Significant Judgment for Isle of Man Fund Managers
A rethink of exclusion clauses in fund agreements may be needed after the Isle of Man’s appeal court delivered a significant judgment in September. The Court also examined duties owed to funds, which will be of interest to governing bodies, managers, administrators and auditors of Isle of Man funds.
The Insolvency Review – Edition 10
The Insolvency Review offers an in-depth review of the most consequential features of the insolvency laws and procedures in key jurisdictions worldwide. It also examines the practical implications of recent market trends and insolvency case developments.
The company, limited by shares, is the most common corporate entity worldwide. A company generally has two decision making groups: the company in general meeting (i.e. the shareholders) and the board.
Mauritius: Cryptocurrencies and virtual assets – How ready are we?
The world’s prime means of transacting has traditionally been by way of conventional currencies. However, jurisdictions are starting to embrace virtual currencies as a mode of payment. Through the enactment of the Virtual Asset and Initial Token Offering Services Act 2021 (the Act) and issuance of anti‑money laundering and counter‑financing of terrorism (AML/CFT) guidance notes for virtual asset service providers (VASPs) and issuers of initial token offerings (IITOs) (the Notes),1 the Mauritius Financial Services Commission (the Commission) has sought to provide a legal framework within which business activities relating to virtual assets can operate.
Mergers & Acquisitions (M&A) Guide 2022 – Mauritius
This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulations applicable in Mauritius.
Mergers & Acquisitions (M&A) Guide 2022 – Isle of Man
This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulations applicable in the Isle of Man.
Mergers & Acquisitions (M&A) Guide 2022 – Guernsey
This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulations applicable in Guernsey.
Mergers & Acquisitions (M&A) Guide 2022 – Cayman Islands update
This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulations applicable in the Cayman Islands.
Mergers & Acquisitions (M&A) Guide 2022 – British Virgin Islands
This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulations applicable in the British Virgin Islands.
Mergers & Acquisitions (M&A) Guide 2022 – Bermuda
This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulations applicable in Bermuda.
An update to Isle of Man Trust Law
In the week that the Trust and Trustees Bill 2022 goes for its second reading (25 October 2022), it might be helpful to recap what was considered to be the major talking points in the Bill.
Directors’ duties on the eve of insolvency
It is common knowledge that directors of companies owe a duty to the company to act in its best interests. Less well understood is the principle that, when a company reaches a certain level of financial distress, the directors’ duties shift to include a duty to consider the interests of creditors of the company.