Fiduciary arrangements and trust in Luxembourg: new obligations for local and foreign trustees

In the aftermath of the obligation to create a register of beneficial owners as enacted by the Law of 23 January 2019 (the RBO Law) (please see our previous briefing here), the Luxembourg legislator has now established a register of fiducies and trusts.

Related briefings

EU-US Privacy Shield for data transfers ruled as invalid

The Office of the Data Protection Authority in Guernsey (ODPA) has warned companies in the Bailiwick to be aware of the recent Court of Justice of the European Union (CJEU) judgment which affects all businesses who transfer personal data outside of the Bailiwick and the European Union (EU).

The tale of three funds

This article explores the collapse of three funds across three different jurisdictions and then sets out some of the lessons to be learnt by directors and fund managers.

Guernsey 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 Guernsey company or has assets in Guernsey, the Royal Court of Guernsey has a statutory jurisdiction to grant an injunction in aid of those foreign proceedings including freezing injunctions to prevent defendants dealing with the relevant assets in Guernsey.

Latest Briefings

Food & Drink Update – September 2020

Guidance on the latest food and drink rules, including post-furlough planning and workforce measures manufacturers, Brexit and the workforce – how to prepare for upcoming changes, protecting innovation in the food & drink industry, and more.

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

Recommended

Hong Kong

Stephenson Harwood partner duo launch Hong Kong litigation boutique

Stephenson Harwood’s former Hong Kong senior partner has launched a new litigation-focused boutique, alongside two other lawyers from the UK firm’s office in the region. The new firm M B Kemp has been established by veteran litigation partners Malcolm Kemp and Yeeling Wan. Kemp was previously the senior partner of Stephenson Harwood’s Hong Kong office […]

Mike Burns, Addleshaw Goddard

Addleshaws invests in employment team with Eversheds hire

Addleshaw Goddard has brought in a new partner to lead its Manchester employment practice, as it continues apace with a streak of laterals. Partner Mike Burns joins the firm from Eversheds Sutherland, where he was a partner in the human resources practice group for six years. Before Eversheds, Burns spent five years at DLA Piper […]

Recruit legal talent

Get your role in front of over 300,000 legal professionals when you advertise with The Lawyer. Our team of experts provide bespoke solutions to help solve all your recruitment challenges.

Find out more