Unravelling
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Unravelling Complexity

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The British Virgin Islands’ fintech revolution
Investment Funds

The British Virgin Islands’ fintech revolution

The BVI is reportedly the second biggest cryptocurrency market in the world, according to statistics published by CoinShares, which used data collected from the 15 biggest cryptocurrency exchanges and concluded that the BVI had a trading volume in crypto assets valued at USD78.5 billion, in the first six months of 2018. This puts it just USD5.3 billion behind the USA. We also noted in a recent PwC report that two of the three largest Initial Coin Offerings (ICOs) have also been domiciled in the BVI.
Recent Uncertainty Concerning The UK's Proper Purpose Rule
Litigation, Insolvency and Restructuring

Recent Uncertainty Concerning The UK's Proper Purpose Rule

In recent years, where take-private transactions and corporate restructurings have become increasingly common, the actions of directors have come under scrutiny as they push the boundaries of the proper purpose rule. Nick Hoffman and Conal Keane examine the differing powers, and the remedies available to shareholders who object to a proposed course of action by the directors in this article originally published by Law 360.
Act now – Don’t get struck-off
Corporate

Act now – Don’t get struck-off

Following recent changes to BVI legislation, companies in the British Virgin Islands risk being struck-off by the registrar for not filing particulars of their directors.
The Restructuring Review: Cayman Islands
Litigation, Insolvency and Restructuring

The Restructuring Review: Cayman Islands

Harneys lawyers contributed the Cayman Islands chapter in the Eleventh Edition of The Restructuring Review. The chapter gives an overview of restructuring and insolvency activities as well as a general introduction to the restructuring and insolvency legal framework in Cayman. It sets out significant transactions, addresses international issues in cross-border cases, and looks at future developments for the jurisdiction. The Restructuring Review is published by The Law Reviews.
The Restructuring Review: British Virgin Islands
Litigation, Insolvency and Restructuring

The Restructuring Review: British Virgin Islands

Harneys lawyers contributed the British Virgin Islands chapter in the Eleventh Edition of The Restructuring Review. The chapter gives an overview of restructuring and insolvency activities as well as a general introduction to the restructuring and insolvency legal framework in the BVI. It sets out recent legal developments, addresses international issues in cross-border cases, and looks at future developments for the jurisdiction. The Restructuring Review is published by The Law Reviews.
Cayman Islands: AML Officers
Investment Funds

Cayman Islands: AML Officers

The Cayman Islands Monetary Authority (CIMA) announced on 24 September that grace period extensions had been given for the appointment and notification of the appointment of anti-money laundering compliance officers, money laundering reporting officers and deputy money laundering reporting officers (AML Officers) for investment funds.