In an increasingly competitive market for dispute resolution across jurisdictions, commercial courts still need to work together to uphold the rule of law and support international economic cooperation and prosperity. To do so requires the courts to meet the needs of the business community, said Lord John Thomas of Cwmgiedd, the Lord Chief Justice of England and Wales in a guest lecture at the Grand Court of the Cayman Islands.
The elimination of tax evasion is a laudable objective. Governments miss out on revenue if assets are moved to other jurisdictions to evade taxes, and the impact is greater in poorer countries.
The Cayman Islands Court of Appeal has recently confirmed that the proprietors of a strata corporation registered under the Strata Titles Registration Law (STRL) have the power to govern, control and manage the strata through by-laws adopted in accordance with the STRL.
The proposed amendments to the Trusts Law (2011 Revision) and the Property (Miscellaneous Provisions) Law (2011 Revision) are part of a tidying up exercise to correct long-standing deficiencies in both statutes.
The Confidential Information Disclosure Law, 2016 was gazetted on July 22 and is in effect. The law has been under consultation in the Cayman Islands for a number of years and has been enacted to dispel the misconception that the Cayman Islands is a secrecy jurisdiction.
Many people confuse tax residence and domicile. In particular, it is common for individuals to assume that because they have ceased to be tax resident in the U.K., it must follow that they have also ceased to be U.K. domiciled. But is this necessarily the case? In short, the answer is definitely no.
Several developers, including Chamber of Commerce President Paul Pearson, say a change in the law to regulate how and when they hand over control of strata developments to owners is unnecessary and would hamper their ability to build and sell.
New copyright legislation came into effect June 30, replacing legislation from 1956, with the copyright protections coming from the United Kingdom’s 1988 Copyright Act, which has been updated several times to keep up with digital innovations over the past 28 years.
The Companies Law was recently amended by The Companies (Amendment) Law, 2016 (the “Amended Law”), published in the Cayman Islands gazette on May 13.
It’s common knowledge that most modern Western governments can be exceedingly slow when it comes to implementing new legislation. This is particularly true in the Cayman Islands, and especially as of late.
A Panamanian company set up by Canover Watson that was allegedly used to receive a $1.1 million bribe payment from Traffic Sports to Jeffrey Webb is the same entity that had a controversial $600,000 loan agreement with the Cayman Islands Football Association, documents reveal.
Documents submitted by the U.S. Securities and Exchange Commission to a U.S. court in February have shed new light on the involvement of Caledonian executives and clients in trading securities used in four penny stock manipulation fraud schemes.
Kevin Mitnick, who once was on the FBI’s Most Wanted list and is now a computer security consultant, took to the stage at the Cayman Alternative Investment Summit to show off some of the newest ways hackers are breaking into computer systems.
Beneficial owners are distinct from legal owners. For example, service providers that act as nominee directors, who may appear on legal documents as the representatives of the company.
The headline writes itself for corporate law as it heads out of 2015 and into 2016: Costs and competition abound, with the former sparking concerns and the latter innovation.
Interest rate policy only becomes critical if the rates are raised more quickly than previously planned.
Recognizing that Millennials are far from homogenous, it is still possible to draw some broad-based conclusions about the behaviors and attitudes that make this generation decidedly different.
Private pensions had mixed returns over the past year, with conservative plans performing worse than more aggressive investments.
The U.K. Public Accounts Committee has criticized the lack of enforcement and prosecutions of offshore tax evasion by HM Revenue and Customs in a performance report.
Combining reasonable relative valuation and existing stock price momentum is more effective.