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Corporate receivership applications – Fighting back
Litigation, Insolvency and Restructuring

Corporate receivership applications – Fighting back

This article, published by IFLR, discusses the role of receivership applications within the Cayman Court. Paul Smith and Katie Pearson deliberate the alternative ways receivers can be appointed, including prior to judgement and by way of equitable execution. The article draws upon several cases from the Cayman Islands courts, including the 2011 case of TMSF v Merrill Lynch Bank and Trust Company (Cayman) Ltd.
The British Virgin Islands in digital movement: Peer-to-peer lending introduced
Investment Funds

The British Virgin Islands in digital movement: Peer-to-peer lending introduced

Since the rushing air of financial technology hit the shores of the British Virgin Islands over the last few years, many BVI based service providers have been busy servicing this new and exciting area of business. The growth of FinTech is perhaps unavoidable as the world continues to digitize and electronic transactions continue to prove more beneficial to consumers, in terms of cost and effectiveness. As a result, the interest venture capitalists have taken in this burgeoning industry is undeniable and offshore jurisdictions like the BVI continue to take electronic steps in order to keep pace with the demands of the new kids on the blockchain.
Harneys Cayman climbs the Legal 500 rankings
Banking and Finance

Harneys Cayman climbs the Legal 500 rankings

The Harneys’ Cayman Islands office has climbed the rankings in Legal 500, moving up to tier two in Banking, Finance and Capital Markets and Dispute Resolution. They have remained consistent in all other categories including their top tier ranking for Trusts/Private Client.
Virtual Currency Regulation Review: Cayman Islands chapter

Virtual Currency Regulation Review: Cayman Islands chapter

Harneys lawyers contributed the Cayman Islands chapter in the Virtual Currency Regulation Review. The chapter gives a general introduction to the legal and regulatory framework in Cayman. In addition, it looks at the securities and investment laws; banking and money transmission; anti-money laundering; regulation of exchanges; regulation of issuers and sponsors; tax; and other issues. The Virtual Currency Regulation Review is published by The Law Reviews.
Cayman Islands AML update: 31 December 2018 AML officer deadline reminder and amended guidance notes
Investment Funds

Cayman Islands AML update: 31 December 2018 AML officer deadline reminder and amended guidance notes

As we noted in our earlier alert, investment funds that already existed on 1 June 2018 and which are registered with the Cayman Islands Monetary Authority (CIMA) as mutual funds, have to notify CIMA with details of the natural persons, at managerial level, appointed as their AML Officers. These appointments had to be made by 30 September 2018 and the notification has to be filed on CIMA’s REEFS portal by 31 December 2018.
Investment funds in Cyprus (non-UCITS)
Investment Funds

Investment funds in Cyprus (non-UCITS)

Cyprus is one of the up and coming funds jurisdictions in the European Union. For years popular for foreign direct investment in Central and Eastern Europe and the Middle East, the Cyprus’ funds regime now caters fully for pan-EU regulation under the Alternative Investment Fund Managers Directive 2011/61/EU while concurrently providing for lighter-touch alternatives. Importantly, Cyprus continues to be one of the most tax-competitive jurisdictions in the EU.