Harney Westwood & Riegels

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Attorney	Latest Publications
Pavlos Aristodemou	Cyprus continues to relax restrictive measures Restrictive Measures - Transactions: The latest relaxations pertaining to transactions were passed on 17 May 2013 in Decree No 12 under the Enforcement of Restrictive Measures on Transactions in case of Emergency Law of…more Cyprus Bailout, Foreign Banks	See All Updates »
Jacqueline Daley Aspinall	BVI introduces comprehensive revamp of trade mark laws For the first time in several decades there will be a comprehensive revamp of the trade mark laws of the British Virgin Islands. The Trade Marks Act (Cap.158) of the Laws of the Virgin Islands (Existing Act) and the Registration…more Infringement, License Agreements, Registration, Trade Marks Act, Trademarks	See All Updates »
Leonard Birmingham	The Mergers & Acquisitions Review - Sixth Edition: Chapter 13: British Virgin Islands I OVERVIEW OF M&A ACTIVITY - Given the international financial climate, it is perhaps unsurprising that the past 12 months have seen unpredictable deal flows involving British Virgin Islands (‘BVI’) companies, with spikes…more BVI Business Companies, Chapter 13, Enforcement, EU, International Arbitration	See All Updates »
Adrienne Chan	Recent judgment a reminder of Hong Kong Court’s limited jurisdiction over foreign companies We are reminded that shareholders of BVI holding companies may well have to look to the BVI Court to resolve unfair prejudice claims in seeking a buy-out order or other relief…more China, Foreign Corporations, Jurisdiction, Sufficient Nexus	See All Updates »
Patrick Colegrave	Staying Ahead Of The Game - Marco Martins And Patrick Colegrave, Of Harney Westwood & Riegels, Explain How Cayman Is Adapting To Change So As To Remain The Jurisdiction Of Choice For The Alternative Investment Industry 2013 is lining up to be a pivotal and successful year for both the Cayman Islands and the global hedge fund industry. Many of the developments which started in the last decade, ranging from worldwide regulatory and financial…more Alternative Investment Fund Managers Directive, Alternative Investment Funds, Corporate Governance, FATCA, Hedge Funds	See All Updates »
Aki Corsoni-Husain	AIFMD: Level 2 Regulation adopted by the European Commission Harneys continues to monitor developments related to the EU’s AIFMD with a focus on how it will affect our clients in the Cayman Islands and BVI. The most significant recent development is that the AIFMD Level 2 Regulation has…more AIFMD, EU, European Commission, Investment Adviser	See All Updates »
Jonathan Culshaw	BVI and Cayman to enter into FATCA Model 1 agreements with United States Both jurisdictions also pledge to sign up to “UK FATCA” - The US Foreign Account Tax Compliance Act, commonly referred to as FATCA, became effective earlier this year, and foreign financial institutions (“FFIs”) in every…more FATCA, Intergovernmental Agreements, IRS	See All Updates »
Nancy Erotocritou	Cyprus continues to relax restrictive measures Restrictive Measures - Transactions: The latest relaxations pertaining to transactions were passed on 17 May 2013 in Decree No 12 under the Enforcement of Restrictive Measures on Transactions in case of Emergency Law of…more Cyprus Bailout, Foreign Banks	See All Updates »
Philip Graham	Focus On British Virgin Islands Regulation Originally published on HFM WEEK.COM - 31 JAN - 6 FEB 2013. As a new ‘regulation light’ fund manager regime is launched in the British Virgin Islands, eligible fund managers can now count on a simpler application process…more Approved Managers, Fund Managers, Licenses, Private Equity, Venture Capital	See All Updates »
Louise Groom	Segregated Portfolio Companies Any Cayman Islands exempted company (the most common Cayman corporate vehicle limited by shares), including those to be established as funds, may be registered as a segregated portfolio company (an SPC). Registration as an SPC…more Directors, Fiduciary Duty, Liquidation, Receivership, Ring-Fencing	See All Updates »
Margarita Hadjitofi	Changes to BVI Trust Legislation – Fine-tuning the Law to Promote Flexibility The British Virgin Islands is a well respected and sophisticated jurisdiction for the establishment of trusts. The general principles of BVI trust law are derived from those of English law and they have been supplemented by…more BVI Business Companies, High Net-Worth, Private Trust Companies, Trustees, Trusts	See All Updates »
Simon Hudd	The Mergers & Acquisitions Review - Sixth Edition: Chapter 13: British Virgin Islands I OVERVIEW OF M&A ACTIVITY - Given the international financial climate, it is perhaps unsurprising that the past 12 months have seen unpredictable deal flows involving British Virgin Islands (‘BVI’) companies, with spikes…more BVI Business Companies, Chapter 13, Enforcement, EU, International Arbitration	See All Updates »
Phillip Kite	Order Restored: Court hands down key judgment on BVI hedge fund insolvencies Introduction - The Court of Appeal of the Eastern Caribbean Supreme Court on Monday, 11 March handed down an important ruling on the question of where investors stand in the “waterfall” of distributions in the liquidation…more Hedge Funds, Investors, Liquidation, Offshore Funds	See All Updates »
Jonathan Law	Cayman Islands Roundup - January 2013 Following is a roundup of recent legislative and industry news from the Cayman Islands. CIMA commissions corporate governance survey - The Cayman Islands Monetary Authority (CIMA) announced on 14 January 2013 that it…more CIMA, Corporate Governance, Investment Funds, Listing Agents, Transparency	See All Updates »
