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As outlined in our recent briefing, the Cayman Islands economic substance regime (ES Regime) has recently been expanded, so as to now bring into scope Cayman Islands partnerships.

The Cayman Islands has been named ‘Best Private Equity Fund Domicile' at the 2020 Private Equity Wire US Awards.

We are delighted to present our December 2021 edition of The CLOser.

In this Regulatory 15/15 podcast, Partners Chris Capewell and Patrick Head and Associates Jo Ottaway and Ellen O'Brien from our Regulatory & Financial Services Advisory team discuss the following Cayman Islands topics...

Side letters allow for the private equity fund to provide key investors with special contractual rights or privileges.

The Cayman Islands remains one of the world’s leading jurisdictions for investment funds and asset managers, offering a combination of regulatory stability, cost efficiency and global reach.

The on-going industry consultation with the Cayman Islands Monetary Authority (CIMA) has resulted in further clarification in respect of the Anti-Money Laundering Regulations (2018 Revision) (AML Regulations) and the Guidance Notes issued in December 2017.

Later this year, amendments to Part V of the Cayman Islands Companies Act (the "Companies Act") will be introduced to commence a new restructuring officer regime available...

In recent years the Cayman Islands courts have become increasingly sympathetic to the needs of debtor companies looking to implement a viable restructuring plan.

This is helpful judicial confirmation that the moratorium on unsecured creditor action automatically arises upon the filing of a petition seeking the appointment of restructuring officers.

The Privy Council decision is the most recent in the ongoing liquidation proceedings of Herald Fund SPC.

The Cayman Islands Monetary Authority's thematic review of reinsurance companies revealed that corporate governance weaknesses accounted for 68% of all identified deficiencies, with board oversight failures, sub-committee governance gaps, and inadequate segregation of duties emerging as critical areas of concern. What specific governance fundamentals must boards and management teams address to meet regulatory expectations and industry standards?

The Gambling (Amendment) Law 2015, which came into effect on 1 January 2016, amends The Gambling Law (1996 Revision) to allow for gambling on cruise ships and exclude raffles being staged by non-profit organisations (NPOs).

Applications will no longer be accepted either by mail, or by persons dropping them off at the counter and leaving immediately thereafter, because of the volume of incomplete applications that were received in this manner.

We're bringing you bite size insights and a fresh point of view on current legal trends and forces shaping the market for those doing business with the Cayman Islands. Read our latest post below.

A general partner (GP) of a Cayman Islands exempted limited partnership (ELP) has a statutory duty to act in good faith and, until recently, an absolute duty to act in the interests of the ELP.