Grand Court of the Cayman Islands strikes out a creditor’s winding up petition and comments on the relationship with arbitration clauses

In the recent case of Re Grand State Investments Limited, the Grand Court of the Cayman Islands struck-out a winding-up petition presented against Grand State Investments Limited by a shareholder claiming a debt on the ground that the alleged debt was disputed on bona fide and substantial grounds.

Related briefings

Principles applicable to an ‘insolvent’ trust in Jersey

It is important that trustees understand their obligations if their trust structure comes under financial stress. Helpfully, the Jersey courts have provided guidance on the principles applicable to ‘insolvent’ trusts, which is likely to be highly persuasive in other jurisdictions.

The economic substance requirements for Jersey partnerships

The Taxation (Partnerships – Economic Substance) (Jersey) Law 202- was lodged with the States Assembly on 18 May 2021 and, if passed, is expected to come into effect from 1 July 2021 (with a six month transition period to 1 January 2022 for partnerships established before 1 July 2021).

SPACs in 2021 – the new model for private equity?

This year has seen a number of PE backed SPAC launches, as well as announcements of proposed PE SPACs, which in total could amount to several billion dollars in IPO proceeds. If these SPACs prove successful, then the SPAC could become a major part of how PE does business over the next decade.

STEP Geneva Webinar – Beneficial Ownership Registers

Partners Simon Schilder and Dave Sherwin along with Counsel Katherine Neal and Managing Associate Chris Hards will speak on the STEP Geneva Webinar Series for 2021. See the below link to find out what the presentation on Beneficial Ownership Registers covers:….

Recent trends: provisional liquidation in the Cayman Islands

Introduction There are two grounds on which provisional liquidators (PLs) may be appointed in the Cayman Islands under the Companies Act (2021 Revision) (the Companies Act), following the presentation of a winding up petition and before the making of a winding up order. The first is what is commonly referred to as a “full powers” […]

Latest Briefings

European Access Plan: Your gateway to business in the EU

On 24 December 2020, the UK officially left the European Union and, under the Brexit agreement, is now a third country to the EU, outside both the single market and customs union. The change means that UK-EU cross-border business activities are now subject to a number of trade barriers, including adjusted and strengthened border controls and additional administrative work.

Costs risk in appeals from the Irish tax appeals commission

The Finance (Tax Appeals) Act, 2015 introduced a new architecture for the hearing and determination of tax appeals. Amongst other changes, the Tax Appeals Commission (the “TAC”) replaced the Appeal Commissioners, with appeals directly to the High Court only on question(s) of law arising from the TAC’s determination (a ‘case stated’), rather than to the Circuit Court on the basis of a full rehearing of the tax appeal.

EAEU Treaty on trademarks comes into effect

The Eurasian Economic Union (EAEU) Treaty on Trademarks, Service Marks and Appellations of Origin of Goods came into effect on April 26, 2021. It serves as a foundation document for the formation of a regional system within EAEU territory.

Banking leaders discuss keeping pace with growth, digital transformation and driving operational efficiency

In a live webinar hosted by the Financial Times, Clare Hart, CEO of Williams Lea, joined two top operational leaders in the corporate and investment banking industry, David Sliney, Chief Operating Officer of investment bank, Stifel and Paul Poggi, Managing Director and Chief Operating Officer of specialist M&A advisor, Harris Williams, in a panel discussion on the intense pressure within corporate and investment banks to find better and more cost effective ways of running core support functions.

Recommended

Fintech Divido appoints new head of legal

Fintech Divido has taken on a new legal chief from travel tech company Snowfall. Toby McCrindle joins Divido as head of legal and compliance after a short spell at Snowfall. He joined Snowfall as its first lawyer last year after serving as legal counsel at BAE systems. McCrindle began his legal training at Allen & […]

Linklaters

Linklaters takes legal duties on Government’s Pool Re review

Linklaters has won a mandate to advise the Government on its five-year review of Pool Re, Britain’s leading terrorism reinsurer. The magic circle firm will rack up £395,000 to provide insurance and commercial expertise around the negotiating and drafting of commercial agreements and contracts. The review, run by HM Treasury, is aimed at ensuring that […]

Nigel Rawding Twenty Esesx

The seven biggest moves at the Bar in April

3 Paper Buildings and St Philips Barristers are expanding their family and personal injury groups respectively with new hires, while commercial sets poached big hitters from the City’s magic circle law firms. Here are the seven biggest moves from April: Ria Herbert and Sam Pentony, 3 Paper Buildings Last month, 3 Paper Buildings announced that […]

Find legal roles

Make your next move with The Lawyer Careers. Search and apply for thousands of vacancies, or receive email alerts for new roles when they go live. Whether you're looking at private practice, in-house legal or an exciting business support role, you'll find your future here.

Search vacancies