Absence of assets in Mauritius – not a bar to the recognition and enforcement of foreign judgment
On 12 April 2024, the Mauritian Supreme Court confirmed in Hobler v Harker 2024 SCJ 159, that an application to recognize and enforce a foreign judgment by way of exequatur under the Mauritian Code of Civil Procedure would not be defeated by reason of an absence of assets in Mauritius on the part of the party against whom the foreign judgment is sought to be enforced. In so doing, the Supreme Court held that to award the application for exequatur in such circumstances would not be contrary to public order and that such a judgment would not be ‘academic’ i.e. of no practical effect.
Maximising Efficiency in Fund Termination Through Liquidating Trusts in Mauritius
When it comes to terminating a fund licensed under the laws of Mauritius (Company), one of the key responsibilities of the investment manager is strategizing the best approach for disposing of the Company’s securities and assets. This strategy should not only ensure the Company’s liabilities are met but also aim to maximise returns for investors and creditors. An effective method for achieving these goals is by utilising a ‘liquidating trust’ which in effect is a trust created under the Trusts Act 2001.
Jersey: corporate re-domiciliation and tax residency changes
An analysis of how Jersey law offers flexible solutions for corporate re-domiciliation and tax residency adjustments.
Chief Justice affirms Cayman’s availability for the enforcement of foreign arbitral awards
Chief Justice affirms Cayman’s availability for the enforcement of foreign arbitral awards
The Global – your offshore corporate law questions answered: April 2024
The Global is a quarterly collection of corporate expert insights and analysis across Appleby's global jurisdictions. Here are follow-up FAQs from the insights we shared in the 2023 Q4 Review edition.
Balgobin M. L. v. Maubank Ltd & Anor 2024 SCJ 145 - Case Summary
The Court of Civil Appeal (CCA) delivered an interesting judgment on the adequacy of affidavit evidence when making a bankruptcy order. The CCA, acting solely on the basis of affidavit evidence, upheld an order of the Bankruptcy Court adjudging the appellant (Mr Balgobin) bankrupt pursuant to Section 8 of the Insolvency Act.
Whose crypto is it anyway? – the status of cryptocurrency as ‘property’ under BVI and Cayman law
In recent years, a number of courts have grappled with the question of whether cryptocurrency is “property” or an “asset” within the context of insolvency proceedings. Such proceedings have typically arisen from the collapse of cryptocurrency funds or virtual asset trading platforms.
In June 2023, The Stock Exchange of Hong Kong Limited published consultation conclusions to its consultation paper on the expansion of a paperless listing regime. The revised Listing Rules and related guidance implementing the expanded paperless listing regime have come into effect on 31 December 2023.
Smile - you are on (secret) camera
This article discusses the recent approach of the Cour de Cassation in France on rules of evidence in civil proceedings. In a recent ruling¹ relating to the dismissal of an employee for serious misconduct, the Cour de Cassation has reiterated the principle that evidence obtained unfairly is admissible in civil proceedings. This ruling confirms the approach adopted in a previous ruling dated 22 December 2023² , delivered by the Cour de cassation. It has also provided clarity on the conditions for admissibility of such evidence before the French courts.
Bermuda: Lack of New Players Is Supporting Strong Interest in ILS
All signs point to another very strong year for the catastrophe bond and related insurance-linked securities (ILS) market, and a lack of new capital entering the commercial reinsurance space suggests interest in ILS will remain strong, according to Brad Adderley, Bermuda Managing Partner, Appleby.
