Cayman Islands

Results for Cayman Islands

Cayman Islands Monetary Authority Issues a Statement on Virtual Currencies

On 23 April 2018, the Cayman Islands Monetary Authority (“CIMA”) released a public advisory on virtual currencies to warn of the risks associated with investments in initial coin offerings (“ICOs”) and virtual currencies and which set out some of the red ...

Resource Article - twallace@abiwor... - 05/08/2018 - 14:24 - 0 comments - 0 attachments

Cayman Islands AML Requirements

Further to our updates issued in October 2017 and February 2018, the Cayman Islands has updated and consolidated a number of its laws on the prevention of money laundering (“AML”) and the countering of terrorist financing (“CTF”). The current Cayman ...

Resource Article - twallace@abiwor... - 05/08/2018 - 13:39 - 0 comments - 0 attachments

Cayman Islands Beneficial Ownership Regime Update

Since our Cayman Islands Beneficial Ownership Regime Alert in May 2017, the Cayman Islands Government has amended the beneficial ownership regime under the Companies (Amendment) (No. 2) Law, 2017 and the Limited Liability Companies (Amendment) (No.3) Law ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:23 - 0 comments - 0 attachments

Appealing Appraisal Actions: New Judgments from the Cayman Courts

A well-known and now widely used part of local legislation, Section 238(8) of the Cayman Islands Companies Law (the “Companies Law”), entitles a shareholder who dissents from a merger or consolidation of a Cayman company under the statutory merger provis ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:16 - 0 comments - 0 attachments

Conyers Expands Corporate Practice in Cayman with Partner Hire

Conyers Dill & Pearman is pleased to announce the appointment of Derek Stenson as a Partner in the Cayman Islands Corporate practice. Derek has particular expertise in insurance, reinsurance and structured products. He brings with him a wealth of exp ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:11 - 0 comments - 0 attachments

US FATCA and CRS Update

The Department of International Tax Cooperation ("DITC") has issued an industry advisory confirming that the Automatic Exchange of Information Portal ("AEOI Portal") has reopened with revised documentation. AEOI Portal Open with ...

Resource Article - twallace@abiwor... - 05/08/2018 - 11:02 - 0 comments - 0 attachments

Of Sound Mind and Memory: New Guidance for Trustees Regarding Settlor Capacity in the Cayman Islands

The question of whether an individual has the mental capacity to exercise his or her legal rights or powers is one fraught with difficulties, and inevitably subject to great debate. In the recent decision of CI Trustees Ltd -v- RDK and GMB1, the Grand Co ...

Resource Article - twallace@abiwor... - 04/30/2018 - 10:26 - 0 comments - 0 attachments

The Emerging Markets Restructuring Journal

This sixth issue is special in that it is published in anticipation of the International Bar Association’s Latin American Regional Forum in Mexico City and includes a diverse range of articles reflective of this region. A piece on the Oi restructuring sh ...

Resource Article - twallace@abiwor... - 04/03/2018 - 10:43 - 0 comments - 0 attachments

Dissenting Shareholders, Freezing Injunctions, and Provision for Payment: A new judgment of the Cayman Islands Court of Appeal

In In the matter of Trina Solar Limited1 (“Trina Solar”) the Grand Court of the Cayman Islands refused an interlocutory application, made by a group of dissenting shareholders (the “Dissenters”) of a Cayman Islands company, for worldwide freezing orders ...

Resource Article - twallace@abiwor... - 03/13/2018 - 12:06 - 0 comments - 1 attachment

Cayman Islands Anti-Money Laundering Regulatory Update - February 2018

The recent revisions to the anti-money laundering laws particularly impact all persons carrying out a “relevant financial business” (“RFB”) as defined under the Proceeds of Crime Law (2017 Revision) (the “Law”). An important change in the Law is the expa ...

Resource Article - twallace@abiwor... - 02/13/2018 - 11:34 - 0 comments - 0 attachments

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