September 18, 2014

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Cayman Islands National Trust announce AGM

CINTNational Trust for the Cayman Islands

NOTICE OF ANNUAL GENERAL MEETING OF MEMBERS

NOTICE IS HEREBY GIVEN THAT the Annual General Meeting (“the Meeting”) of the members of The National Trust for the Cayman Islands (“the Trust”) will be held on Thursday, September 25, 2014 at 6:00 PM at the Bar Crudo (below Guy Harvey’s Restaurant) at 55 South Church Street. for the following purposes:

  1. To receive the annual report for fiscal year ended June 30, 2014 and financial report for 2014.
  2. To elect members to the Council of the Trust**
  3. To transact such other business as may properly come before the Meeting or any adjournment thereof.

Dated at George Town, Grand Cayman the 11th day of September 2014.

** In accordance with the section 5(7) of the National Trust Bye-Laws additional proposals of names for election may be made in writing signed by the proposer and a seconder (each being a member in good standing of the Trust) and by the person so proposed for election, to be delivered to the office of the Trust via email: director@nationaltrust.org.ky no later than two days before the date of the Annual General Meeting.

A List of Nominees as put forward by the Nominating Committee at today’s date is as follows:

Andy Gibb                                                      Chairman

Darvin Ebanks                                              General Council Member

Patricia Bradley                                            General Council Member

Tommie Bodden                                           General Council Member

John Bothwell                                               General Council Member

Dr. Elaine Campbell                                    General Council Member

John Doak                                                     General Council Member

Charmaine Moss                                          General Council Member

Cathy Frazier                                                General Council Member

Deborah Drummond                                  General Council Member

Chris Randall                                               General Council Member

An up-to-date list of nominees and draft amendments to Bye-Laws will also be available for viewing at the Trust’s office and on the Trust website: www.nationaltrust.org.ky

For more information or to RSVP to the AGM please call 345-749-1121 or email:

marketing@nationaltrust.org.ky

Please note – you must be a current (2014) member of the National Trust for the Cayman Islands and be 18 years of age or older to vote at the AGM

 

Greenlight Capital Re announces additions of Tim Adair and Cliff Dunigan to underwriting team

greenlight-GRAND CAYMAN, Cayman Islands, Sept. 15, 2014 (GLOBE NEWSWIRE) — Greenlight Capital Re, Ltd. (Nasdaq:GLRE), a specialist property and casualty reinsurer based in the Cayman Islands and Ireland, today announced the additions of Tim Adair and Cliff Dunigan to its underwriting team, effective immediately. Both Mr. Adair and Mr. Dunigan will report directly to Chief Underwriting Officer Brendan Barry.

“As we continue to evaluate opportunities, we are pleased to be able to bolster our underwriting team further with the additions of Tim and Cliff,” said Bart Hedges, Greenlight Re’s Chief Executive Officer. “We believe their underwriting portfolio management and industry experience will enhance Greenlight Re’s client-centric underwriting strategy.”

“Tim and Cliff each add 25 years of industry experience to Greenlight Re, which we expect will provide us with significant additional depth,” said Mr. Barry. “Both Tim and Cliff have a history of supporting profitable reinsurance portfolios, as well as developing optimal solutions for their clients, and we are pleased to welcome them to the Greenlight Re team.”

Mr. Adair joins Greenlight Re from Guy Carpenter & Company, where he was a Managing Director since 2005. At Guy Carpenter, he managed a portfolio of reinsurance treaties for several of the company’s largest clients, analyzed actuarial model output to recommend optimal reinsurance structures and was responsible for renewing existing treaties and maintaining a healthy new business production pipeline. Prior to Guy Carpenter, Mr. Adair spent 15 years at Aon Re in a variety of roles, most recently as Senior Vice President. Mr. Adair received his B.A. in Political Science from the University of Vermont.

Mr. Dunigan joins Greenlight Re from B.F. Reinsurance Underwriters, LLC, a subsidiary of W.R. Berkley Corporation, where he was a Senior Vice President since 2007. At B.F. Re, he established a stronger Midwest presence for the company’s treaty, program and facultative segments, and was responsible for the portfolio with the lowest combined ratio in the network. Prior to B.F. Re, Mr. Dunigan spent six years at GE Insurance Solutions, most recently as President of the company’s North American Casualty Facultative/Program division. He has also held positions at Swiss Reinsurance America and Kemper Reinsurance. Mr. Dunigan received his M.B.A. from the Lake Forest Graduate School of Management and his B.A. from Drake University.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of the Company. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market fluctuations, trends in insured and paid losses, catastrophes, regulatory and legal uncertainties and other factors described in our annual report on Form 10-K filed with the Securities Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Greenlight Capital Re, Ltd.

Greenlight Re (www.greenlightre.ky) is a NASDAQ listed company with specialist property and casualty reinsurance companies based in the Cayman Islands and Ireland. Greenlight Re provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Established in 2004, Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share.

