Daily Compliance News: April 7, 2025, The Whistleblowers Awarded Edition
In PI 1 and PI 2 v MR, the Hong Kong Court of First Instance (“Court”) dismissed the plaintiffs’ application to set aside an arbitral tribunal’s decision that it did have jurisdiction to hear a dispute. It is noteworthy that...more
A prenuptial agreement is a contract entered into by prospective spouses before marriage, outlining how their assets, debts, and other financial matters will be handled in the event of divorce. A postnuptial agreement is a...more
The Grand Court of the Cayman Islands (“Cayman Court”) can grant a freezing injunction: • in connection with underlying proceedings brought in the Cayman Islands (whether issued or contemplated); or - • in relation to...more
This guide explores the latest legislative, regulatory and enforcement developments in the Cayman Islands and provides expert analysis on industry-wide topics including the local legal framework, the main stages of a fraud...more
For the purposes of determining the incidence of costs under Buckton, the fact that the relief sought is strenuously opposed by a party and comments are traded that some might perceive as "hostile" does not mean that a...more
The Grand Court has clarified that, where a company in official liquidation commences proceedings claiming that it holds certain rights, in order for the defendant to proceed with a counterclaim asserting that it is the true...more
Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more
Jurisdiction clauses in trust deeds are critical in determining the forum for resolving disputes. These clauses can be either exclusive, conferring jurisdiction to a specific court, or non-exclusive, allowing for flexibility...more
A warm welcome to this 12th edition of Conyers Coverage to kick off 2025. Now that the dust has settled, our team is reflecting on another exceptional year for the Cayman Islands (re)insurance industry in 2024. We lawyers may...more
As we gear up for the final quarter of 2024, this is an excellent time to review Cayman based entities with a financial year end of 31 December 2024 and consider the position of these entities with respect to the Cayman...more
The Cayman Islands is the most common non-US jurisdiction for listed entities - Entities established in 47 different jurisdictions are currently listed on the NYSE and Nasdaq. Of these different jurisdictions, outside of...more
Cayman Islands foundation companies ("FCs") remain the premier vehicle of choice for "wrapping" a Decentralised Autonomous Organisation ("DAO"). The FC structure balances the flexibility required for DAO operations with the...more
Legal processes involving foreign entities in the Cayman Islands are governed by the civil procedure rules of the jurisdiction where the claim was filed. We strongly recommend that clients familiarize themselves with the...more
The circumstances in which an unsuccessful party in arbitration may resist enforcement of an award in the Cayman Islands are limited in number and narrow in scope. The judiciary are alive to the risk that parties may run...more
Over the last few months, we have started to see new trends in inquiries and instructions regarding the use of Jersey and Guernsey structures by US managers targeting either European assets, or European capital....more
The first dedicated reinsurance conference in the Cayman Islands was by every conceivable metric an incredible success. Hosted by CIRCA, close to 450 reinsurance professionals gathered at [Re]Connect to network and hear...more
On 28 March 2024 the Cayman Islands Court of Appeal dismissed an appeal by Minsheng Vocational Education Company Limited against an injunction enjoining Minsheng from purporting to enforce certain share charges. This is...more
The Grand Court of the Cayman Islands recently confirmed expressly for the first time that it has jurisdiction to wind up a segregated portfolio company ("SPC") on the insolvency of one or more, but not all, of its segregated...more
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more
Following the removal of the Cayman Islands from the Financial Action Task Force's list of "jurisdictions under increased monitoring" in October 2023, on 12 December 2023, the European Commission adopted the Commission...more
Following the removal of the Cayman Islands from the FATF list of jurisdictions under increased monitoring, the Cayman Islands is to also be removed from the European Union list of jurisdictions with strategic deficiencies in...more
On 20 November 2023, the Grand Court of the Cayman Islands (the "Grand Court") issued its ruling on a preliminary issue in In the matter of Re BPGIC Holdings Limited; namely whether a winding up petition should be stayed or...more
Since the introduction of the Insurance Act in 1979, the Cayman Islands has established itself as one of the largest, and most sophisticated, centres for international insurance business. As of the first quarter of 2023, the...more
Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 27 October 2023, the FATF has announced that the Cayman Islands has been removed from the FATF's list of "jurisdictions under...more
Whilst traditionally the Cayman Islands has deservedly been recognised as a leading captive jurisdiction, around 70% of all licences issued by the Cayman Islands Monetary Authority (“CIMA”) in recent years have been for...more