September 16, 2019

Cayman Islands Grand Court refuses to enforce Foreign Arbitral Award in favour of Brazilian Airline

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Article by Jeremy Durston and Andrew Pullinger Campbells From Mondaq The 19 February 2019 judgment of the Grand Court of the Cayman Islands in VRG Linhas Aereas S.A. v Matlin Patterson Global Opportunities Partners (Cayman) II L.P. & Ors is a rare example of the Grand Court refusing to enforce a foreign arbitral award, here on the grounds that […]

Cayman Islands: The use of Cayman Islands structures in Islamic finance

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By Jonathan Caulton, Maples and Calder From Mondaq Expertise in the ever-growing Islamic finance market Maples and Calder’s Islamic finance team has been involved in many of the most innovative Islamic finance transactions, including the largest Sukuk issuance to date, the first Sukuk issuance in the UK, the first Sukuk to be listed on the […]

Cayman Islands’ new Foundation Company offers innovative, flexible and unique alternative

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From Ogier Cayman’s first of its kind hybrid Foundation Company is likely to appeal as a holding vehicle, SPV and succession planning option, says Ogier trusts partner Anthony Partridge. Anthony says that the new structure – introduced by the enactment of the Cayman Islands Foundation Companies Law, 2017 – retains features of companies, and of […]

Cayman Islands: Sustainability 0f Offshore: Using Cayman for investment into Africa

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Article by Lisa Akiri, Harneys From Mondaq The use of offshore is an integral part of African financing. Offshore vehicles are used for a variety of structures including bond issuances, listing, loan financing, JVs and PE structures. Investors in and out of Africa have an appetite for using offshore in various transactions because they understand […]

Donahue’s Alix Gets $6.7M contract extension

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BY PHILIPE SCHOENE ROURA AND EVA LLORENS VÉLEZ From Caribbean Business SAN JUAN – On the heels of what was described as a rather drawn-out meeting punctuated by several sticking points, the Puerto Rico Electric Authority’s (Prepa) board voted to extend the contract of AlixPartners, headed by Lisa Donahue, to the tune of $6.713 million. The […]

Why this subprime lender funds loans through the Cayman Islands

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By Kadhim Shubber From FT Alphaville Elevate Credit calls its customers in the US and the UK the “New Middle Class”, selling them loans in the latter at a representative APR of 1295 per cent. It is gearing up to float in New York this week and, if successful, the Texas-based business will be the […]

Lateral Thinking: Cayman Islands SPVs Tax Resident in Ireland

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By Dale Crowley, Wanda Ebanks, Nollaig Murphy, Andrew Quinn, Mark Western From Maples, Cayman Islands, Dublin Cayman Islands and Irish off balance sheet and on balance sheet special purpose vehicles (“SPVs”) are often used in aircraft financings. The SPV’s role in the transaction is normally to act either as an owner or as an intermediate […]

The Insurance and Reinsurance Law Review, 2nd Ed.: Cayman Islands

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By Tim Frawley and John Dykstra 1 This article first appeared in the second edition of The Insurance and Reinsurance Law Review, published by Law Business Research Ltd. Tim Frawley and John Dykstra provide an analysis of insurance and reinsurance law in the Cayman Islands. Their contribution formed part of the second edition of The […]

Structured Finance – Why Cayman?

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Article by Alasdair Robertson and Nicola Bashforth From Maples and Calder Cayman SPVs The Cayman Islands is one of the leading jurisdictions in which to establish special purpose vehicles (SPVs) used for securitisation and other structured-finance transactions. A structured-finance transaction involves the transfer of underlying assets to the SPV. The SPV funds that acquisition by […]