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The Cayman Islands Monetary Authority ('CIMA') has issued Notices under Regulation 53A of the Anti-Money Laundering (Amendment) Regulations

This advisory provides a summary of the key points only and we would be happy to advise in further detail if required.

Restructuring of insolvent companies in the Cayman Islands is implemented by a flexible regime comprising the appointment of provisional liquidators coupled with an adjournment of the winding-up petition.

In late 2023, in the case of Holt Fund SPC, the Grand Court ordered the first appointment of Restructuring Officers over particular segregated portfolios of a segregated portfolio company (SPC).

The old saying that "Independent Directors are like parsley on a fish: technically they are there, but they are largely decorative" is now very much defunct in the context of the Cayman...

The Grand Court of the Cayman Islands (Court) has confirmed that the Court has the jurisdiction to grant declaratory relief within winding-up proceedings (In the Matter of Polarcus Limited (In Official Liquidation)...

In the recent decision of the Grand Court of the Cayman Islands In the matter of Global-IP Cayman (unreported, 21 July 2020)

The Grand Court of the Cayman Islands has again emphasised the central role that experts play in section 238 proceedings and that it is integral to the process

Conyers Trust Company (Cayman) Limited offers a full suite of directorship, administration, regulatory compliance and liquidation services to a diverse portfolio of global financial institutions...

The MLRO may be the same person as the AMLCO, so long as the individual is competent and is able to perform both roles efficiently.

London Counsel Barnabas Finnigan provides insight into the importance of ESG and sustainability for the new generation of yacht owners in the below edition of Superyacht International's Next Big Thing series.

It has become an established industry norm to see independent directors appointed to the boards of offshore hedge funds.

The Limited Liability Companies Bill, 2015 (LLC Bill) was approved by the Legislative Assembly of the Cayman Islands on 6 May 2016.

Created under the Trade and Business Licensing Law (TBL), DCI's trade officers have the same powers as police constables.

Since the decision of Judge Drain of the U.S. Bankruptcy Court for the Southern District of New York in the case of In re SPhinX Ltd., et al, Chapter 15, Case No. 06-11760 ("SPhinX") in mid-2006, there has been justifiable cause for concern amongst Cayman Islands-based insolvency practitioners with respect to the recognition of Cayman liquidations in the U.S.

We are living in challenging times, arguably far more challenging than in 2008 given the supply and the demand side issues all businesses are facing...

While there is no ‘one size fits all' solution as to how boards of directors should regulate their business and conduct their meetings, directors must pay regard to applicable law...