Mauritius Case-Law Summary August 2019
This is a summary of recent cases likely to influence the practice of global business in Mauritius.
Restrictions on giving financial assistance
Financial assistance refers to the assistance given by a company, whether directors or indirectly, for the purchase of its own shares. The assistance may be of a variety of different types, and includes giving a loan or guarantee, or the provision of security.
Mauritius case summary: State Trading Corporation v Betamax Ltd
This case summary brings a new dimension to the approach of the highest court of the land on international arbitration.
Pledge vs Charge: The Lender's Choice
A fundamental question that arises during secured debt financing transactions is which type of security would confer upon the lender a more advantageous position vis-à-vis any other creditors of the obligor.
Must we separate the roles of Chairman and CEO?
The role of the chairman is critical to good governance and to effective performance but the law does not describe the role other than being the person who chairs board meetings. In Mauritius, the board is headed by the chairman who has influence over the direction of the board and the CEO is not responsible for choosing the chair.
Economic Substance Requirements in Bermuda, the British Virgin Islands and the Cayman Islands
Commercial Real Estate in the Cayman Islands
This Q&A published by Practical Law Real Estate Guide, gives a high level overview of the corporate real estate market in the Cayman Islands.
Probationary Periods – Importance of Dates when Considering Extensions
New employment is not always a smooth process. The employer and employee both need to adjust to new conditions and dynamics. Employees must learn new duties and methods of operation, while employers must learn the work habits, strengths and weaknesses of the new employee. Probationary periods are helpful to both parties as a ‘getting to know you’ phase in what most hope to be a mutually beneficial relationship. However, no relationship is perfect.
Banking & Finance Trends in Asia
Financial technologies (FinTech) have the potential to supplement or disrupt the financial services industry, with internet banking and mobile payment applications as obvious early examples. As offshore centres press forward with ambitions to be leading regional technology hubs, FinTech is an important point of focus, both for market participants and for regulators.
Isle of Man Personal Injury Discount Rate Revision
The Lord Chancellor has this week announced the long-awaited revision of the Discount Rate in England and Wales. The Discount Rate, which is used to adjust high value personal injury lump sum awards to account for the expected rate of return upon investment of the compensation, will increase from -0.75% to -0.25% with effect from 5 August 2019.
This is the first in a series of of Mauritius Regulatory Alerts in which we bring you an overview of the latest legal and regulatory developments in the offshore world, with a particular focus on Mauritius.
