Best Practices for Conducting Investigations into Employee Grievances
Grievance procedures are very important, but often overlooked, procedures that all employers should have. Well-set out and clear grievance procedures can benefit both the employee and the employer. The employee has a formal mechanism by which they can raise workplace concerns, which in turn means that a fair outcome is more likely, and the employer can protect themselves from claims of discrimination and constructive unfair dismissal by ensuring that they have addressed employee concerns in a fair and transparent way.
Funds - How to Comply with Cayman's New Corporate Governance Rules
The Cayman Islands Monetary Authority (CIMA) issued rules on corporate governance and internal controls (Rules) applicable to all its regulated entities last year and those Rules have been effective since 14 October 2023. The Rules apply to both hedge funds and private equity funds registered with CIMA. This publication provides a summary of the requirements set out in each of the Rules and takes a look at some of the options available to Cayman funds to ensure compliance with the Rules.
ESG and private equity – towards a new role for lawyers?
Since the outbreak of the COVID-19 pandemic, much has been said on the importance of environmental, social and governance (ESG) in the private equity industry. Recently, the concept gathered momentum through the coming into force of the EU Taxonomy¹ on 01 January 2022 and the EU Sustainable Financial Disclosure Regulation in 2022. As a result of these rules, disclosures under the Task Force on Climate-Related Financial Disclosures became mandatory.
Applying Twice: BVI Court of Appeal Reinforces The Protection Available to Beneficial Owners
On 25 April 2024, the Court of Appeal of the Eastern Caribbean Supreme Court delivered a significant judgment, which is likely to be widely welcomed as reinforcing the protection available to shareholders of BVI Companies, and their beneficial owners: Floreat Real Estate Limited v. Chia Hsing Wang BVICHMAP 2023/0017.
A recent Judgment on the principles applicable to charitable trusts, wills and their construction emphasises the primacy of English trusts law as the basis for Jersey trusts law principles unless the island’s statute or customary law can be said to clearly differ. Find out more
Secondary Pensions in Guernsey: Are you ready for it?
After several years of planning (and delays), The Secondary Pensions (Guernsey and Alderney) Law (Law) is due to shortly come into force for all employers. The Law’s fundamental aim is tackling pensioner poverty on the island, by requiring all employers to set up a pension for all their eligible employees, enrol them into it, and begin mandatory contributions.
Appleby Mauritius Quarter One Newsletter 2024
As we navigate through this dynamic year, Appleby's first Mauritius newsletter of 2024 sees our team share some significant developments that have shaped the legal landscape and impacted our clients.
Receivership: an enforcement mechanism for lenders
In a world of business, unforeseen circumstances can often arise that lead a company to financial distress or near insolvency. During such times, the appointment of a receiver is a common legal remedy that serves to protect the interests of lenders.
The JCPC reaffirmed the exception to the bank secrecy rule
Further to the oral judgment of the Judicial Committee of the Privy Council (JCPC) on 06 July 2023 as summarised here (The JCPC Overrules The Judgement Of The Supreme Court Of Mauritius In Stanford Asset Holding Limited V Afrasia Bank Limited And Grants Disclosure Order | Appleby (applebyglobal.com)), the JCPC has, on 10 October 2023, stated its reasons for granting a disclosure order in the case of Stanford Asset Holding Limited v/s Afrasia Bank Limited 2023 UKPC 35.
Cayman Islands Grand Court Orders Disclosure Despite PRC Data Security Law Concerns
The Cayman Islands Grand Court has recently ordered disclosure of documents in on-going court proceedings despite arguments that disclosure would breach the PRC’s Data Security Law.
Regulation of Moneylending in Mauritius
Moneylending is a crucial credit device in the world of financial services which plays a significant role in supporting economic growth and development. However, since at the outset, there were exploitative tendencies of lenders imposing stringent and oppressive terms on desperate borrowers, it was essential to establish an effective regulatory framework to sufficiently protect the borrowers from abuses.
Katra Holdings Ltd v Standard Chartered Bank (Mauritius) Ltd [2024] UKPC 8 - case summary
The Privy Council set aside an appeal challenging a winding up order of a Mauritian company, Katra Holdings Ltd (the Company), and the judgment of the Supreme Court (Civil Appeal Division) upholding that order.
