Latest updates

Guide to restructuring and corporate recovery
Ogier
  • Insolvency & Restructuring
  • Cayman Islands
  • 30 October 2020

This article answers FAQs on restructuring and corporate recovery options available in the Cayman Islands, with respect to domestic procedures, cross-border procedures, creditors, avoidance transactions, contributions to liquidation estates and officer liability.

Financial Services (Disclosure and Provision of Information) (Jersey) Law 202-
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 29 October 2020

This article looks at the government's introduction of new legislation in relation to beneficial ownership and controlling interests requirements. This new legislation, the Financial Services (Disclosure and Provision of Information) (Jersey) Law 202-, aims to implement in Jersey the requirements set out by the Financial Action Task Force, the intergovernmental body that sets standards for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

Guernsey ticks right boxes to attract increasing private equity investment from United States
Ogier
  • Private Client & Offshore Services
  • Guernsey
  • 29 October 2020

Guernsey ticks all the right boxes when it comes to private equity – both private and listed. Importantly, Guernsey's private equity regime is simple and established, with sensible proportionate regulation which recognises the sophistication of managers and their investors. Guernsey is the ideal gateway to the United Kingdom and the European Union for US managers who continue to make use of private placement regimes in all of the key markets.

Guide to restructuring and corporate recovery
Ogier
  • Private Client & Offshore Services
  • Cayman Islands
  • 29 October 2020

This article answers FAQs on restructuring and corporate recovery options available in the Cayman Islands, with respect to domestic procedures, cross-border procedures, creditors, avoidance transactions, contributions to liquidation estates and officer liability.

Royal Court demonstrates its ability to assist in administration of foreign trusts
Ogier
  • Litigation
  • Jersey
  • 27 October 2020

In a recent decision, the Royal Court considered – for the first time – whether it can exercise a foreign statutory power on the application of a trustee of a foreign trust. The court concluded that it can do so as a matter of principle and went on to exercise an English statutory power so as to permit the trustees of a trust governed by English law to self-deal. The judgment is a welcome one for trustees in two particular respects.

Guernsey companies – an overview
Ogier
  • Corporate & Commercial
  • Guernsey
  • 26 October 2020

The benefits of using a Guernsey company are extremely wide but generally include separate legal identity, limited liability for shareholders and ease of transfer of ownership. These features, coupled with a tax-neutral environment in Guernsey for most companies, enable Guernsey companies to be structured to meet a wide variety of business purposes – from commercial trading and joint ventures to investment holding vehicles.

Snapshot: bringing claims against Cayman entities subject to insolvency processes
Ogier
  • Insolvency & Restructuring
  • Cayman Islands
  • 23 October 2020

To ensure the orderly and collective resolution of a company's affairs, the Companies Law imposes a moratorium on commencing or proceeding with any suit, action or other proceedings against the company once liquidators are appointed by the court (including on a provisional basis). Once these officeholders are appointed, proceedings can be commenced or proceeded with against the company in question only with the leave of the Grand Court, subject to such terms as the court may impose.

Royal Court demonstrates its ability to assist in administration of foreign trusts
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 22 October 2020

In a recent decision, the Royal Court considered – for the first time – whether it can exercise a foreign statutory power on the application of a trustee of a foreign trust. The court concluded that it can do so as a matter of principle and went on to exercise an English statutory power so as to permit the trustees of a trust governed by English law to self-deal. The judgment is a welcome one for trustees in two particular respects.

Guernsey companies – an overview
Ogier
  • Private Client & Offshore Services
  • Guernsey
  • 22 October 2020

The benefits of using a Guernsey company are extremely wide but generally include separate legal identity, limited liability for shareholders and ease of transfer of ownership. These features, coupled with a tax-neutral environment in Guernsey for most companies, enable Guernsey companies to be structured to meet a wide variety of business purposes – from commercial trading and joint ventures to investment holding vehicles.

Snapshot: bringing claims against Cayman entities subject to insolvency processes
Ogier
  • Private Client & Offshore Services
  • Cayman Islands
  • 22 October 2020

To ensure the orderly and collective resolution of a company's affairs, the Companies Law imposes a moratorium on commencing or proceeding with any suit, action or other proceedings against the company once liquidators are appointed by the court (including on a provisional basis). Once these officeholders are appointed, proceedings can be commenced or proceeded with against the company in question only with the leave of the Grand Court, subject to such terms as the court may impose.

