Gary Smith

Partner

  • British Virgin Islands / Cayman Islands / Hong Kong
Gary Smith, Partner

Overview

Gary is a Partner in, and leads/coordinates, the firm’s Investment Funds Group. He worked as a Private Equity/M&A attorney in England for many years before moving to the Cayman Islands in 2009 to work as a Corporate/Investment Funds attorney.

Chambers & Partners Global has ranked Gary Smith in the top tiers of Investment Funds lawyers in the Cayman Islands and he is described by sources as: “a bright guy, a team player, and a hard worker” (Chambers 2014) and appreciated for maintaining “strong client-relationships and is highly regarded by sources in North America and Asia” (Chambers 2017). “his knowledge impresses me and his creativity is very good. He is also very patient and intelligent” (Chambers 2018)

Experience

Gary has the following experience and expertise:

  • Gary has given expert evidence in the United States Bankruptcy Court Southern District of New York in court proceedings before Judge Robert E. Gerber relating to Cayman investment funds. He has also authored a wide range of articles and other publications on Cayman Islands and BVI law matters, including: “Fund Management – Cayman Islands” published by Lexology, 2021/2022; “Investment Funds – Cayman Islands”, published in the PLC Cross-Border Investment Funds Handbook, 2012; “Cayman Islands’ Court of Appeal Re-affirms the Status of Segregated Portfolio Companies”, published in International Corporate Rescue Vol. 9 (2012) Issue 6; “Fiduciary duties of a general partner of a Cayman exempted limited partnership”, published in the PLC Global Guide for Private Equity and Venture Capital 2015/2016. In 2022, he is ranked in Asia Business Law Journal’s A-List of the top offshore lawyers. The list is based on extensive research conducted and nominations received from in-house counsel in Asia, and Asia-focused partners from domestic and international law firms. https://law.asia/the-a-list-top-offshore-lawyers-2022/
  • Gary’s practice focuses principally on offshore investment funds formation and launch, particularly hedge funds, private equity funds, and funds investing in blockchain technology. He also advises on M&A, corporate, corporate finance, and private equity investments. He provides Cayman Islands law and BVI law advice to companies, banks, investment fund managers, in-house counsel, onshore counsel, high net worth individuals, and insurance companies to deal with day-to-day legal issues and complex, strategic matters.

Articles Written by Gary

Crypto Regulation
INSIGHTS | 01 January 2024

Crypto Regulation

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…

Shareholder Disputes: A comparison between the Cayman Islands and the British Virgin Islands
INSIGHTS | 13 December 2023

Shareholder Disputes: A comparison between the Cayman Islands and the British Virgin Islands

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…

More thoughts on the ruling in The Matter of Padma Fund L.P. and potential impact
INSIGHTS | 05 August 2023

More thoughts on the ruling in The Matter of Padma Fund L.P. and potential impact

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…

BVI expands scope of its Anti-Money Laundering Regime to Virtual Asset Service Providers.
INSIGHTS | 23 September 2022

BVI expands scope of its Anti-Money Laundering Regime to Virtual Asset Service Providers.

The British Virgin Islands (“BVI”) has expanded the scope of its Anti-Money Laundering (“AML”), Counter Terrorist Financing (“CFT”) and Counter Proliferation Financing (“CPF”) laws to cover, among other things, virtual asset businesses. Under the BVI’s Anti-Money Laundering Regulations, in undertaking “relevant business”, a “relevant person” is not permitted…

Cayman Islands Court provides further guidance on the insolvency considerations for Segregated Portfolio Companies
INSIGHTS | 19 August 2022

Cayman Islands Court provides further guidance on the insolvency considerations for Segregated Portfolio Companies

The Grand Court of the Cayman Islands has recently offered additional, useful guidance in the growing jurisprudence on the insolvency of Segregated Portfolio Companies (“SPCs”). We have previously discussed the applicable test of insolvency that applies to the appointment of a receiver in respect of a segregated portfolio…

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