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COVID-19 and facility agreements
Banking and Finance

COVID-19 and facility agreements

We are all aware of the worldwide personal, financial and economic impacts of COVID-19. If not already, COVID-19 consequences will extend to finance and security agreements and parties should consider how they may be affected and should begin considering how they can mitigate the impact. Most experts agree that a global recession is inevitable and may have a circular effect on finance: if businesses cannot afford to repay their loans, the banks will not lend; if the banks do not lend then many businesses will not have working capital to fund business operations, leading to their demise.
Overview of the Cyprus examinership regime
Banking and Finance

Overview of the Cyprus examinership regime

The near collapse of the Cyprus economy back in 2013 was the instigator for the introduction of a new generation of amendments into the Cyprus companies’ legislation (Cap. 113) providing for a new array of tools which could be utilised with the intention of protecting businesses and buttressing the economy from the then expected adverse consequences a potential depletion of liquidity brought about by the 2013 banking crisis could have on them. Those same tools stand now at the ready to be used by businesses to tackle the difficulties presented to them by the COVID-19 and the new ensuing global recession following in the pandemic’s wake.
The Funds Download: Episode two - A shadow over the global economy. What should I be thinking about now as the manager or an independent director of a Fund?

The Funds Download: Episode two - A shadow over the global economy. What should I be thinking about now as the manager or an independent director of a Fund?

In the second episode of our Funds Download series, host Phil Graham is joined by Co-Head of the Cayman Islands practice, Matt Taber, Global Head of Dispute Resolution, Phillip Kite and the Head of our Dispute Resolution practice in the Cayman Islands, Nick Hoffman, to relive the events of the financial crises of 2008/2009 and examine what valuable lessons were learnt by the funds industry as a result.
UK Bank Ring-Fencing Transfer Schemes: A BVI Perspective
Banking and Finance

UK Bank Ring-Fencing Transfer Schemes: A BVI Perspective

The 2007/2008 financial crisis revealed a variety of substantial weaknesses in several areas of the world’s financial system. The impact of these weaknesses led to the implementation of various reforms to bolster the system to ensure that it was better equipped to survive future economic downturns.
A summary of the BVI’s sanctions regime
Regulatory and Tax

A summary of the BVI’s sanctions regime

This guide provides an overview of what sanctions are, why financial sanctions are used, who is subject to financial sanctions, and how subjects can remain compliant with any sanctions regimes that are extended to the BVI.