There is no bespoke legislation dealing with “pre-pack” restructuring or sale of the business or assets of an insolvent British Virgin Islands (BVI) company, and in practice, as primarily a holding company jurisdiction pre-packs are not in high demand in the BVI ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? There is no bespoke legislation dealing with “pre-pack” restructuring or sale of the business or assets of an insolvent Cayman Islands company ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? Guernsey stands out against many offshore jurisdictions because it has a dedicated administration regime designed to facilitate corporate rescue. The procedure is broadly similar to that in the United Kingdom, albeit it has been simplified and tweaked to suit Guernsey’s finance industry ...
It is practically impossible these days to turn on the news, get on the internet or listen to the radio without hearing about some polarizing event. Whether it is a debate over the presidential candidates, the #BlackLivesMatter movement, or the legality of North Carolina’s HB-2 (dubbed the “Bathroom Bill”) or other similar state law, the American populace is being bombarded from all sides ...
The Labour Appeal Court ("LAC") judgment in Liberty Group Limited v MM is a reminder to employers to be vigilant when dealing with allegations of sexual harassment in the workplace and to ensure that managers are equipped to deal with reports of sexual harassment. A failure to do so can be a costly mistake, as the employer in this decision learnt ...
On April 1, 2020—the effective date of the Families First Coronavirus Response Act (FFCRA)—the U.S. Department of Labor (DOL) issued temporary regulations to interpret and enforce the landmark legislation passed by Congress “to assist working families facing public health emergencies” arising out of the COVID-19 pandemic ...
Balance has been tipping over from creditors to shareholders and the pandemic is only bringing this deepening fault line to the fore. Covid-19 slammed into the global consciousness this March and, as expected, immediately torpedoed the markets. But despite the worsening economic data hogging news headlines, exacerbated by intensifying US-China tensions, the markets have paradoxically strengthened since ...
On August 23, 2023, the extracts from the minutes of the meeting of the Sub-commission of the Government Commission for Control over Foreign Investments in the Russian Federation No. 182/5 dated August 09, 2023, were published. (“Extracts No. 182/5”). The said Extracts No ...
In seeking to address the impact of climate change within Hong Kong’s fund management industry, the SFC has introduced new climate-related regulatory requirements for fund managers in relation to disclosures and to their investment risk and management processes. In this ten-minute podcast, Jeremy Lam outlines key features of the new regime, the timeframe for implementation and how best to plan ahead ...
Over the years, the Quebec courts have repeatedly stated that dismissed employees have a duty to mitigate the damages they suffer as a result of a dismissal. This obligation, which is now codified in the Civil Code of Québec,1 has been adapted to the circumstances of the cases over which the courts have presided. The question, then, is whether the COVID-19 pandemic is likely to have an impact on a dismissed employee?s obligation to mitigate damages ...
In July 2021, new private law cases received by Cafcass (the Children and Family Court Advisory Support Service) fell by over 16%. According to the latest figures published by Cafcass this week, they received a total of 3,774 new private law cases in July 2021, 740 cases (16.4%) fewer than in July 2020. Private law cases generally consist of applications made to the family court by a parent or carer of a child following a divorce or separation ...
Free movement of workers from the European Economic Area (EEA) was ended by Brexit and the UK Government introduced the EU Settlement Scheme to bridge the gap between the UK’s two immigrations systems of those coming from the EEA, and those coming to the UK from outwith the EEEA. The EU Settlement Scheme is a mechanism for any EEA citizen who lived in the UK before 31 December 2020 to remain lawfully in the UK ...
Economic torts provide relief in relation to intentional interference with economic interests. This collection of torts can be divided into two categories: deceptive market practices and improper market practices. This paper concerns itself exclusively with the latter, examining the torts of inducing breach of contract, unlawful interference with economic interests and civil conspiracy ...
Since 1965, the West Virginia Supreme Court of Appeals has consistently held that defective workmanship that caused bodily injury or property damage did not constitute an “occurrence” under a policy of commercial general liability insurance, and therefore the insurer was not obligated to pay for the damage or tender a defense. See McGann v. Hobbs Lumber Co., 150 W. Va. 364, 145 S.E.2d 476 (1965) ...
While the motivation behind the Civil Justice Commission’s consultation paper – aimed at enhancing the Court system – is laudable, the proposed introduction of litigation scale costs may hurt Singapore’s standing as a global litigation hub. In 2015, the Chief Justice established the Civil Justice Commission (CJC) to review Singapore’s civil justice system, with the goal of transforming and modernising the litigation process ...
As we explained previously, in April 2016 the Second Appellate District held that California’s Fair Employment and Housing Act (FEHA) creates a separate duty to provide reasonable accommodation to an applicant or employee who is “associated” with a disabled person. On rehearing of the Castro-Ramirez v. Dependable Highway Express, Inc. decision (Case No. B261165, B262524), the Court has retreated from its prior holding ...
A government report on Shared Parental Leave (SPL) reveals a low take-up by eligible parents, with only 1% of eligible mothers and 5% of eligible fathers or partners taking it. What is SPL? SPL is a type of paid family leave that enables eligible employees to take flexible leave during the first year of their child’s life or the first year after adoption ...
I have spent the last few days in Paris with our colleagues from our international network – World Services Group. With professionals from more than 30 countries worldwide, it was a great opportunity to take the temperature of global M&A. Whilst Paris in spring is never to be sniffed at, a number of very positive themes emerged ...
Background Ukrainian citizens fleeing their homeland due to the ongoing crisis are welcome to Romania, where they will receive protection and necessary support. During their stay in Romania, accommodation, food and medical services are accessible for Ukrainians seeking safety from the ongoing military invasion, as a result of a combined effort of the authorities and unrivalled mobilization of private entities and the civil society ...
Although the United Kingdom comprises England, Scotland, Wales and Northern Ireland, this guide relates only to the current position in England and Wales because Scotland and Northern Ireland have their own individual legal systems. The rules and procedure of the Civil Courts in England and Wales are contained in the Civil Procedure Rules (CPR) which were introduced in 1999 and which lay down the framework within which all civil litigation must be conducted ...
The Carey Olsen chapters provide analysis and commentary on blockchain and cryptocurrency regulation in Bermuda, the Cayman Islands and Jersey ...
Contents Government attitude and definition Cryptocurrency regulation Ongoing obligations Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition Bermuda has been recognised as a global leader in the regulation of blockchain and cryptocurrency-b
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
Contents Please click on the links below to jump to the relevant section: Government attitude and definition Cryptocurrency regulation Digital Asset Business Act Scope of the DABA Licensing requirement Application process Criteria to be met by licensees Continuing obligations of licence holders BMA’s supervision and enforcement powers Digital Asset Issuance Act Scope of DAIA Authorisation requirements Authorisation criteria Ongoing obligations BMA’s supervis
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The BVI has established itself as a leading offshore finance centre that is resilient, agile and innovative in the
