ArticlePenalty Clauses – The New RulesOn 4 November 2015 the UK Supreme Court handed down its decision in the case of Cavendish Square Holdings BV v Makdessi [2015] UKSC 67.Cayman IslandsCorporate/Commercial LawHarneys
ArticleDigital Services Act: Safeguarding Online Interactions In The EUOn 17 February 2024, the Digital Services Act (DSA) came into effect, applying to all online intermediaries operating within the EU.European UnionPrivacyHarneys
ArticleBermuda Insolvency Law In 60 SecondsInsolvency law in Bermuda is principally regulated by the Companies Act 1981 and the Companies (Winding-Up) Rules 1982, supplemented by a wide body of case law.BermudaInsolvency/Bankruptcy/Re-StructuringHarneys
ArticleA Split Victory: Costs Ruling In Afiniti, Ltd. v ChishtiIn a recent decision of the Bermuda Court of Appeal, the judgment in Afiniti, Ltd. v Chishti offered a nuanced costs ruling following an appeal with mixed outcomes.BermudaLitigation, Mediation & ArbitrationHarneys
ArticleClass Rights In BVI Company LawBVI company law has two overarching characteristics. Firstly, it maximises flexibility to ensure that international users of offshore vehicles can structure their companies in a way that suits their needs.British Virgin IslandsCorporate/Commercial LawHarneys
ArticleRestoration And Bearer Shares In The BVIRestoring a company to good standing is one avenue by which a creditor may pursue an asset thought to have vanished.British Virgin IslandsCorporate/Commercial LawHarneys
ArticleBVI High Court Confirms That Exercise Of Discretion To Wind Up A Company Not Dependent On "A Head Counting Exercise"Whilst the wishes of the majority of creditors (whether in number or by value) is an important factor in many decisions made within insolvency processes...British Virgin IslandsInsolvency/Bankruptcy/Re-StructuringHarneys
ArticlePotential Changes To Creditors' Rights In The BVI – Administration OrdersThe British Virgin Islands (BVI) is once again considering proposals to bring into force provisions which permit the making of administration orders in relation to BVI companies.British Virgin IslandsInsolvency/Bankruptcy/Re-StructuringHarneys
ArticleInterview With Natalie Lee, Counsel In Hong KongWe recently had a chat with Natalie Lee, our newly promoted Counsel, during which she talked about her career in law, her journey with Harneys and more.British Virgin IslandsLaw Department PerformanceHarneys
ArticleMultiple Derivative Actions In The BVI: Tried But Not Tested?On 8 August 2013, the Court of Appeal issued its ruling in the case of Microsoft Corporation v Vadem LtdBritish Virgin IslandsWealth ManagementHarneys
ArticleCayman Legislative Changes Demonstrate Island's Ongoing Commitment To Global TransparencyTo assist global efforts to tackle tax evasion and corruption and to increase transparency, the Cayman Islands government has amended its companies law and has proposed a fundamental overhaul of its confidentiality laws.Cayman IslandsCorporate/Commercial LawHarneys
ArticleThe Contracts (Rights Of Third Parties) Law 2014The Contracts (Rights of Third Parties) Law 2014 came into force on 21 May 2014.Cayman IslandsCorporate/Commercial LawHarneys
ArticleShariah Compliant Funds In CaymanWealth in the Islamic world is accumulating, and investors are seeking competitive off shore locations in which to park their wealth and structure their vehicles. Cayman IslandsFinance and BankingHarneys
ArticleThe Impact Of Side Letters On The Constitutional Provisions Of Cayman Islands FundsIn Re Lancelot Investors Fund, KBC Investments Ltd v Varga the Cayman Islands Court of Appeal has delivered its judgment on an appeal from the Grand Court concerning the impact of side letters on the constitutional arrangements of Cayman funds. Cayman IslandsFinance and BankingHarneys
ArticleNew AML Regulations Come Into ForceThe Cayman Islands government recently adopted updated Anti-Money Laundering Regulations (the AML Regulations) which came into force on 2 October 2017.Cayman IslandsGovernment, Public SectorHarneys
ArticleFATCA In Cayman: Deadline ApproachesThe deadline for compliance with both US FATCA and UK FATCA fast approaches. Cayman IslandsTaxHarneys
ArticleThe EU Succession Regulation: Spotlight On CyprusIn a Union where persons and capital are increasingly mobile and free movement forms a basic right, succession laws of the various Member States have not done a good job of keeping apace. CyprusFamily and MatrimonialHarneys
ArticleImminent Amendments To Cyprus Companies Law For The Implementation Of The EU Mobility DirectiveThe Bill is currently before the Parliamentary Committee of Energy, Commerce and Industry for discussion before the final Bill may be presented in Parliament for voting.European UnionCorporate/Commercial LawHarneys
ArticleRussia Sanctions And The Use Of EU-Based Holding Companies And SPVs This Article examines in summary whether EU-based subsidiaries of the sanctioned Russian state-owned entities listed in Council Regulation (EU) 833/2014 (Regulation 833)European UnionFinance and BankingHarneys