Saturday, March 23, 2019

Strata titles law reform a hot topic

Experts discuss recent changes to and sweeping prosals for strata titles law.

Cayman glassware distributor goes global

For 15 years Cayman’s hospitality industry has benefited from a quality product that is economical to use and helps ensure their clientele get the most from their glass of wine. The company has expanded into the notoriously tough US market and is already showing signs of a good degree of success.

 

Elements of a derivative action

Following the initial panic redemptions, insolvencies and restructuring, investment funds which have survived the ravages of the 2008 financial crisis have entered a new and distinctive phase. Regulators and investors now have a better understanding of the complex investment strategies pursued by some of the fund managers and are seeking to hold accountable those who have caused the pain visited upon investors. One strategy being adopted by investors, especially in the United States, is to file derivative shareholder actions against the funds’ directors and service providers.

Chinese investment strategy targets the Caribbean, US

When a Chinese delegation from Jiangsu province’s Department of Commerce came to Cayman last month to explore investment opportunities, the visit highlighted a role for which Cayman is less well known:

Petroleum products

After more than a half-century in the Cayman Islands, the last vestiges of the Texaco brand will disappear early this month, replaced by the Rubis brand. Rubis Cayman Country Representative Greg Campeau told The Journal what the rebranding would mean to customers in Cayman. 

 

 

Formation and composition of liquidation committees

Cayman Islands insolvency practitioners received some welcome guidance and clarification recently regarding the Grand Court’s power to make directions relating to the formation and composition of liquidation committees following last year’s amendments to the Companies Winding Up Rules 2008.

A conversation with…Matthew Wight

Local businessman Matthew Wight talks about his numerous enterprises and how he got involved in them at an early age.

Marijuana hedge funds: An emerging conundrum for regulators?

Will the launching of new marijuana hedge funds seeking to profit from legal cannabis sales in the Canada and the U.S. constitute money laundering by the Financial Action Task Force and federally defined illegal drug acts?

Diamond exchange idea floated

Global diamond jewelry demand grew 2.9 percent to $81.4 billion in 2014, according to diamond miner De Beers. If longtime Cayman jewelry maker Dennis Smith’s plans come to fruition, Cayman could well take a share of that market.

Beneficial ownership FAQ

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.

Attracting foreign direct investment

Bringing new investments to the Cayman Islands is about more than just offering a tax neutral environment. The Journal spoke with foreign direct investment consultant Douglas van den Berghe about Cayman’s ability to attract new business activity.

Tax issues for UK expats

HMRC are slowly increasing the U.K. tax net to catch expats.

New law brings Cayman copyright into the digital age

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.

Strata litigation: Avoiding personal liability

More than 500 stratas operate in the Cayman Islands.  Each strata is managed through an elected Executive Committee whose members are usually between three...

New immigration figures reveal plethora of surprises

Some myth-busting figures about immigration in the Cayman Islands are released under the Freedom of Information Law.

Cayman fund companies gain merger flexibility

Until recently, a Cayman fund company could only combine with another fund company by way of “arrangement”, which required the parties involved to petition...

EU fund manager directive raises new concerns

AIMA chairman Todd Groom expressed concerns over the EU Commission’s draft regulation that is going to implement the Alternative Investment Fund Managers Directive at a luncheon hosted by the Cayman chapter of the Alternative Investment Management Association in April.

Cayman positioned to take advantage of emerging market growth

International financial centre law firms are positioning themselves to take advantage of new emerging markets in Asia and South America. The Journal spoke with Diarmad Murray, global managing partner at Walkers about the effect this has on the firm’s business in the Cayman Islands.

Trust and estate planners going east and south

As wealth is generated faster in non-traditional regions these days, the trusts world and its service providers have to change, a raft of speakers at the STEP Caribbean conference noted.

Real estate recovery slowly gains momentum

While “more of the same” does not ordinarily send shivers up the spine, this time it may be worth some enthusiasm as the experts peer into the near-term future for local real estate.
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