may be eased, the Guernsey Financial Services Commission (the GFSC) has issued guidance on matters they believe directors should give particular regard to when undertaking their role.

Trusts and insolvency – a guide

Private wealth structures are not immune from insolvency. Here we examine the Jersey and Guernsey position from the trustee’s perspective and consider the issues with which a trustee needs to be familiar.

Covid-19 temporary voluntary arrangements between Jersey landlords and tenants in respect of residential tenancies

Due to the COVID-19 pandemic the Jersey Courts are giving priority to criminal cases and those involving children and are unlikely to be dealing with matters relating to property, including proceedings for rent arrears, lease cancellation, orders for possession and eviction (Tenancy Disputes). The Government of Jersey has issued Guidance for both commercial and residential […]

Latest Briefings

Trends in transatlantic acquisition finance

Contents A transatlantic future The US influence on the European market The rise of the non-bank lenders The patchwork of Europe The political impact Case Study: Financing Bain’s Acquisition of Kantar from WPP Team structure Conclusion: what next? Key takeaways The convergence of documentary terms, investors and commercial approaches across the European and US loan […]

MLD5 update and new EU AML action plan

The European Commission has issued a recent update on the Fifth Anti-Money Laundering Directive (MLD5). We examine what the MLD5 entails and outline the next steps to be taken.

High Court analyses compensation order regime under the CDDA accounting

The compensation order regime Compensation orders aim to make directors financially accountable for the consequences of their unfit conduct. They were introduced in October 2015 by the Small Business, Enterprise and Employment Act 2015 which amended the Company Directors Disqualification Act 1986 (CDDA). Under the new regime, the Insolvency Service can apply to court (on […]

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More than coronavirus itself, what keeps lawyer Tancredi Marino awake at night is the anguish caused by the lockdown. “I am a fatalist. If it gets me, it gets me,” the Milan-based DWF tax partner says, stuck in his home. The claustrophobic inability to move is a feeling that he grapples with on a daily […]

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BCLP and HSF secure timely logistics deal for Blackstone

Bryan Cave Leighton Paisner (BCLP) and Herbert Smith Freehills (HSF) have acted on Blackstone’s £120m acquisition of a logistics portfolio from Clearbell Capital. BCLP acted for Clearbell from its London and Southampton offices, led by funds and investment management head Justin Cornelius and partner Kieran Saunders. Partners Claire Milton and Verity Waington advised on real […]

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Humphries Kerstetter cuts charge-out rates for clients

In anticipation of the economic impact that coronavirus will have on clients, Humphries Kerstetter is making the bold move to cut its charge-out rates across the board. Partner rates, which previously ranged between £390 to £450 an hour, will be set at a standard £350 as of April 1 2020. While reductions will apply to […]

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BT parts ways with legal tech business after eight years

Telecoms giant BT has sold its legal technology business Tikit, with legal advisers including Kirkland & Ellis and Addleshaw Goddard. The sale came after BT scanned the market for potential buyers as part of a divestment process that began in the summer of 2019. Financial terms were not disclosed. Tikit provides technology solutions to legal […]

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