END

IMAGE: appleinsider.com

Code of Practice for Cayman Islands health insurance offences announced

health-insuranceA recent notice published in the Cayman Islands Gazette regarding administrative fines for health insurance offences aims to reduce the length of time that it takes to dispose of these offences in the court system.

The new Code of Practice for Administrative Fines for Health Insurance Offences illustrates how the Health Insurance Commission will apply the fines system.

Offences for which fines are liable include failure to provide employees with compulsory health insurance coverage, or with up-to-date information about their approved insurer.

The legislation also requires health insurance providers to file certain documents with the Commission. Failure to provide the Commission with the information is considered an offence.

Other breaches of the Law which could be processed administratively include wrongful termination of health insurance contracts or the reduction of the level of benefits.

Employers or other stakeholders accused of committing certain offences under the Health Insurance Law (2013) may be liable to pay $1,000 to the Government. In the case of a continuing offence there will be a fine of $100 for each day the offence continues. All fines collected will go towards the Government’s revenue.

The accused will receive notification from the Health Insurance Inspector of the offence and be given 21 days to respond. If there is no response during this time, the accused will receive a follow up letter which requires a response within 10 days of receipt for the matter to be addressed administratively. In their response, the accused will have an opportunity to provide any supporting documents for further consideration in relation to the alleged offence (s). Failure to respond within the time permitted will result in a court proceeding.

At any stage during the investigation the accused may request in writing that the matter be dealt with administratively and the Commission shall consider the request. If there is a disagreement with the facts of the case or the accused refuses to sign the administrative fine agreement form, the matter will proceed to court.

The Gazette notice outlines the procedures for hearings between both parties when these are deemed necessary by the Commission. It also provides the forms required to file the case, indicates how fines should be paid, as well as the right to appeal.

Health Minister Hon. Osbourne Bodden commented that, “The Administrative Fines System will allow the Superintendent of Health Insurance to collect administrative fines for violations in an expeditious manner, thereby reducing the workload of the Court. In addition, the Superintendent of Health Insurance now has more authority to enforce and regulate the Health Insurance Law.”

Praising the work done to implement the Administrative Fines System, the Minister added, “The Health Insurance Commission, in partnership with the Ministry of Health and other stakeholders, have worked hard to enhance the law’s capability to meet the current needs of the sector.”

Commenting on plans to implement the new code of practice, Superintendent of Health Insurance Mervyn Connolly stated, “Over the next few weeks the Commission will conduct a public education campaign regarding the Code of Practice for Administrative Fines for health insurance offences. Implementation of the Code of Practice will commence on 1 October 2014.”

For more information, please contact the Health Insurance Commission at 946-2084, or email hic@gov.ky

A copy of the Code of Practice is available on www.dhrs.gov.ky or on www.gazettes.gov.ky in Extraordinary Gazette #58 dated Friday 8 August 2014.

END

IMAGE: www.rpecwa.org

 

Cayman Islands Government channels mark Hurricane Ivan Anniversary

Remembering Ivan Doc the Gov Story Still004 Remembering Ivan Doc the Gov Story Still005Government Information Services (GIS) television and social media channels join Radio Cayman this month in showcasing memories of Hurricane Ivan, 10 years after the storm passed through the Cayman Islands.

Hurricane Ivan was the tenth most intense Atlantic hurricane ever recorded and caused billions of dollars in damage to the islands that it came in contact with, including Grand Cayman.

On Thursday 11 September at 8.00 pm CIGTV looks back at the destruction and re-emergence of Grand Cayman after Ivan had passed our shores. Producer Donna Bush and editor/videographer Stephon Johnson bring together photos and video from 2004 with modern day interviews of some of the key players in the civil service response.

The documentary focuses on how the storm affected the Cayman Islands Government, in particular civil servants on the front line. It looks at the destruction caused by the storm in the context of crisis preparedness in 2004 and 2014.

GIS will also recount the story of Hurricane Ivan on their social media channels, sharing archival photos, messages and reflections on the storm, alongside hurricane preparedness tips that aim to ensure that the public is ready to face the present hurricane season.

Radio Cayman will air its programme, In the Eye of the Storm, on 11-12 September at 7.00 pm, featuring interviews with more than a dozen public and private sector officials as well as community representatives.

This programme will cover a range of topics, from response by the uniformed services, to local utilities and insurance companies, as well as the Ivan’s impact on the environment and on individuals. It also looks at the perspective from Cayman Brac.

Then on 13 September, at 3:30pm, former Director of Broadcasting Loxley Banks will host the live call-in show “Commemorating Ivan”. Guests will include the former head and deputy head of the National Hurricane Committee Kirkland Nixon and Donovan Ebanks, as well as the former Director of the National Weather Service Fred Sambula, and Hazard Management Deputy Director Lee Madison.

The radio station has also dedicated a number of its talk shows over the month to discussing advances in hurricane preparedness since 2004.

GIS and Radio Cayman were among those agencies that contributed significantly to Government’s communications efforts before, during and after Ivan.

Government Information Services was responsible for distributing information to the media from the National Hurricane Committee, from the point that a hurricane alert was declared through the end of the recovery process.

