News & Analysis as of

Board of Directors Cayman Islands

Conyers

Cayman Islands Restructuring: Obtaining Consent in a Crisis

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Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable. We are often engaged to assist creditors,...more

Conyers

Directors’ Duties – Two Stage Test for the Creditor Duty

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We have published a series of articles dealing with directors’ duties in the zone of insolvency. In previous briefings, we have written about the high-profile UK Supreme Court ruling in Sequana and the New Zealand Supreme...more

Conyers

Registering Private Funds with CIMA

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All Cayman entities that fall within the definition of “private fund” in the Private Funds Act (2021 Revision) are required to register with the Cayman Islands Monetary Authority (CIMA)....more

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CIMAでのプライベートファンド登録

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プライベートファンド法(2021年改正)に於ける「プライベートファンド」で定義されるケイマン諸島の全事業体は、ケイマン諸島金融管理局(CIMA)への登録が義務付けられています。...more

Conyers

A Clever Shortcut? Thoughts on the China Properties Group Case

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In the case of Re China Properties Group Limited (in Liquidation) [2023] HKCFI 2346, the Hong Kong Court has shown its commitment to providing assistance to local liquidators appointed by it by asserting in personam...more

Conyers

An Overview of Cayman Islands Private Trust Companies

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Many high-net-worth individuals and families use a private trust company (PTC) when looking to structure their family wealth. Given that settlors of trusts are sometimes reluctant to relinquish control over the assets...more

Conyers

Shares in BVI Business Companies – Avoiding a Succession Problem

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British Virgin Islands (“BVI”) business companies are often used for private wealth structuring purposes. However, where the shares in a BVI business company are registered in the name of an individual rather than a corporate...more

Walkers

CIMA guidance on business as usual operations – update 2023

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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, the fund’s memorandum and articles of...more

Walkers

Relations with the Cayman Islands Monetary Authority and investors – update 2023

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Directors of Cayman Islands hedge funds must conduct a fund’s affairs in a transparent and honest manner, always disclosing to the Cayman Islands Monetary Authority's ("CIMA") any substantive issues which could materially...more

Walkers

CIMA’s rules and statements of guidance – update 2023

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The vast majority of Cayman Islands hedge funds, i.e. open-ended vehicles that pool capital and hold multiple investments, are regulated by the Cayman Islands Monetary Authority ("CIMA") under the Mutual Funds Act (the...more

Walkers

Cayman fund governance in times of market turbulence – 2023 update

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While standard governance principles continue to apply (and should be followed) throughout the lifetime of a fund, the board of directors must be prepared to adapt governance practices and, for example, revisit discussions...more

Conyers

Make No Mistake: Examining the Hastings-Bass Rule on Fiduciaries’ Mistakes Under Cayman Islands Law

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The Cayman Islands reformed its trust laws to provide a statutory mechanism by which flawed decisions of trustees and other fiduciaries can be set aside on application to the court. The codification of the Hastings‑Bass rule...more

Conyers

Cayman schemes – where are we now?

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Following the implementation of the recent amendments to the Companies Act to remove the head count test for shareholder schemes of arrangement, Conyers has assisted two Hong Kong listed companies (China Vast Industrial Urban...more

Conyers

The Boundaries, and Benefits, of ‘Gross Negligence’ Under Cayman Islands Law

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For many years, it has been standard industry practice in the Cayman Islands, as in similar jurisdictions, for company directors, corporate service providers, and professional service providers, to apportion risk between...more

Conyers

Adventures in Wonderland

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Once upon a time, long, long ago, the Queen of Hearts would proclaim in a fanciful way: “Off with their heads!” at the slightest sign of difficulty with her subjects in Wonderland. Over one-and-a-half centuries after...more

Conyers

Cayman Islands Restructuring: Recent Common Law Insights for Directors when Entering the Zone of Insolvency

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Conyers partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative...more

Conyers

SPAC Litigation: What Happens if the “Blank Check” Bounces?

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The demand for Special Purpose Acquisition Company (SPAC) formations in the Cayman Islands increased through the first quarter of 2021 following robust performance in 2020. Whilst the second quarter of 2021 has seen a...more

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