05/11/2022
Tax Tribunal confirms documents sought by HMRC were legally privileged
This decision reinforces the position that communications between a lawyer and client will generally attract LPP.
Court Cases
05/11/2022
Cross-Claims and Applications for the Appointment of Liquidators
The Court of Appeal agreed with the Court below that the evidence did not establish any genuine or serious claim in conspiracy.
05/08/2022
The widening scope of the Quincecare Duty
The Philipp case provides an excellent opportunity for financial instructions to review and improve their APP fraud measures.
05/06/2022
Legal experts welcome Scottish courts’ new hybrid approach
At the Sheriff Appeal Court all procedural hearings, including permission hearings, will take place via WebEx or by written submissions.
05/04/2022
An 'Unprecedented' Just & Equitable Winding Up of a Solvent Cayman Islands' Captive - Re Virginia Solution SPC Ltd
The decision also comes at a time when the Grand Court’s Financial Services Division has seen a steady flow of Winding Up Petitions being filed which seek compulsory winding up on the just and equitable basis.
04/29/2022
‘No fault’ divorce – what you need to know
In this article we consider the introduction of ‘no fault’ divorce, the procedural changes and the importance of obtaining legal advice
04/28/2022
Four Charged In Connection With Multi-Billion Dollar Collapse Of Archegos Capital Management
Sung Kook (Bill) Hwang – the Founder and Head of Archegos – and Three Others Charged with Racketeering and Fraud Offenses Related to Market Manipulation Scheme
04/27/2022
Cayman Islands fund finance update: A potential respite from Padma?
The judgment also expressed the view that all legal proceedings against an ELP (i.e. not merely winding up petitions) must be brought against the general partner.
04/26/2022
Cayman Islands Court of Appeal clarifies test for security for costs in context of recovery claims by official liquidators against former management
The Court was satisfied that its conclusion "involves no element of prejudgment on the substantive issues raised in the proceedings" and overturned the decision on appeal.
04/22/2022
Risks in terminating IT contracts highlighted by exclusion clause ruling
Other financial losses could result from the loss of the bargain, according to the court, which cited potential costs associated with a re-procurement exercise as an example.
04/22/2022
Divorce: Who Gets the Dog?
'My husband has left and taken the dog and boy do I miss her …'
04/14/2022
Former top Swiss banker convicted for fraud
A second defendant, Beat Stocker, the former CEO of an IT service management company, was given a four-year prison sentence and a fine.
04/14/2022
Enforcing an arbitral award in Hong Kong
Under the domestic legal framework, Hong Kong SAR courts have continually demonstrated their support for arbitratio
04/12/2022
Mistake or conscious risk taking?
These cases taken together show that it will be a question of fact and degree whether the misappreciation of the degree of risk knowingly taken is so serious as to amount to a mistake and/or justify the Court withholding relief.
04/06/2022
Scottish court gives investigators ‘time and space’ in financial crime cases
TSB reported suspicious activity to the National Crime Agency (NCA), which refused to allow transactions on the account.
03/31/2022
Scottish court guides trustees on use of indemnity clauses in trust deeds
The trustee of the Plumbing and Mechanical Services (UK) Industry Pension Scheme had experienced difficulties in applying employer debt legislation laid out in section 75 of the Pensions Act 1995.
03/31/2022
Singapore court declines to set aside arbitral award on public policy grounds
The agreement obliged CHY to pay the put price to buy CIA’s put shares in CHZ.
03/30/2022
Court rejects fraud claim in connection with Porton Capital liquidation
The judge noted that the decision only concerned the “narrow issue” of the alleged fraud in relation to the liquidation and dissolution of the Porton companies.
03/28/2022
T-Bills Mutual Fund: Grand Court sanctions ground-breaking SEC resolution
The complaint stated that the two individuals, Ofer Abarbanel and Victor Chilelli, misappropriated investor funds by diverting these monies into shell companies in uncollateralized loan transactions in violation of the Fund's prospectus and in breach
03/25/2022
Standing in judicial review proceedings: no ‘carte blanche’ for public interest groups
Standing is concerned with who may bring a claim in judicial review and, for successive governments, it has been “ripe for review” for some time.