Radio Cayman meanwhile broadcast into the height of the storm, when it lost its generator and link antenna. It was also the only station on air for about two weeks after the hurricane passed. Staff worked first from the emergency communications centre at the fire station, then returned to Radio Cayman once electricity was restored to the area.

Universal & Lowes Hotel announce ‘Caribbean-Themed’ resort for Universal Orlando RESORT

28DC5226D-DD96-F359-564B39D4A4855B83.jpg.pagespeed.ce.reS6PvCPZGFrom BWM

When it opens in the summer of 2016, guests visiting the new Loews Sapphire Falls Resort at Universal Orlando will walk into a colorful Caribbean hideaway built around a lush, tropical lagoon and towering waterfall.

The new hotel, announced today by Universal Orlando Resort and Loews Hotels & Resorts, will be located across Adventure Way from the new Cabana Bay Beach Resort. It will become the destination’s fifth resort hotel and its 1,000 rooms, including 77 suites, will bring the number of on-site hotel rooms at Universal Orlando to 5,200.

Inspired by the picturesque rivers and waterfalls of the Caribbean, Loews Sapphire Falls will immerse guests in a highly themed resort environment using traditional island styling with modern touches. A resort-style pool with a water slide, children’s play area, sand beach and fire pit will help form a central courtyard and will be surrounded by the hotel’s guest rooms. There will be water taxi and shuttle access to all of the entertainment and dining options throughout Universal Orlando Resort.

“We are excited to continue our growth plans at Loews Hotels by building another hotel with our long-standing PARTNERS at Universal Orlando,” says Jonathan Tisch, Chairman of Loews Hotels & Resorts. “Loews Sapphire Falls Resort will be every bit as distinctive as the other four on-site hotels and will offer a new option to families looking for a truly special Orlando vacation.”

“Our guests repeatedly tell us that our Universal Orlando on-site hotels provide them a completely immersive vacation experience from the moment they enter our hotels and are transported to another place,” said Tom Williams, Chairman and Chief Executive Officer, Universal Parks & Resorts. “We look forward to bringing them yet another incredibly themed experience with the opening of Loews Sapphire Falls Resort.”

The new hotel will be full service. Amenities will include Early Park Admission to Universal’s theme parks, a full-service restaurant with scenic views and outdoor dining, a themed lobby lounge, poolside bar and grill, quick-service marketplace, valet service and a fitness center. Booking information and pricing will be announced at a later date.

About Universal Orlando Resort

Vacation like you mean it at Universal Orlando Resort – where every heart pounding, jaw-dropping, goose-bumping second counts. It is the only place where you can turn spending time with your family into spending time as a family. Together, you can soar above Hogwarts with Harry Potter, swing above the streets with Spider-Man, become a Minion in the hilarious and heartwarming Despicable Me Minion Mayhem ride, and join Optimus Prime in the fight to save mankind on the new mega-attraction, TRANSFORMERS: The Ride – 3D. And now, you can board the Hogwarts Express and step into The Wizarding World of Harry Potter – Diagon Alley.

Universal Orlando Resort is home to two incredible theme parks: Universal Studios Florida and Universal’s Islands of Adventure; four magnificently themed on-site hotels: Loews Portofino Bay Hotel, Hard Rock Hotel, Loews Royal Pacific Resort and the newest addition, Universal’s Cabana Bay Beach Resort; and Universal CityWalk – enjoy the best in restaurants, live music, shopping, movies and more. And located just minutes from Universal Orlando Resort is Wet n’ Wild, Orlando’s premier waterpark.

Universal Orlando Resort is part of NBCUniversal, a Comcast company. Follow Universal Orlando Resort on Facebook, Twitter, Instagram and YouTube.

FAST FACTS

Opening Date: Summer 2016

Style: Casual and easy-going Caribbean-inspired resort surrounding a lush, tropical lagoon and towering waterfall.

Rooms: 1,000 guest rooms and suites.

Amenities: Highlights include Early Park Admission to Universal’s theme parks, resort-style pool with water slide and children’s play area, valet service and a fitness center.

Dining: Full-service restaurant with scenic views and outdoor dining, themed lobby lounge, quick-service marketplace, poolside bar and grill.

Reservations: Will be accepted in spring 2015

For more on this story go to: http://www.broadwayworld.com/bwwtv/article/Universal-Lowes-Hotel-Announce-Caribbean-Themed-Resort-for-Universal-Orlando-RESORT-20140909#

 

Cayman Islands Governor’s first anniversary

F71B2695B726B145E0406F0A6F1F7A30Governor Helen Kilpatrick marked her first anniversary in the Cayman Islands by speaking to CITN/Cayman 27. The Governor provides the following interview for use by iNews Cayman

How do you feel about your first year in office?

Amazed that it has been a year already! The year has passed by very quickly indeed. Of course, my anniversary comes shortly after that marked by the Government in May and there have been some significant achievements over the year. I have been particularly pleased to see the progress made to reduce the government debt burden and to get public finances onto a sounder footing, the passing of the National Conservation Bill, and the work being done on the three major capital projects – the Cruise Berth, the Airport and the George Town landfill site. I am encouraged that the government is following established best procurement practice and observing good governance

Of course it hasn’t all been work in the office and I have been very grateful for the opportunity to get out and about, in Grand Cayman and the Sister Islands, and to meet so many great people.

