Offshore Business Update
This is an update for our clients on how the authorities in our core jurisdictions are responding to COVID-19 and the implications of this in relation to the transaction of business. The purpose of this report is to help our clients better understand what “business as usual” in our jurisdictions* actually means.
By clicking on each of the jurisdictional links below, you can access information for each of our jurisdictions in relation to:
- Filings
- Can searches be conducted?
- Certificates of good standing – if and how these are being conducted
- Other searches – how are these being conducted?
- Court position
- Travel restrictions
- Other Temporary Regulatory Measures
- The implications for economic substance compliance and residency
Bermuda British Virgin Islands Cayman Islands Guernsey
Hong Kong *Isle of Man Jersey Mauritius Seychelles
SPOTLIGHT ARTICLE: FACILITATION OF CROSS BORDER RESTRUCTURING
In July 2020, we looked at restructuring and insolvency solutions for companies severely impacted by the economic ramifications of the then-new Covid-19 pandemic. This article provides a helpful breakdown of the powers and discretion of the domestic courts in the leading offshore jurisdictions where Appleby offices are located to assist the courts of a foreign jurisdiction with a view to facilitating cross border restructuring. As the pandemic grinds on, we believe that it is a good time to remind our readers of the options available to them to “right size”, to compromise the claims of creditors and to deploy processes to secure sustainability in this unprecedented time.
We trust this information is useful in supporting your business in continuing to operate during these unprecedented circumstances.
The intention is to publish updates to this report as and when required. Further articles will also follow in relation to matters pertinent to the current situation in our different jurisdictions.
* Appleby is registered as a Foreign Law Firm in Hong Kong and does not practice Hong Kong Law.
