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Legal Insights
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Insights | 19 August 2024
Unfair prejudice claims in the British Virgin Islands
All shareholders of a company incorporated in the British Virgin Islands (“BVI”) have certain rights and protections. However, the imbalance of voting powers within a company can result in the controlling majority conducting the affairs of the company in a manner that is prejudicial to the rights of…
Insights | 27 June 2024
Cayman Islands – A Limited Partner’s statutory right to information
Learn about a limited partner’s statutory right to information under the Cayman Islands Exempted Limited Partnership Act, including key legal cases that clarify the scope of this right and the extent to which limited partners can request financial and business information.
Insights | 11 June 2024
Company Restorations in the BVI
Amendments to the BVI Business Companies Act 2004 (the “BCA”) came into force on 1 January 2023 which changed the landscape for striking off, dissolving and subsequently restoring a British Virgin Islands (“BVI”) company to the Register of Companies (“Register”). This Briefing Note recaps the current position and…
Insights | 31 May 2024
Fireside chat with Edmond Fung
Fireside chat with Edmond Fung, Senior Legal Manager (pending registration as a Senior Associate with the Hong Kong Law Society) in Loeb Smith’s Hong Kong office advising on Litigation, Commercial Disputes and Insolvency in respect of British Virgin Islands law.
Insights | 22 February 2024
Legal Insight: Avoiding BVI law and Cayman Islands law pitfalls in banking & finance and corporate transactions
There are certain notorious pitfalls to avoid in the context of British Virgin Islands (“BVI”) and Cayman Islands banking & finance and corporate transactions. In this article, we examine five such pitfalls. While there are no “one size fits all” solutions to these issues, we set out some…
Insights | 29 January 2024
Pledge Shares
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…
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…
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…