Was it what you expected?

It was better than expected! I had visited former Governor Taylor for just a couple of days in the July before I arrived and was very impressed with the island and the people who live here. But you really need more time to really appreciate just how special these islands are.

Did anything come as a surprise?

Quite a few things have come as a surprise – including the fact that fish can chase you as I have learned to my cost!   But seriously, I have been bowled over by just how generous and charitable the people of the Cayman Islands are. I do not just mean the multitude of events organised to support various charities and groups – although these are excellent and achieve a great deal –but how generous so many members of the community are with their time on a day to day basis. Everyone seems to be contributing to the community through youth groups, sports, churches and many other ways.

The community really pulls together when others are in need for example the response from everyone here to the Philippine Typhoon last year was incredible. Derek Haines’ six marathon challenge to build a new hospice is another great example of this community spirit. Cayman Islanders are very good at making time for others, from simple daily courtesies to the larger gestures I have just mentioned. The people here really are the friendliest I have met.

Downsizing the civil service has been a topic for some time, this rationalization project may be the first tangible step to seeing movement in this direction. Do you plan to make sure it comes to fruition as the ultimate head of the civil service?

Since I have been in the Cayman Islands I have been impressed with the commitment that the Deputy Governor has shown to tackling a move to a more efficient public sector. Cabinet will shortly consider the EY Review that the Deputy Governor commissioned. It is important to recognise the need to reduce the size of the civil service whilst caring about the welfare of civil servants.   I’m encouraged that the deputy Governor has identified an experienced and capable civil servant to head the implementation team. I will continue to give this work my full support as it moves forward.

You also have oversight for the police – burglaries are on the rise. Is this a case of police not able to keep the crime under control or the symptom of a community still grappling with high unemployment? Or a combination of both?

I am very conscious indeed that safety and security is a key issue for everyone who lives here – and for visitors too. The Royal Cayman Islands Police Service have demonstrated that they are able to respond to spikes in crime but some underlying social issues need to be addressed too. I think we have all been shocked at just how young some of the children recently arrested for burglary have been. There are far too many burglaries, but this year there have been11% (or 50) fewer burglaries than last year.

The Cayman Islands remain the safest part of the Caribbean. Daily intervention by RCIPS has served to put a lid on the worst of the gang activity.   Everyone will remember only too well, the shootings in 2011 which saw 5 deaths in nine days. Gang issues haven’t gone away but the excesses have been controlled by targeted policing.

There is a wider debate beginning to take place on social failings. You could argue that a breakdown in family authority is, in part, responsible for 11 yr old burglars. The police are not going to solve those ills, but have to hold line whilst wider social policy is introduced to address the social problems experienced by sections of the community.

It’s encouraging that this year saw the first all Caymanian recruit class for over 20 yrs, saw 9 brand new recruits enter the service. I wish them every success in their future careers.

You’ve had to deal with some residual issues from your predecessors, Operation Tempura to name one – where is that now and what has your approach been?

As you will know there are cases that are still before the courts so it really is inappropriate for me to comment on anything related to Operation Tempura.

I appreciate that this is something that the media are going to speculate about, and I recognise the professionalism of the media here, but I really am unable to comment any further given the pending legal cases.

How is your relationship with government?

I have a very good working relationship with the Government who in turn have developed a very good working relationship with the former British Minister for the Overseas Territories, Mark Simmonds. Over the last few weeks Mr Simmonds has left the Foreign Office and been replaced by Minister James Duddridge. The Premier and Minister Panton will meet Mr Duddridge for the first time when they visit the UK later this month and, again at the Joint Ministerial Council that will be held in London in December.

What has been the most difficult part of your first year?

I think that the most difficult thing is that I can’t be in two places at the same time. I receive lots of invitations and I am keen to accept as many as possible. I’d like to apologise to all those that have been kind enough to invite me to events that I’ve been unable to attend

What has been the highlight of your year?

The warm welcome that I received back in September 2013 will stick in my memory for a very long time, particularly the events in each District. It has been both a challenging and exciting year. I’ve learnt so much and met so many wonderful people it is difficult to pick out one specific highlight. These were a tremendous opportunity for me to appreciate the different histories and cultures of each district and to meet as many local residents as I could.

What has been the lowlight of your year?

It can be frustrating that some of my work is done ‘behind the scenes’ which means it’s not always possible to say things in public as much as perhaps I’d like to.

What is your favourite part of the Cayman Islands?

I am lucky enough to have visited all of the Islands and travelled extensively across Grand Cayman. I recognise that I am exceptionally fortunate to be able to wake up at Government House and to have breakfast looking out onto the beautiful Seven Mile Beach every morning.

What has been your favourite event that you have attended?

