The Legal 500

Legal Developments in Cayman Islands

• In specie distributions – further guidance from the Cayman Islands Court of Appeal

  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.
  - Mourant Ozannes

• AB Jnr & Another v MB & Others (Unreported, 18 December 2012)

  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.
  - Ogier

• Master Fund Registration Update

  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.
  - Mourant Ozannes

• The Cayman Registered Land Law and unregistered debentures

  Following the hearing of a preliminary issue in the case of Cesar Hotelco (Cayman) Ltd and others -v- Michael Ryan and others [2012] (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.
  - Mourant Ozannes

• Probate and Estate Administration: the Practicalities of Dealing with Cayman Assets After Death...

  (Non-Cayman Domiciliaries)  
  - Ogier

• Succession & Estate Administration in the Cayman Islands (Non-Domiciled Individuals)

  INTRODUCTION
  - Ogier

• Aircraft Registration

  Introduction
  - Ogier

• Private Trust Companies

  Introduction
  - Ogier

• Revisions to Cayman Islands Mutual Funds Law Requiring Registration of Master Funds

  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.
  - Ogier

• Deciding Between Wills and Trusts for Non-Cayman Domiciliaries

  Introduction
  - Ogier