Comparison of regulatory regimes for closed-ended PI funds: Cayman Islands and BVI

The Cayman Islands and the British Virgin Islands (BVI), two of the most popular jurisdictions for private equity, venture capital, real estate and credit funds, have each recently introduced a new regulatory regime for closed ended private investment funds.

Related briefings

Recognition of UK insolvency practitioners in Jersey

Introduction In the current COVID-19 environment it is likely that there will be more businesses becoming insolvent. Some of those businesses will have an interest in Jersey property. For example as owners of Jersey property or holders of a lease of retail premises situated in the Island. The business may also have locally employed employees […]

Professional payment guarantee newly introduced in Luxembourg

A new professional payment guarantee law has been introduced in Luxembourg to provide professionals with a tool that grants a wider scope for contractual freedom while protecting the parties from a re-qualification that may not be in line with their legitimate expectations and their commercial agreements.

New regulations enable BVI companies to trial innovative fintech products

The British Virgin Islands recently introduced new regulations relating to products and services in the innovative fintech space, reaffirming its commitment to remaining a jurisdiction of choice for new financial products and services. These new regulations represent an exciting development in the approach taken by the BVI to the regulation of novel financial technology, representing a good balance between oversight and accountability on the one hand, and freedom to innovate on the other.

Cayman Islands restructuring – current state of play

Until the Cayman Islands introduces any changes to its corporate insolvency regime, with the COVID pandemic pushing many groups into the zone of insolvency, the following considerations remain relevant to structures involving a Cayman Islands entity: In recent years the Cayman Islands courts have become increasingly sympathetic to the needs of debtor companies looking to […]

Latest Briefings

Swiss Federal Supreme Court follows the practice of EPO’s Board of Appeal on singling out

In a recent decision (4A_613/2019, 11 May 2020), the Swiss Federal Supreme Court (Supreme Court) followed the practice of the Board of Appeal of the European Patent Office (EPO) as it held that the singling out of single features from two separate lists of features and therefore the combination of these  two specific features constitutes an extension of the subject-matter of the patent application leading to its nullity.

Recent Commercial Court decision highlights the importance of strict compliance with claim notification provisions in share and business sale and purchase agreements

In a recently delivered decision, Dodika Limited & Others v. United Luck Group Holdings Limited [2020] EWHC 2101 (Comm), Mr Peter MacDonald Eggers QC (sitting as a Deputy Judge of the Commercial Court) has ruled that a notice of claim under a tax covenant contained in a share sale and purchase agreement (SPA) failed to comply with the requirements of the claim notification provisions in the SPA. As a result, a sum of USD 50 million held in escrow was liable to be released to the SPA sellers.

Cyber security: Proactivity vs reactivity

Worried about the rise in cyber crime? Peter Yapp explains to Counter Terror Business Magazine how to “expect the unexpected” and get proactive when it comes to cyber security.

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Manchester City FC

Success for Manchester City as lawyers overturn Champions League ban

Manchester City can breathe a monumental sigh of relief after the Court of Arbitration for Sport (CAS) today set aside and replaced a previous decision that banned them for two years from the Champions League. In a highly-anticipated ruling handed down on Monday morning, the CAS announced it was overturning a two-year ban and reducing […]

Wirecard

Embattled Wirecard brings in new compliance head

Wirecard has hired a new head of compliance for EMEA, as it deals with an ongoing investigation into its financial affairs. The embattled payments group is seeking the help of Claudia Bahmann, who is understood to have joined the company’s Munich group as head of compliance for the EMEA region in June. Bahmann is a […]

Hong Kong

As unrest shakes Hong Kong, lawyers keep on moving

Despite having endured a long period of disruption caused by the pro-democracy protests in 2019, Hong Kong has remained the largest legal recruitment market in Asia, The Lawyer Asia Pacific 100 2020 report reveals. This year’s Asia Pacific 100 report, which came out on Monday, shows that 33 per cent of the Top 30 global […]

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