I’ve attended many wonderful events. These have ranged from culture showpieces like Pirates’ Week and the agricultural shows to glittering charity fundraisers at the fine hotels that we have on Cayman. I was really pleased that we were able to re-instate the Queen’s Birthday Party at Government House this year after the excellent parade in George Town. I hope this will become a tradition during my time here.

What are you looking forward to in your second year?

There is still much to do and there are sure to be some challenges ahead, but the relationship that we have built will mean I am able to engage in open and constructive conversations with the government to meet any such challenges. I am particularly keen to see implementation of the action plan on the EY review when the Cabinet has approved this.

One thing that I am looking forward to in the coming year is Cayman Cookout. For the first time the Governor’s office, with the Department of Tourism and British Airways have invited a young British Chef, Adam Handling, to participate. I hope that this will give Cayman a taste of the excellent cuisine that the UK enjoys and will give Adam a chance to cook with the wonderful season produce that is on offer here. I expect there to be a competition so that lucky Caymanians can win the chance to visit the UK to eat in Adam’s London restaurant. We’ll have more details later in the year.

How are we performing economically?

I think that we are performing very well and are on course to be compliant with the financial framework by 2016. This will be a very considerable achievement that will put the Cayman Islands on a sound financial basis for the future.

Do you think that we have the necessary skill set for this?

Yes, I do think that we have necessary skills and we have a very able Finance Minister. But we cannot become complacent as there are always likely to be surprises ahead. No-one, for example, could have predicted the depth of the global recession that hit in 2008.

Hannah’s Confession to open at Harquail end of September

Hannah's ConfessionFrom Juliet Garrick

We’re almost there! “Hannah’s Confession” will open at the Harquail Theatre on Friday, 26th September! Ten months of preparation will find a group of amazing actors on stage telling the haunting story of a fifteen year old girl who struggles to care for her younger siblings while battling severe adversity. Please join us as we take a look at some fresh new talent as well as veteran actors in surprising roles.

Be sure to reserve your tickets by sending a quick email to cipac345@gmail.com. Don’t be one of the unlucky few who will say, “I didn’t get to see it.”. The youngest members of the cast range in age from 8 to 17 and attend: Clifton Hunter High School, Cayman International School, John Gray High School, St. Ignatius Catholic School, Triple C School, Cayman Prep and High School, Red Bay Primary School, Spot Bay Primary School and Cayman Islands Further Education Centre.

Come out and support the young members of the Cayman Islands Performing Arts Company! If you have any questions about the show feel free to contact me. I’ll see you all at the show!

Harquail Theatre

7:30pm

$15

Parental discretion is advised.

Children 13 and under must be accompanied by an adult.

Friday,September 26th,2014

Saturday,September 27th,2014

Friday,October 3rd,2014

Saturday,October 4th,2014

Featuring:

Rita Estevanovlch, Michael Mclaughlin, Herbie Martin, Kalle Broderidc, Sharlene Brown, Diana Webb, Michael Webb, Karlnya Linford, Ansel Tempral, Juliet Garricks, Thorr Scott, Susan Ebanks, Torrle Lewis, Tamiyah Ebanks, Oeija Myles, Sherika McPherson, Keanna Kelly, Alwin Buttrum, Alsha Stanuei-Taltte, Britaney Thompson, Priscilla Pouchle, Lesleyann Bernard, Blanca Tibbetts, Dawn Largle, Lemonle Smith, Dre Mcfleld & Arlana Gilbert

See attachment for more the details.

LDK Solar announces filing of Schemes of Arrangement in Hong Kong

C611X0137H_2012資料照片_N71_copy1GEORGE TOWN, Cayman Islands, XINYU CITY, China and SUNNYVALE, Calif., Sept. 8, 2014 /PRNewswire/ — LDK Solar CO., Ltd. in provisional liquidation (“LDK Solar” or the “Company”) and its Joint Provisional Liquidators (“JPLs”), Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, today announced that, subsequent to the filing on August 29, 2014 by the Company and its subsidiary, LDK Silicon & Chemical Technology Co., Ltd. (“LDK Silicon”), of the petition to commence their restructuring proceedings in the Grand Court of the Cayman Islands (the “Cayman Court”), the Company, LDK Silicon and LDK Silicon Holding Co., Limited (“LDK Silicon Holding”) have today each applied to file an originating summons to commence their restructuring proceedings in the High Court of Hong Kong (the “Hong Kong Court”). The Company is awaiting confirmation of the date of the first hearing before the Hong Kong Court. At that hearing, the Company, LDK Silicon, LDK Silicon Holding and the JPLs will seek orders to convene meetings of the scheme creditors of the Company, LDK Silicon and LDK Silicon Holding on or around October 17, 2014, Hong Kong time, to consider and approve their respective Hong Kong schemes of arrangement. Similarly, the Company, LDK Silicon and the JPLs will seek orders to convene meetings of the scheme creditors of the Company and LDK Silicon on or around October 16, 2014, Cayman Islands time, to consider and approve their respective Cayman Islands schemes of arrangement.