Wendy Lee	The Mergers & Acquisitions Review - Sixth Edition: Chapter 16: Cayman Islands I OVERVIEW OF M&A ACTIVITY - According to a report of the Cayman Islands Economics and Statistics Office, the Islands’ economy began to recover from the economic downturn in 2011, with real gross domestic product growing…more Board of Directors, Competition, Economic Development, EU, Foreign Investment	See All Updates »
Henry Mander	New amendments keep BVI trusts at cutting edge The British Virgin Islands is a well respected and sophisticated jurisdiction for the establishment of trusts. The general principles of BVI trust law are derived from those of English law and they have been supplemented by…more	See All Updates »
Ian Mann	Offshore Litigation Tools for Local Disputes British Virgin Island (“BVI”) and Cayman Islands companies have been a popular choice of investment vehicle for Hong Kong and Chinese companies and individuals. This article explores the key tools available to members of BVI and…more BVI Business Companies, Corporate Governance, Cross-Border Transactions, Disclosure, Investment Opportunities	See All Updates »
Marco Martins	Cayman Islands commended by the OECD in latest peer review report The Organisation for Economic Co-operation and Development (“OECD”) recently published a report in which the Cayman Islands was commended for the “streamlined, efficient and responsive procedures it has is in place to facilitate…more Alternative Investment Funds, Intergovernmental Agreements, OECD, Peer Review	See All Updates »
Ross Munro	BVI and Cayman to enter into FATCA Model 1 agreements with United States Both jurisdictions also pledge to sign up to “UK FATCA” - The US Foreign Account Tax Compliance Act, commonly referred to as FATCA, became effective earlier this year, and foreign financial institutions (“FFIs”) in every…more FATCA, Intergovernmental Agreements, IRS	See All Updates »
Demetris Nicolaou	Banking secrecy in Cyprus: When can account information be divulged? Banking secrecy has been under scrutiny during the past few years, with Swiss and Luxembourg banks under pressure to relax banking secrecy rules. In Cyprus, the Banking Law (66(I)/97, as amended) contains several provisions…more Banking Secrecy, Data Protection, EU	See All Updates »
Lisa Pearce	Cayman Islands Roundup - January 2013 Following is a roundup of recent legislative and industry news from the Cayman Islands. CIMA commissions corporate governance survey - The Cayman Islands Monetary Authority (CIMA) announced on 14 January 2013 that it…more CIMA, Corporate Governance, Investment Funds, Listing Agents, Transparency	See All Updates »
Andrea Psara	Cyprus concludes second hydrocarbon licencing round In late 2011, Noble Energy International Ltd (“Noble”) announced the discovery of an average of 7 trillion cubic feet of natural gas in Block 12 of the Republic of Cyprus’ (“Cyprus”) Exclusive Economic Zone (“EEZ”), which opened…more EU, Exploration and Production Sharing Contract, Hydrocarbons, Licenses, Natural Gas	See All Updates »
Colin Riegels	UK property tax changes: “de-enveloping” or a use of a trust? It has long been popular for high net-worth people who are not domiciled in the United Kingdom (“non-doms”) to form an offshore company, often in the British Virgin Islands (“BVI”), for the purposes of holding property in the…more Domicile, Inheritanance Tax, Offshore Companies, Private Trust Companies, Property Tax	See All Updates »
Claire Robey	BVI Case Notes: Derivatives, double derivatives and unfair prejudice Harneys continues to provide a regular roundup of recent case notes from the British Virgin Islands Commercial Court. In this edition we report on recent court guidance on leave to bring derivative proceedings and double…more Alter Ego, Derivative Suit, Derivatives, Double Derivative Claims, Forum	See All Updates »
Sean Scott	Segregated Portfolio Companies Any Cayman Islands exempted company (the most common Cayman corporate vehicle limited by shares), including those to be established as funds, may be registered as a segregated portfolio company (an SPC). Registration as an SPC…more Directors, Fiduciary Duty, Liquidation, Receivership, Ring-Fencing	See All Updates »
Peter Tarn	BVI, Cayman in discussions with UK government The British Virgin Islands and the Cayman Islands are currently in dialog with the UK government on a number of issues related to the UK’s G8 economic agenda, including enhanced transparency and exchange of information for tax…more BVI Business Companies, EU	See All Updates »
Andrew Thorp	Order Restored: Court hands down key judgment on BVI hedge fund insolvencies Introduction - The Court of Appeal of the Eastern Caribbean Supreme Court on Monday, 11 March handed down an important ruling on the question of where investors stand in the “waterfall” of distributions in the liquidation…more Hedge Funds, Investors, Liquidation, Offshore Funds	See All Updates »
Kirill Vahonin	Cyprus concludes second hydrocarbon licencing round In late 2011, Noble Energy International Ltd (“Noble”) announced the discovery of an average of 7 trillion cubic feet of natural gas in Block 12 of the Republic of Cyprus’ (“Cyprus”) Exclusive Economic Zone (“EEZ”), which opened…more EU, Exploration and Production Sharing Contract, Hydrocarbons, Licenses, Natural Gas	See All Updates »
Emily Yiolitis	Cyprus continues to relax restrictive measures Restrictive Measures - Transactions: The latest relaxations pertaining to transactions were passed on 17 May 2013 in Decree No 12 under the Enforcement of Restrictive Measures on Transactions in case of Emergency Law of…more Cyprus Bailout, Foreign Banks	See All Updates »

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