Latest Briefings

Cayman Islands Court of Appeal re-examines master-feeder redemption procedures

Introduction In the matter of Ardon Maroon Asia Master Fund (in Official Liquidation), CICA, 20 May 2020, the Cayman Islands Court of Appeal has reiterated the importance of following the natural and ordinary meaning of a fund’s articles, in order to ensure that redemptions are effective. This is particularly important in the context of a master-feeder […]

Cayman Islands bank regulatory update – July 2020

The Monetary Authority (Administrative Fines) (Amendment) Regulations, 2020 (the Amendment) came into force in the Cayman Islands on 26 June 2020. The Amendment amends Schedule 1 of the Monetary Authority (Administrative Fines) Regulations (the Regulations) to extend the administrative fines regime beyond breaches of the Anti-Money Laundering Regulations to a much broader spectrum of breaches under various Cayman regulatory laws, including the Banks and Trust Companies Law (collectively, the Regulatory Laws).

Three cases on contempt of court and what they mean for commercial fraud litigation

By Shantanu Majumdar QC Recent weeks have seen a spate of decisions on contempt of court. Most are sentencing cases and thus of little general interest since they turn on their facts. However, three cases do raise issues of general principle which not infrequently arise in the commercial fraud context. In this article, Shantanu Majumdar […]

Challenges faced by banks and the financial implications of lockdown

Many would be forgiven for comparing the current economic impacts of the Coronavirus (COVID-19) pandemic to that of the credit crunch over a decade ago. At the time it was suggested that the permanent damage done to the productive potential of nations across the world was a staggering $200 trillion of which £7.4 trillion was estimated in the UK. The longer the lockdown continues, intuitively, it feels like the financial implications may not be wildly different this time round. However, the challenges faced by the UK Government today are surely greater than those of 2008.

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Vicky Wickremeratne’s expertise in defending financial services clients in high reputational risk cases goes far beyond her five years as a partner at Simmons & Simmons. Prior to returning to Simmons in 2013, she served as managing director and senior counsel in Goldman Sachs’ Hong Kong office. Her six-year in-house stint working on the global […]

Bristol

Simmons shifts to larger Bristol premises after headcount gains

Simmons & Simmons is recruiting for new roles to bring its Bristol base to a headcount of over 200, following its move into a new, larger office. This week, the firm moved into a new office in Finzels Reach from its former base in Temple Quay, increasing its office space from 16,000 to 27,000 sq ft. […]

Simmons & Simmons

Freshfields partner moves over to Simmons’ CLO team

Simmons & Simmons has recruited Freshfields Bruckhaus Deringer partner James Grand to lead its practice focused on collateralised loan obligations (CLO). Grand has joined the structured finance and derivatives practice of the firm, having been promoted to partner at the magic circle firm in 2007. He joined Freshfields in 1995. His arrival follows Simmons’ expansion of […]

Simmons financials rebound in second consecutive year of PEP growth

Simmons & Simmons’ average profit per equity partner (PEP) rose 8 per cent to £686,000 over 2017/18, just two years after the firm reported a 10 per cent slump in its profits. In its 2017/2018 financials, Simmons’ turnover grew 12 per cent from £316.1m to £354m, following on from a more modest 7 per cent rise in […]

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