On September 5, 2014, the Company and LDK Silicon filed evidence in support of their application to the Cayman Court for orders convening meetings of their scheme creditors, including the proposed Explanatory Statement relating to the Cayman and Hong Kong schemes of arrangement. The Company also submitted a periodic report on Form 6-K to the U.S. Securities and Exchange Commission on September 8, 2014 containing such Explanatory Statement (with certain appendices omitted).

In addition, as a result of the resignation by Mr. Xiaofeng Peng, former Chairman of the Company, on August 29, 2014, Mr. Xingxue Tong, current President and Chief Executive Officer of the Company, has since assumed the Interim Chairman position during the transition period before a permanent Chairman is identified and appointed. To enhance the corporate governance of the Company during this interim period, the Board of Directors of the Company (the “Board”), with the consent of the JPLs, has established an interim executive committee (the “Executive Committee”), effective September 4, 2014, to supervise and support the work of the Interim Chairman during the provisional liquidation of the Company and to be responsible and to report to the Board, subject to the authority of the JPLs as sanctioned by the Cayman Court. The Board also approved, with the consent of the JPLs, that the Executive Committee be composed of three existing members of the Board: (1) Mr. Zhibin Liu (director of Heng Rui Xin Energy (HK) Co., Limited, a major shareholder of the Company and an affiliate of the Xinyu City government), (2) Mr. Xingxue Tong (current President and Chief Executive Officer of the Company), and (3) Mr. Shi Chen (member of the Board nominated by Fulai Investments Limited, a major shareholder of the Company). The Executive Committee is headed by Mr. Zhibin Liu and is subject to dissolution by the Board when a permanent Chairman of the Board has been identified and appointed.

Cautionary Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including risks and uncertainties disclosed in LDK Solar’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solar’s management as of the date such information was prepared and on its expectations, assumptions, estimates and projections as of such date. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.

About LDK Solar in provisional liquidation

LDK Solar Co., Ltd. in provisional liquidation is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar’s principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People’s Republic of China. LDK Solar’s subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit www.ldksolar.com.

SOURCE LDK Solar Co., Ltd.

See also iNews Cayman related story with links to many others published September 8 2014 “LDK Solar announces filing of scheme of arrangement and resignation of Xiaofeng Peng” at: http://www.ieyenews.com/wordpress/ldk-solar-announces-filing-of-scheme-of-arrangement-and-resignation-of-xiaofeng-peng/

IMAGE: www.wantchinatimes.com

All the world’s an island: Correspondent Carol-Ann covers the Globe with only a back pack Part Four

With Michel and RegineBy Carol-Ann Rudy

This is a continuing story of iNews Cayman’s correspondent Carol-Ann Rudy’s journey across Europe.

Barcelona and The Mediterranean

It could be argued that moving at 300 miles per hour and more on the train the next day that I couldn’t possibly be getting the eyeful I wanted of the Spanish countryside, but not so. I’d gotten plenty on the trip to Granada, and now that I was on my way to Madrid and Barcelona, I was happy to spend the better part of the trip engaged in pleasant conversation with an Irishman who now lives in Madrid with his Spanish wife. As an Cristoforo Colombo looms over the PlazaEnglish language instructor providing services to corporations, he was well-read and humorous too. This would not be the only time I would enjoy one of the benefits of travel overseas: the opportunity for chance meetings with perfect strangers.

In Madrid, I had to leave the station, take a bus to second station, and board one more train to Barcelona. I eagerly looked for my first view of the Mediterranean and was rewarded with glimpses of bright blue to the south. Arriving in Barcelona a couple of hours later, I had yet another stretch ahead of me to reach the docks and finally the ferry to Civitavecchia in Italy. This stretch consisted of a subway once again and a transfer to a second one. I had covered a lot of ground in this one day and was very glad that the sun was still shining when I emerged into the beautiful Columbus Plaza by the sea, featuring stunning architecture highlighted by the central statue of the explorer Cristoforo Columbo. Still hefting my 20 lb. plus backpack, I hoofed it another two or three miles to the ferry. Some ferry—it was the equivalent of ocean-going vessels on which I’ve traveled, large and luxurious.

A word about my fellow travelers: everyone I met seemed as untroubled as I felt. I was Another View of Cristoforo Colombo Plazagenerally met with courtesy except in a couple of circumstances—more about that later. I was particularly impressed with the parenting skills of every European family I saw and had the pleasure of visiting. They interacted with each other with a calm, pleasant demeanor, making them a joy to be around.

The ship took a long time to actually get underway but by 11:00 we were heading out to sea with clear skies and the moon overhead. By that time the sun had just set; one of the pleasures of being in a more northern clime is the lingering twilight. My A Long Walk down the Docks to the Ferry in Barcelonaroommate was a lovely Costa Rican girl; she spoke no English, I spoke no Spanish, and we got along great. I spent some time roaming around the ship, enjoyed pizza and beer on the top deck, and listened to my roommate strum her guitar and sing in a soft alto voice for all to enjoy. A good night’s sleep buried in the heart of the vessel—a little like sleeping in a closet in this two-bunk cabin with bathroom but quite nice really.

