Legal Insights

Can the Shares of a Cayman Islands Company be Pledged as Security? It is not possible to “pledge” registered shares under Cayman Islands law because title to the shares cannot be transferred by physical delivery. Any grant of security over registered shares that is called a “pledge” will…

Regulation of crypto exchanges and other crypto services in the Cayman Islands The Virtual Asset (Service Providers) Act, 2020 (VASP Act) as amended, provides a legislative framework for the conduct of virtual assets busi¬ness in the Cayman Islands, and the registration and licensing of persons providing virtual asset…

In the prevailing economic conditions shareholders in offshore companies registered in the Cayman Islands (“Cayman”) or the British Virgin Islands (“BVI”), including companies which carry on business as investment funds, are increasingly being forced to consider their rights against directors who may have been responsible for mismanagement of…

In August 2022, the Cayman Islands introduced the restructuring officer regime (the “Regime”) by amending the Cayman Islands Companies Act (the “Act”). Please see our previous briefings on this subject here. By way of summary, the Regime permits the presentation of a petition by a company for the…

By way of an update on our recent publication (which can be found here) that the Financial Action Task Force (FATF) had determined that the Cayman Islands has substantively fulfilled its action plan, and following completion of a recent on-site visit by the FATF, the Cayman Islands has…

In The Matter of Padma Fund L.P. [FSD 201 of 2021] (RJP), the Cayman Grand Court held that the Cayman Court does not have jurisdiction to order the winding up of a Cayman exempted limited partnership (“ELP”) on the basis of a creditor’s petition for the winding up…

The Cayman Islands Monetary Authority (“CIMA”) published a new Rule – Corporate Governance for Regulated Entities (“Rule”) and a new Statement of Guidance relating to Corporate Governance – Mutual Funds and Private Funds (“Statement of Guidance”) on 14 April 2023. In essence, both the Rule and the Statement…

This article will provide a general overview of the steps involved in the formation and running of a closed-ended investment fund in the Cayman Islands pursuant to the Private Funds Act (As Revised) (the “Act”).