Q&A: earning residency through business investment
Ogier
  • Employment & Immigration
  • Cayman Islands
  • 21 October 2020

The Cayman Islands has two residency by business investment programmes: the Certificate of Direct Investment and the Residency Certificate (Substantial Business Presence). This Q&A provides insight into each programme, including whether applicants can eventually apply for a Cayman passport, how many applicants typically apply for residency and the associated costs.

Snapshot: recognition and enforcement of foreign judgments
Ogier
  • Litigation
  • Guernsey
  • 20 October 2020

There are two routes for the enforcement of foreign judgments in Guernsey. The statutory method is available only for judgments from certain jurisdictions which can be registered in Guernsey following a specified statutory process. For all other countries, a judgment creditor must rely on common law principles to have a judgment recognised and thereafter enforced in Guernsey.

Open dialogue needed to avoid COVID-19 construction disputes
Ogier
  • Projects, Construction & Infrastructure
  • Jersey
  • 19 October 2020

The potential for disputes in construction projects has risen sharply with the performance and enforcement of contracts directly affected by COVID-19. An open and frank dialogue early on between the parties steered as a form of informal mediation or collaboration can quickly put an end to frustrations and disputes and lead the way for a successful, more cost-effective solution to any dispute that may arise.

Court of Appeal enforces foreign arbitral award in favour of Brazilian airline
Ogier
  • Arbitration & ADR
  • Cayman Islands
  • 15 October 2020

The Court of Appeal has overturned an earlier decision of the Grand Court, thereby allowing the enforcement of an International Chamber of Commerce arbitral award issued in favour of a Brazilian airline. The decision raises important and difficult issues relating to the enforcement of foreign arbitral awards which are the subject of robust challenge before the courts of supervisory jurisdiction.

Snapshot: recognition and enforcement of foreign judgments
Ogier
  • Private Client & Offshore Services
  • Guernsey
  • 15 October 2020

There are two routes for the enforcement of foreign judgments in Guernsey. The statutory method is available only for judgments from certain jurisdictions which can be registered in Guernsey following a specified statutory process. For all other countries, a judgment creditor must rely on common law principles to have a judgment recognised and thereafter enforced in Guernsey.

Q&A: earning residency through business investment
Ogier
  • Private Client & Offshore Services
  • Cayman Islands
  • 15 October 2020

The Cayman Islands has two residency by business investment programmes: the Certificate of Direct Investment and the Residency Certificate (Substantial Business Presence). This Q&A provides insight into each programme, including whether applicants can eventually apply for a Cayman passport, how many applicants typically apply for residency and the associated costs.

Open dialogue needed to avoid COVID-19 construction disputes
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 15 October 2020

The potential for disputes in construction projects has risen sharply with the performance and enforcement of contracts directly affected by COVID-19. An open and frank dialogue early on between the parties steered as a form of informal mediation or collaboration can quickly put an end to frustrations and disputes and lead the way for a successful, more cost-effective solution to any dispute that may arise.

Court of Appeal enforces foreign arbitral award in favour of Brazilian airline
Ogier
  • Litigation
  • Cayman Islands
  • 13 October 2020

The Court of Appeal has overturned an earlier decision of the Grand Court, thereby allowing the enforcement of an International Chamber of Commerce arbitral award issued in favour of a Brazilian airline. The decision raises important and difficult issues relating to the enforcement of foreign arbitral awards which are the subject of robust challenge before the courts of supervisory jurisdiction.

Guernsey works for hedge funds
Ogier
  • Banking & Financial Services
  • Guernsey
  • 13 October 2020

This article answers FAQs relating to Guernsey hedge funds. Topics covered include funds regulation, available structures, nexus requirements, the Guernsey Green Fund and registration and authorisation timeframes.

Guernsey works for hedge funds
Ogier
  • Private Client & Offshore Services
  • Guernsey
  • 08 October 2020

This article answers FAQs relating to Guernsey hedge funds. Topics covered include funds regulation, available structures, nexus requirements, the Guernsey Green Fund and registration and authorisation timeframes.