The next morning I came to the conclusion with the Business Breakfast I had prepaid for that Europeans in general are not Twilight over Barcelona from the Shipbig on breakfast. It was not what I was accustomed to and wished I had bought the buffet. I picked up two packets of sugar for my coffee only to find after sipping it that it wasn’t sugar—it was salt! A closer look at the packages side-by-side on the serving table and I realized the packaging was almost identical. But lunch was a treat. I had a serving of outstanding lasagna and halfway through it realized it was broccoli lasagna. Accompanying that was a filet of fish coated top and bottom with what I later determined had to be crushed pine nuts. I also The Childrens Playroom aboard shiphelped myself to brussel sprouts and carrots, grilled thin-sliced eggplant and zucchini in olive oil and spices. Yum!

Finally disembarking in Civitavecchia about 8:30 that night, I once again boarded a local train for Rome and headed for my B&B for the next two nights. Thank goodness for my Euro Rail Pass! It took a good two hours to arrive in Rome, contact my hosts, follow their instructions to take the subway and transfer one more time. My host met me at my final stop to drive me to their B&B for safety’s sake. It was very nice with an outstanding Moon over Ferry Smoke Stack(shared) bathroom, my first experience with Italian design. And a big plus: it was air-conditioned. Once again, I found myself arriving at the conclusion that I’m downright spoiled!

IMAGES

Captions from top to bottom

With my friends Michel and Regine

Cristoforo Colombo looms over the Plaza named for him in Barcelona

Cruising on the MediterraneanElegant architecture in Cristoforo Colombo Plaza

It was a long walk from the Plaza to the Grimaldi Ferry dock

Twilight over Barcelona from the Ship

Moon over Ferry Smoke Stack

Many fathers could be seen with their children in the children’s playroom.

Cruising on the Mediterranean

NEXT: Rome!

Carol-Ann-Rudy11To read the first part of Carol-Ann’s story of how she covers the globe with only a backpack published in iNews Cayman on August 11 2014 go to: http://www.ieyenews.com/wordpress/all-the-worlds-an-island-correspondent-carol-ann-covers-the-globe-with-only-a-back-pack/

To read the second part of Carol-Ann’s story of how she covers the globe with only a backpack published in iNews Cayman on August 18 2014 go to: http://www.ieyenews.com/wordpress/all-the-worlds-an-island-correspondent-carol-ann-covers-the-globe-with-only-a-back-pack-part-two/

To read the third part of Carol-Ann’s story of how she covers the globe with only a backpack published in iNews Cayman on August 26 2014 go to: http://www.ieyenews.com/wordpress/all-the-worlds-an-island-correspondent-carol-ann-covers-the-globe-with-only-a-back-pack-part-three/

 

 

Cayman Islands Premier announces Electoral Reform for ‘One Man, One Vote’

A298 one man one vote Flag 73-2361Premier’s Press Statement regarding Government Motion on Electoral Reform

September 3, 2014

I am very pleased to announce today [Wed 3] that the Government will bring a motion to the Legislative Assembly on Wednesday September 10th, 2014, on the subject of One Elector One Vote, and Single Member Electoral districts.   The aim is to ensure that this change will come about in good time for the next general election.

This motion delivers on our promise in the Progressives election Manifesto regarding “Amending the Elections Law to establish single member electoral districts in good time for the 2017 elections, thereby giving effect to the desires of the majority of Caymanians who participated in the One Man One Vote Referendum”.

Of course there are also elected members of Government who did not run as Progressives, and who we invited to join us in governing, but who also campaigned on one, or both, of the ideals of voter equality and Single Member Electoral districts.

Today I am pleased to say that the Progressives led Government stands united in support of both of these ideals. Collectively we are satisfied that given the platforms we campaigned on, coupled with the voices of over 5000 Caymanians who voted in favour of the referendum motion, that we do have a mandate to carry out these changes.

It is worth noting that once adopted this change in our voting system will also satisfy the first recommendation made by the Election Observer Mission in their report to the Country, following the election in May of 2013, for the need to introduce what they termed ‘Equal Suffrage’ – that is “one person one vote or equal number of votes”.

As many of you may know the concepts of equality of vote or franchise and single member electoral districts have been the position of Progressives for more than a decade; long before it became a talking point for those new to the political scene. This Government also recognizes that despite the Progressives maintaining this position over many years, there are Caymanians and some residents who have had, and continue to have, some reservations regarding this change.

We have listened to these concerns, and considered them carefully. But after reflecting and discussing amongst ourselves for some time now, we are all of the view that this change is needed to bring our voting system into the modern world. No system is perfect, but we believe that it is right to provide voting equality to all citizens and with it to ensure that a voter can look to one individual as his or her representative. It is also right that we ensure, as best as possible and practical, that electoral districts compromise roughly the same number of voters.

We have not ignored the concerns of fellow Caymanians who want to ensure that as we move forward we do so in the surest fashion – being careful that what is implemented is done in the best and most reasonable way possible. Indeed, those of us who support voter equality and single member electoral districts also urge this approach.

