May 22, 2018

Regulatory immunity no shield for Options Clearing Corp from accusations some investors got tips on price movement

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By Robert Davis CHICAGO — The organization known as the world’s largest equity derivative clearinghouse must yet face a lawsuit accusing it of tipping off certain investors to changes in the price of certain options, as a state appeals panel says such private admissions undermine the protections it might otherwise enjoy under regulatory immunity. In […]

Sohu to Reincorporate from Delaware to Cayman Islands

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By Peter H. Frank From Capital Watch The Chinese internet giant said that shareholders would not be affected, except that they would receive American depositary shares in the newly established company. Sohu.com Inc. announced today its intention to end its incorporation in Delaware and convert to a Cayman Islands-based company. The Chinese internet giant said […]

Celebrities choose the Residences at Seafire in the Cayman Islands

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The Residences at Seafire, luxury real estate on Grand Cayman’s Seven Mile Beach, is attracting a celebrity clientele including Armie Hammer, Will Smith and Caroline Wozniacki Everything is so well thought out and impeccably planned. It was perfect. It’s much bigger than anything we had there while I was growing up, but at the same […]

Greenlight Capital Re reports 4Q loss

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Associated Press From Yahoo News GRAND CAYMAN, Cayman Islands (AP) _ Greenlight Capital Re Ltd. (GLRE) on Tuesday reported a fourth-quarter loss of $37.7 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Grand Cayman, Cayman Islands-based company said it had a loss of $1.02. The property […]

Cayman Islands Proud of Them Awards Ceremony

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Bodden Town was amply represented with half of the 12 Proud of Them honourees hailing from that district at Wednesday’s (29 November 2017) awards ceremony. The evening’s recipients were Sarah Clair Jackson, 17, GT, – academics; Brianna Bodden,16, BT – Academics; Anja van Genderen, BT – academics; Kareem Foster, 17, BT, – Sports; Joshewa Frederick-Charlery, […]

Software Developer: Tax woe drove us to Cayman Islands

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By NEIL HARTNELL From Tribune242 A Bahamian software developer yesterday revealed he was forced to domicile in the Cayman Islands to prevent VAT and Business License fees “killing” his competitiveness. Bruce Raine, International Private Banking Systems (IPBS) principal, told Tribune Business that his company’s experience showed that the Government needed to enact multiple, far-reaching economic […]

Cayman Islands: Investment Funds Observations 2017 – Part One

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Article by Walkers From Mondaq After several years of lacklustre returns, nearly all strategies covered by Preqin have shown positive results in 20171, with event-driven and equity funds performing particularly well. According to Preqin’s survey of investment managers in June 2017, the leading drivers are largely political. Benign stock markets since late 2016 (the so-called […]

Greenlight Capital Re posts 3Q profit

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AP From Yahoo News GRAND CAYMAN, Cayman Islands (AP) _ Greenlight Capital Re Ltd. (GLRE) on Monday reported third-quarter earnings of $19.9 million. The Grand Cayman, Cayman Islands-based company said it had net income of 53 cents per share. The property and casualty reinsurance service provider posted revenue of $236.1 million in the period. Greenlight […]

Cayman Islands Tests U.S. Meal-Kit Service to boost its food tourism marketing

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By Dan Peltier, From Skift When many U.S. travelers think of the Cayman Islands, they likely think of wealthy offshore bank accounts, beaches, and luxurious resorts. But the Cayman Islands Department of Tourism says the destination also has some of the Caribbean’s best restaurants and most delicious recipes — something it’s capitalizing on in a […]

United States: Chapter 15 Inapplicable Unless “Foreign Representative” Seeks Enforcement Of Foreign Insolvency Court’s Order

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Article by Timothy Hoffmann and Mark G. Douglas From Jones & Day Chapter 15 of the Bankruptcy Code offers an effective mechanism for U.S. courts to provide assistance to non-U.S. courts presiding over the insolvency proceedings of foreign debtors with assets located in the U.S. An important feature of chapter 15 is “comity,” the deference […]