Short-form mergers – Changyou judgment confirms appraisal rights in the Cayman Islands

The Cayman Islands Grand Court has confirmed that shareholders of companies that effect a ‘short-form’ merger pursuant to section 233(7) of Part XVI of the Companies Act (2021 Revision) are entitled to be paid the fair value of their shares on dissenting from the merger under section 238 of the Act.

Related briefings

The changing ESG landscape: keeping Guernsey ahead of the curve

Instead of fading out as a result of the global health crisis, there has been a marked expansion in funds with a strong sustainable focus – answering the calls of investors for the recovery from the pandemic to be green. But with this has come an ever-changing regulatory landscape.

BVI Incubator and Approved Funds – when and how to convert

In 2015, the Financial Services Commission (FSC) of the British Virgin Islands (BVI) introduced two new fund regimes to provide an efficient route for start-up managers to establish a track record and for smaller funds with friends and family money to establish open ended funds, being the Incubator Fund regime and the Approved Fund regime respectively.

Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?

While SPACs have existed for decades on public markets, a revival seems to be taking place, with SPACs representing about 60 percent of IPOs in the US in 2020. February 2021 saw the launch of the first Luxembourg SPAC in more than 10 years, highlighting the potential for Luxembourg to become the European hub for this type of funding structure. The jurisdiction not only offers a flexible and tax efficient legal framework but also the ability to rely on the European passport mechanism set forth in the Prospectus Regulation.

Latest Briefings

Irish regulation in focus: Culture and individual accountability

Increasingly, there is a focus on culture and individual accountability in regulated firms. This has been heightened by various consumer protection issues which have been investigated including the tracker mortgage examination; high profile enforcement actions and the recent engagement with insurers on business interruption cover during COVID-19. Consistently, the Central Bank of Ireland (“Central Bank”) […]

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budget money cash

Magic circle trio paid just £10m in UK corporation tax in 2019/20

Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters paid just under £10m in corporation tax to the UK Treasury, their most recent LLP accounts reveal, as rate increases formed a key part of this week’s Budget proposals to repair the economy. The figures shine a light on how UK firms are likely to be impacted by […]

Rebecca Maslen-Stannage Herbert Smith Freehills

Legacy Freehills partner wins HSF election race

Herbert Smith Freehills (HSF) has appointed its next senior partner following a contested election for the position. The election comes as incumbent James Palmer prepares to step down after more than six years in the role. The partnership’s vote has gone to Sydney-based corporate partner Rebecca Maslen-Stannage, who in May will become senior partner and […]

magazines

Reed Smith and A&O lead on New Scientist sale

Reed Smith, Allen & Overy and Freshfields Bruckhaus Deringer have acted on Daily Mail and General Trust’s (DMGT) £70m acquisition of New Scientist. DMGT instructed co-chair of Reed Smith’s global corporate group Delphine Currie on the purchase, alongside senior associate Daryl Cue and client relationship partner Lawrence Radley. The Daily Mail publisher picked up the […]

Clifford Chance’s digital arm CEO departs after three years

The chief executive officer of Clifford Chance‘s digital products unit Applied Solutions has left the business after three years. Jeroen Plink, the New York-based leader of the firm’s unit, has departed after growing the arm from a concept to a revenue-generating venture. Turnover first reached around £610,934 last year, matching an aim revealed by The Lawyer when the […]

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