As such the Government motion will ask the Legislative Assembly to invite the Governor, under section 80 of the Constitution, to appoint an Electoral Boundary Commission, and for the Commission to be charged under section 89(6) of the Constitution to determine the boundaries of the Electoral Districts of the Cayman Islands. Once the work of the Commission is done the Government will submit to the LA a draft bill to make the necessary amendments to the Elections Law (2013 Revision).

Copies of the actual Government Motion have been supplied to the media and will be placed on Government’s website today.

I would like to address the question of why a new Boundary Commission is required. This is not only a requirement under the Constitution, but it is also needed because the voters list has swelled by over 3,000 new voters (over 20%) since the 2010 Boundary Commission report was published. This is too large a number to ignore and mandates that a new Boundary Commission be appointed to carefully consider where the changes have occurred and to recommend where boundaries should be drawn to ensure equality of voters in each electoral constituency.   We cannot rely on a 2010 Electoral Boundary report that is now outdated.

I would also point out that this approach has the full agreement of Cabinet and that the Attorney General’s Chambers has been consulted on the approach and have assisted in the drafting of the motion itself. So we are satisfied on legal and constitutional grounds regarding the approach that the motion calls for.

I know full well that whilst there are many who will cheer this cautious approach, understanding that we need to get this right and cannot take short cuts, there will also be those who will accuse us of delaying the process so that it cannot occur in time for the next election. To those I say this is simply not the case. It is our intention that this entire process will be complete by mid-2015 – almost two years before the next general election. We must get this right – it is too important a change to do otherwise. Of course we will also ensure that there will be an appropriate public education campaign conducted to ensure that the public participates in the elections next time around fully prepared and understanding the new process.

END

GOVERNMENT MOTION NO.          XXXXX/14

THE CAYMAN ISLANDS CONSTITUTION ORDER 2009, SI. 2009 No. 1379

WHEREAS there is consensus in the Government for the adoption of the principle of one elector one vote as the basis of the electoral system of the Cayman Islands;

AND WHEREAS the Government is desirous that the Cayman Islands be divided into single member electoral districts;

AND WHEREAS section 88(1) of the Constitution set out in Schedule 2 to the Cayman Islands Constitution Order 2009, SI. 2009 No. 1379 (in this Motion referred to as “the Constitution”) provides that an Electoral Boundary Commission shall be appointed from time to time at such time as the Governor, acting after consultation with the Premier and the Leader of the Opposition, may determine;

AND WHEREAS section 89 of the Constitution provides that an Electoral Boundary Commission shall, as soon as practicable after its appointment, review the boundaries of the electoral districts into which the Cayman Islands are divided and, taking into account the changes or proposed changes, if any, in the number of electoral districts or of elected members of the Legislative Assembly, shall submit a report to the Governor and the Legislative Assembly containing its recommendations for any changes in the number and boundaries of the electoral districts;

AND WHEREAS section 60(2) of the Constitution provides that a law made under section 59(2) may increase the number of elected members of the Legislative Assembly; but no such law shall come into force unless an order by the Governor providing for the electoral districts and their boundaries to take account of the additional elected members in accordance with section 89 has been made;

AND WHEREAS at the time when the Electoral Boundary Commission Report 2010 was made the number of registered electors was 15,300;

AND WHEREAS at the time of the General Elections in 2013, the number of registered electors had increased to 18,434;

AND WHEREAS the Elections Office has confirmed that the number of electors registered as at 1 July 2014 is 18,364, a 20.03% increase over the 2010 numbers;

AND WHEREAS due to such large increase in the number of registered electors (from 2010 to date), there is a need for an Electoral Boundary Commission to be appointed to review the boundaries of the electoral districts into which the Cayman Islands are divided, taking into account the significant increase in the number of registered electors, proposed changes in the number of electoral districts and proposed changes in the number of elected members of the Legislative Assembly;

BE IT THEREFORE RESOLVED THAT the Legislative Assembly agrees that the Governor should be invited, in accordance with section 88 of the Constitution, to appoint an Electoral Boundary Commission;

AND BE IT FURTHER RESOLVED THAT following the making of an Order by the Governor, pursuant to section 89(6) of the Constitution, for the determination of the boundaries of the electoral districts of the Cayman Islands, the Government thereafter submits to the Legislative Assembly a Bill to make the necessary amendments to the Elections Law (2013 Revision) in accordance with the said Order to enable the establishment of single member electoral districts in the Cayman Islands, with each elector having one vote;

AND BE IT FURTHER RESOLVED THAT the process be completed in good time so as to ensure that the General Elections due in 2017 are conducted on the basis of single member electoral districts with each elector having one vote.

MOVED BY:

The Honourable Alden McLaughlin, Premier and Minister Responsible for Home and Community Affairs.

TABLED in the Clerk’s Office the       2nd     day of Sept, 2014.

PASSED/REJECTED by the Legislative Assembly the           day of September, 2014.

Clerk of the Legislative Assembly.

 

END

IMAGE: americanhistory.si.edu

 

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