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16 Nov 2017
In a recent decision on an examinership petition, the Court of Appeal addressed a secured creditor's arguments regarding a pre-existing settlement agreement and regarding the petitioners' (alleged) motives for presenting the petition.
7 Nov 2017
The Minister for State at the Department of Business, Enterprise and Innovation signed into law the Sectoral Employment Order for the Construction Industry ("the SEO") on 19 October 2017.
This update covers the effects of SEO, and assesses whether or not contractors can recoup the increased rates implemented by the SEO from their employers under the public works contract.
3 Nov 2017
The Anti-Money Laundering Regulations, 2017 ("AML Regulations") were gazetted on 20 September 2017 and came into force on 2 October 2017. The AML Regulations bring about many significant changes to Cayman's anti-money laundering and combating of terrorist financing regime to align it more closely to the FATF Recommendations and global practice.
Perhaps the most important effect is that the AML Regulations now apply to a wider range of Cayman Islands entities, including unregulated investment entities; e.g. private equity or closed-ended investment funds and structured finance vehicles that are not registered with the Cayman Islands Monetary Authority, and investment related insurance entities.
25 Oct 2017
Maples and Calder's latest edition of our Funds Update - Ireland, a quarterly summary of Irish legal & regulatory, tax and listing developments in recent months.
19 Oct 2017
The Cayman Islands Foundation Companies Law (the "Law"), which was enacted earlier this year subject to a commencement order, has now been brought fully into effect. Foundation companies may therefore be incorporated in the Cayman Islands with effect from 19 October 2017.