Legal Insights

The BVI’s Securities and Investment Business (Incubator and Approved Funds) Regulations, 2015 (the “Regulations”) introduced the “Incubator Fund” which provides a streamlined basis for start-up investment managers to establish a track record of managing funds with an open-ended strategy. The Incubator Fund regime under the Regulations does not…

What are the key laws and other sets of rules that govern Cayman Islands’ investment funds? Open-ended funds The Mutual Funds Law (for open-ended funds) and the Private Funds Law (for closed-ended funds) are the two main statutes relevant to the regulation of investment funds in the Cayman…

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

The privatization of Chinese businesses incorporated in the Cayman Islands that are listed on the NASDAQ Stock Market (“NASDAQ”) or the New York Stock Exchange (“NYSE”) has continued to surge throughout the Covid-19 pandemic and there are currently no signs of a slowdown. For example, JOYY’s two largest…

The Grand Court in the Cayman Islands recently confirmed the appropriate insolvency test to be applied pursuant to section 224 of the Companies Act (2021 Revision) (“Companies Act”) in respect of a Cayman Islands segregated portfolio company (“SPC”), in a judgment delivered in respect of Obelisk Global Fund…

Robert Farrell is a Partner in the firm’s Corporate, Finance and Investment Funds Groups in the Cayman Islands practicing British Virgin Islands (“BVI”) and Cayman Islands law. We have invited him to provide some background to himself, his practice, and his insight on recent market developments and trends in the legal market.

Last year saw an explosion of special purpose acquisition companies (SPACs) in the US, largely driven by favourable economic returns to SPAC IPO sponsors, liquidity, and pricing certainty offered by SPACs to target companies and investors. The extended low interest rate environment and the speed to market that…

The Cayman Islands Monetary Authority (“CIMA”) in December 2020 published its preliminary findings from on-site inspections (“Inspections”) conducted of Registered Persons (“RPs”) as defined pursuant to schedule 4 and section 5(4) of the Securities Investment Business Act (“SIBA”). RPs cover Cayman Investment Advisors, Investment Managers, Securities Brokers, Deal…