Restructuring of (Re) Insurers during Covid-19
Restructuring involves changing the financial, operational, legal or other structures of a business to make it more efficient and more profitable.
The Economic Crime (Transparency and Enforcement) Act 2022: a Jersey perspective
The new Economic Crime (Transparency and Enforcement) Act received Royal Assent on 15 March 2022 (the Act), following an expedited passage through Parliament. After repeated delays to the progression of the legislation amid much criticism, the bill has now been fast tracked through UK Parliament following the invasion of Ukraine by Russia and the focus of Russian money in the UK. The Act is aimed at strengthening the UK's fight against economic crime.
Aircraft financing - a brief guide to Cayman
Legal and administrative service providers in the Cayman Islands such as Appleby can offer aircraft owners and financiers much more in the way of financing, leasing, securitisation and ownership structures not limited to Cayman registered aircraft. A common component to these structures is the use of a Cayman Islands special purpose vehicle (“SPV”) through which funding and leasing arrangements may allow for certain tax, accounting and regulatory relief.
The New Era of China’s Belt and Road Initiative
It presents new opportunities for the offshore legal space, from the establishment of offshore investment funds to offshore bond issuances and IPOs with the use of offshore listing vehicles to raise funds for Belt and Road infrastructure projects.
Restructuring the offshore debt of Chinese Real Estate Developers
This article sets out how the current regimes in the Cayman Islands and the BVI can assist with restructuring, after first highlighting upcoming changes to the supervision regime in the Cayman Islands which will make restructuring there a more attractive option.
Assignment, novation or sub-participation of loans
Transfers of loan portfolios between lending institutions have always been commonplace in the financial market.
Appleby Mauritius Newsletter, April 2022
In the April 2022 issue of Appleby’s newsletter, we give you an overview of the latest legal and regulatory developments in the offshore world for the Mauritian jurisdiction.
Blockchain: The New Normal for Voting?
One of the learning points of the COVID-19 pandemic remains undoubtedly the dramatic shift which it has triggered on the impact of emerging technologies into our business ecosystem. From the ‘good to have’ tool for ease of undertaking our personal necessities or being more commercially savvy, we have moved overnight to accommodating the emerging technologies as the indispensable tool for our personal or commercial demands.
Yue Tue Fee L.A.R. and anor v JMS Aluminium Ltd 2022 SCJ 107
When is a Mise-en-Demeure not required?
Bank One Limited v Basgeet 2021 SCJ 93
The Supreme Court of Mauritius, sitting in its appellate jurisdiction, held that a fixed charge which resulted from the crystallisation of a floating charge which had been duly registered and inscribed with the Registrar General/Conservator of Mortgages of Mauritius, was not valid and enforceable under the terms of the Civil Code because at the time of crystallisation the ‘property’ subject to the now fixed charge had not yet come into existence and, this was not permissible under the Civil Code.
Statutory Demand: The time for a re-think?
A statutory demand is often perceived as a powerful weapon which the Insolvency Act 2009 (‘Insolvency Act’) has placed into the hands of a creditor to secure the prompt settlement of a debt. Indeed, it has the effect of unduly pressurising a debtor to settle its debt swiftly for fear of facing a creditor’s application to the Bankruptcy Division of the Supreme Court (‘Court’) to liquidate the debtor through this ‘fast-track’ weapon the more so that the Insolvency Act has created a presumption of insolvency which operates against a debtor who does not comply with a statutory demand.
Employment rights during and following a pandemic under the Workers’ Rights Act
In view of the ongoing COVID-19 pandemic which is currently affecting the community at a global level, employers are faced with unprecedented questions as to what to do regarding their employees and the way forward, short term or long term.