- Legal market overview
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Legal market overview
The Cayman Islands legal market continues to see new entrants. In 2012, Huw Moses OBE, formerly managing partner of Appleby’s Cayman office, and Derek Jones, formerly regional managing partner of Higgs & Johnson, launched HSM Chambers.
Other significant news included Thorp Alberga remoulding as Travers Thorp Alberga after former Maples and Calder chief Anthony Travers joined the firm as senior partner. The practice also recruited Nicole Pineda, previously responsible for the management of Walkers’ Latin American finance practice.
Carey Olsen, which launched in Cayman in 2012, furthered its expansion by welcoming Michael Makridakis from Ogier as a new partner and head of litigation in its Cayman office. Appleby hired Ian Gobin from Walkers’ Jersey office, and senior associate Jonathan Bernstein joined the firm from Ogier; Richard Addlestone, Sherice Arman and Sabrina Leacock meanwhile left for Solomon Harris, Maples and Calder and Paget-Brown & Company respectively.
Ogier also saw departures, with Andrew Morehouse and counsel Colin Berryman both joining Harney Westwood & Riegels as partners in 2013. At Walkers, recent developments include Melissa Lim joining from Maples and Calder in 2012 as senior counsel and being promoted to partner in July 2013; and Rod Palmer and Diarmad Murray leaving the firm.
Search News and Articles
On 18 February 2013, the Cayman Islands Court of Appeal released its judgment in Re FIA Leveraged Fund. The judgment will be of significant interest to directors and managers of investment funds, as it provides helpful clarification as to what steps they will need to take to ensure that in specie distributions are effective and what their duties are when valuing assets to be used in these distributions. Read more ...
AB Jnr & Another v MB & Others was a significant decision of the Financial Services Division of the Grand Court of the Cayman Islands, relating to a Trust Deed, dated 21 November 1985. The weighty judgment of Hon. Anthony Smellie, CJ, at some 204 pages, follows an In Camera hearing taking place over the course of a 9 week period, between April and June 2012.
On 10 January 2013, the Mutual Funds (Amendment) Law 2012 came into effect requiring Cayman Islands master funds which have a single CIMA-regulated feeder to register with CIMA.
Following the hearing of a preliminary issue in the case of Cesar Hotelco (Cayman) Ltd and others -v- Michael Ryan and others  (unreported at present) the Cayman Islands Grand Court on 19 December 2012 handed down an important and welcome judgment clarifying the relationship between the Cayman Island Registered Land Law (2004 Revision) (the "RLL") and unregistered contractual debentures. This judgment is also important in relation to the issue of acquiescence in the appointment of receivers.
The Cayman Islands legislature recently approved the Mutual Funds (Amendments) Bill 2012 which seeks to amend certain definitions within the Mutual Funds Law in order to clarify the regime relating to registration of master funds.
Partners Group, a global private markets investment manager, and Capvis, a leading Swiss mid-size market PE fund, have agreed to jointly acquire VAT Holding, the global market leader in high-end vacuum valves. The transaction is subject to merger control approval.
On Wednesday, 20 November 2013, the Swiss Federal Council has announced the enactment of the Ordinance against excessive Compensation as per 1 January 2013.
Studio Legale Villata, Degli Esposti, Perfetti e Associati is pleased to announce the publication of the collection of legal articles " Scritti in onore di Paolo Stella Richter " (Papers in honour of Paolo Stella Richter) to which Professor Riccardo Villata contributed with an article on " Concessioni di pubblico servizio e appalti di servizi tra diritto interno e disciplina europea " (Concessions and Tenders of Public Services in Consideration of National and European Regulations).
The partners of FKA Furtek Komosa Aleksandrowicz are pleased to announce that on 1 December 2013 Jarosław Grzywiński, attorney-at-law, joined the firm as a partner.
Lidings Partner and Head of Banking and Finance practice Dmitry Gravin acts as an expert at the largest and the most significant event of the year brining together leading representatives of banking and finance industry in Russia - Russian Banking Forum that traditionally takes place at the UK capital city hosted by Adam Smith Institute.
Please follow the link below for GRATA November Newsletter.
On December 2, 2013, the Executive Board of ThyssenKrupp AG with the approval of the Executive Committee of the Supervisory Board resolved to increase the capital stock of ThyssenKrupp AG by a nominal € 131,709,191.68, corresponding to 10 per cent of the current capital stock, by issuing 51,448,903 new no par shares in the company and to exclude subscription rights.
E.ON SE (E.ON) is selling Ferngas Nordbayern GmbH (FGN), a wholly owned subsidiary of E.ON, to First State European Diversified Infrastructure Fund FCP-SIF (EDIF), the European infrastructure fund of First State Investments. The transaction is still subject to approval from the German Federal Cartel Office. Read More...
Grau & Angulo celebrated its 10 th Anniversary in November, organizing a legal debate at the emblematic Casa Batlló in Barcelona. The partners wish to thank all their clients who have supported them in this exciting ten year journey.
Prestigious international publication The Lawyer has shortlisted Pepeliaev Group in the Best Russian Law Firm category for The Lawyer European Awards 2014 (http://www.thelawyereuropeanevent.com/).