The fund received an initial injection of $1 million, a personal donation from Cayman businessman, Mr. Kenneth Dart. The fund will be managed by the newly established foundation, known as: R3 Cayman Foundation. The goal of the fund as listed by the foundation is to “support readiness, relief and recovery efforts in the Cayman Islands in response to emergencies and disasters, such as but not limited to the COVID-19 pandemic.”

Appleby acted as Cayman attorneys advising in relation to the establishment of the foundation. In addition, Appleby’s corporate services arm, Appleby Global Services (Cayman) Limited will provide ongoing corporate services to the foundation.

Carlos de Serpa Pimentel, Partner and Group Head of Appleby’s Private Client & Trusts practice, said the firm’s support for the new foundation was in line with its dedication to community involvement and support in the Cayman Islands and Appleby’s history of previous involvement with recovery initiatives in Cayman.

“We are extremely proud to be involved with the establishment of the new R3 Cayman Foundation, advising them on all relevant legal aspects of their foundation company structure,” he said. “In these unprecedented times it is more important than ever for the Cayman business community to come together and assist in any way possible. Private sector initiatives like this one, along with continued strong leadership and initiative from the Cayman Islands Government, as well as support from the wider Cayman community as a whole, will be crucial in rebuilding Cayman’s economy in the coming months.”

Following its recent establishment, it is intended that R3 Cayman Foundation will be registered as a non-profit organisation.

Further information about R3 Cayman Foundation will be shared at www. R3foundation.ky

Share
Twitter LinkedIn Email Save as PDF
More News
2 Sep 2021 | News

Three Appleby Lawyers shortlisted for Citywealth Lawyer of the Year awards

Appleby partners Garry Manley and Olwyn Barry have been shortlisted for the “IFC Lawyer of the yea...

Contributors: Olwyn Barry, Esmond Brown
3 Aug 2021 | News

Hong Kong Partner David Bulley named as "M&A Lawyer of the Year" in two jurisdictions in the Innovation & Excellence Awards 2021

David Bulley has been named “M&A Lawyer of the Year” for both the Cayman Islands and British Vir...

26 Jul 2021 | News

Appleby Receives High Rankings in Chambers’ Annual High Net Worth Guide 2021

Lawyers from Appleby’s Bermuda, Cayman Islands and Jersey Private Client & Trusts practices ha...

14 Jul 2021 | News

Recent updates of the Cayman Islands Economic Substance Regime bring certain Partnerships into scope

On 30 June 2021, the Cayman Islands Government gazetted an amendment of the ES Schedule Regulations ...

9 Jul 2021 | News

Hong Kong Partner David Bulley once again named as "Corporate Finance Lawyer of the Year"

David Bulley, has been named “Corporate Finance Lawyer of the Year – Cayman Islands” in Financ...

24 Jun 2021 | News

Britannia Litigation: Success or Stalemate?

Britannia Litigation: Success or Stalemate? Cayman Shores Development Ltd and another v Registrar ...

Contributors: Mehreen Siddiqui
31 Mar 2021 | News

Appleby announces new Partner and Counsel promotions

Appleby announces the promotion of three Partners and the appointment of five lawyers to the positio...

10 Mar 2021 | News

Appleby Global Services celebrates second year with triple growth

Appleby Global Services (AGS), Appleby’s specialist corporate and trust services provider recently...

29 Jan 2021 | News

Appleby lawyers recognised in the Private Client Global Elite Directory

Lawyers from across three of Appleby’s global jurisdictions have been selected for the Global Elit...