A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more
8/29/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Corporate Restructuring ,
Data Breach ,
Dispute Resolution ,
Economic Substance Doctrine ,
EU ,
Insurance Industry ,
NAIC ,
Personal Data ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Reinsurance
In the Matter of Gulf Investment Corporation et al v The Port Fund LP et al (“Gulf Investment”) and the earlier judgment of Dorsey Ventures Limited v XIO GP Limited (“Dorsey Ventures”), the Cayman Islands Grand Court provided...more
The International Tax Co-operation (Economic Substance) Act (2024 Revision) (the “ES Act”) was brought into force to demonstrate the commitment of the Cayman Islands as a member of the Organization for Economic Co-operation...more
As the Grand Court of the Cayman Islands reopens for 2024, we reflect on 2023 and some of the large-scale cross-border insolvency and restructuring proceedings, and complex commercial disputes dealt with in the jurisdiction...more
2/9/2024
/ British Virgin Islands ,
BVI Business Companies ,
Cayman Islands ,
CIMA ,
Commercial Litigation ,
Companies Act ,
Corporate Governance ,
Corporate Restructuring ,
Dispute Resolution ,
FATF ,
Insolvency ,
UK Privy Council
The Cayman Islands Grand Court recently delivered its judgment in Re Shinsun Holdings (Group) Co., Ltd. FSD 192 of 2022 (DDJ) (21 April 2023) (unreported) (the “Shinsun Judgment”) in which the court determined the ultimate...more
9/8/2023
/ Appeals ,
Bermuda ,
British Virgin Islands ,
Cayman Islands ,
Commercial Litigation ,
Companies Act ,
Corporate Restructuring ,
Creditors ,
Dispute Resolution ,
Hong Kong ,
Insolvency ,
International Finance ,
Investment Schemes ,
Investors ,
UK
The Singapore Court recently delivered its judgment in Hyflux Ltd (in compulsory liquidation) v Lum Ooi Lin [2023] SGHC 113 (“Hyflux”). Despite the litigation funding landscape being slightly different in Singapore, the...more
The Cayman Islands reformed its trust laws to provide a statutory mechanism by which flawed decisions of trustees and other fiduciaries can be set aside on application to the court. The codification of the Hastings‑Bass rule...more
5/10/2023
/ Beneficiaries ,
Board of Directors ,
Breach of Duty ,
Cayman Islands ,
Companies Act ,
EU ,
Fiduciary ,
Fiduciary Rule ,
Trustees ,
Trusts ,
UK ,
UK Supreme Court
The Cayman Islands, as a British Overseas Territory, is a party, through the United Kingdom, to the Hague Convention on the Service Abroad of Judicial and Extra-Judicial Documents in Civil or Commercial Matters (‘the Hague...more
10/4/2022
/ BVI Business Companies ,
Cayman Islands ,
China ,
Companies Act ,
Coronavirus/COVID-19 ,
Disclosure Requirements ,
Ex Parte ,
Foreign Corporations ,
Foreign Defendants ,
Foreign Jurisdictions ,
Guidance Update ,
Hague Convention ,
Russia ,
UK
As leading international financial centres, both Bermuda and the Cayman Islands have detailed legislation in place providing methods for the civil recovery by Governmental agencies of the proceeds of crime and unlawful...more