Service via NFT Air-Drop as Good as Gold in the BVI
In the case of AQF v (1) XIO (2) VQF, (3) CGN the BVI Court approved an ex parte order for service by alternative means by serving the “unknown” First Defendants by non-fungible token (NFT) airdrop to digital wallet addresses in the BVI’s first published decision permitting alternative service via NFT air-drop under the new Eastern Caribbean Supreme Court Civil Procedure Rules (Revised Edition) 2023, as well as a mandatory freezing and disclosure order against the Second and Third Respondents as “issuers” of the tokens.
HKEX’S Proposed Expansion of Paperless Listing Regime
On 30 June 2023, HKEx published the conclusions of the consultation on expanding the paperless listing regime and certain rule amendments, in an effort to foster environmental sustainability and to support the global initiatives towards greener economies and a sustainable future.
A Comparative Analysis of BVI and Bermuda Law Security Registration Formalities
The British Overseas Territories of Bermuda and the British Virgin Islands (BVI) are widely recognised as two of the world’s leading international financial services centres. Each is known as providing creditor-friendly legal systems, aided by pragmatic and commercial security registration regimes. These security registration regimes make these jurisdictions attractive options for lenders and businesses to consider when entering into secured financing transactions. This article examines and compares the registration formalities to be met in the BVI and Bermuda, should a lender wish to take security over the assets of BVI and Bermuda entities. In this analysis reference is made to security interests granted as being “charge/s”. However, this term is applied generically and refers to various forms of security interests granted under mortgages, pledges, legal and equitable charges (fixed and floating), assignments, liens and debentures.
G20 Sustainable Finance Initiative and Offshore Green Financing
Green and sustainable finance has been expanding rapidly as investment decisions are increasingly taking into account environmental, social and governance (ESG) factors.
The Stock Exchange of Hong Kong’s Growth Enterprise Market Listing Reforms
On September 26, 2023, HKEx proposed changes to GEM Listing Rules to counter declining new listings since 2019, influenced by the success of the Beijing Stock Exchange in attracting small and medium-sized enterprises.
Exploring Wealth Solutions Amidst Shifting Horizons with Appleby Partner Richard Grasby
Richard shared insights on global trends in wealth structuring and their relevance to Asian markets.
Lisa Upham, Guernsey Advocate and a Notary Public, will look at specific issues relating to various types of power of attorney executed on the island of Guernsey.
The Global sees us share updates and insights from across our network of international offices on the latest legislative news, trends or developments impacting the corporate offshore industry.
Artificial Intelligence and the law
At a time when the implementation of Artificial Intelligence into the professional environment, it is not difficult to predict that the implementation of AI into the running of a law firm will soon become a reality – ‘the key [is to choose] the right area’ of the practice. Indeed, a law firm which practices corporate and commercial as opposed to criminal law has significant benefits and potential for growth by using AI especially where explicit rules are used e.g. employment and tax laws.
Appleby Cayman Islands Regulatory Update – Spring 2023
This Regulatory Update from leading off-shore law firm Appleby discusses key 2022 legislative and regulatory developments and looks ahead at future (and already published) 2023 regulatory developments in the areas of CIMA’s administrative fines regime, financial sanctions and CIMA published circulars. The Appleby Cayman Regulatory Group advises on all areas of Cayman Islands financial services regulation and compliance, including the securities investment business regime, the Insurance/Reinsurance regulatory regime, Anti-Money Laundering compliance as well as Economic Substance and FATCA/CRS compliance.
