Granting of guarantees by British Virgin Islands companies

Corporate guarantees are commonly provided by British Virgin Islands (BVI) companies. The BVI statutory regime makes the provision of such guarantees simple and efficient. Corporate guarantees should therefore generally be considered by lenders when structuring security packages involving BVI companies.

Related briefings

Recognition and Assistance for PRC Insolvency in Hong Kong

Synopsis A recent case in Hong Kong, has demonstrated both the ability and willingness of common law courts to recognise insolvency appointments made by the courts of the People’s Republic of China (‘PRC’), and to grant appropriate assistance at common law. It is to be hoped that this proven track record will pave the way for easier recognition of common law court appointed liquidators in PRC, where, unlike in common law countries, such recognition is subject to the principle of reciprocity.

Cayman Islands Updated Economic Substance Guidance

Version 3.0 of the Cayman Islands guidance notes (“Guidance”) on the Cayman Islands’ economic substance legislation provides additional assistance in interpreting the International Tax Co-operation (Economic Substance) Law (the “ES Law”).

Latest Briefings

Coronavirus Update: Working From Home (again)

A government campaign was launched in early August to actively encourage employees to return to the workplace in an attempt to boost the wider economy and revitalise city centres that had been left empty after months of lockdown. However, within two months, the pandemic appears to have taken a turn for the worse and the government announced yesterday that once again people should work from home wherever possible.

Ukraine relaunches privatisation

September 2020 – Yesterday, 22 September, the President of Ukraine signed the Law which amends the Law of Ukraine “On privatisation of state and communal property” (the “Law”), introduces parliamentary control over the privatisation of state property and “unfreezes” the preparatory procedures to privatise large-scale state-owned objects. The Law was adopted by the Ukrainian parliament on 8 September 2020 and will become effective after its official publication.

Cyprus introduces film production incentives

Producers and media companies are invited to utilise the Cyprus landscape and infrastructure and enjoy a variety of legal, corporate and tax incentives for filming in Cyprus under the new Cyprus Filming Scheme.

Legal guide to pre-enforcement steps under Jersey and Guernsey law

The temporary Covid-19 protections offered by the UK government to businesses to prevent them from being subject to winding up petitions or wrongful trading actions are currently due to expire at the end of September (although an extension is very possible).

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Lawyers in trophy buildings are in for a shock

No-one with a fear of lifts wants to hear the phrase: “Welcome to the office, please proceed to floor 31”. But this has been common parlance in the legal industry and wider corporate sphere for some time now. Tower 42 – once the City of London’s tallest building – has been functioning since 1980, while […]

Loving legal life: Why people are failing at diversity

This week, systemic coaches Zita Tulyahikayo and James Pereira QC explain the dynamics that influence diversity, why much of the mainstream dialogue taking place is unhelpful, and what is needed from those who seek to promote diversity in society and our working lives

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Dechert hands out extra day of leave to all staff

Dechert has started the process of opening some of its offices in Europe, while also giving its staff globally an extra day of annual leave. The extra day off has been billed by the firm as a “day to thrive”, with many firms and businesses impressing it upon their staff to use up holiday now […]

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