The expropriation and nationalisation of the Half Moon Bay
Resort and other interests of American, Canadian and British
nationals by the Government of Antigua and Barbuda has been the
subject of numerous articles and debates.
A Privy Council decision handed down on 5 June 2007
sanctioned this exercise of eminent domain, provided the
Government paid fair and adequate compensation to the owners
for their property purchased in a private transaction,
developed and held for over thirty five years.
This now poses problems for the Government of Antigua &
Barbuda, since it had never offered to buy the U.S....
Specific Questions relating to this article should be addressed directly to the author.
Two steps forward, two steps back. Italy has been shaking it all about so far this year. And after all that effort, by June 21st the Italian tax police were virtually back where they started the year.
The uncertain economic times recently faced by the industry together with the increasingly safety- and security-sensitive environment have had one undeniable effect on owners choosing a jurisdiction for registering their superyacht and this is the instilment of a greater awareness and sensitivity to the advantages that may be offered by a particular flag.
Fraud and insolvency can be vexing. However, there are a number
of tools available to an insolvency professional who is faced with
an insolvent estate that has been made the victim of grand
malfeasance or fraud.
Current and feared future changes to UK tax have seen an increasing number of High Net Wealth (HNW) individuals look to relocate to the Crown Dependencies of Guernsey, Isle of Man and Jersey (‘the Islands’), as well as other more tax-favourable territories around the world.
The Queensland Supreme Court has held the ancient maritime rule apportioning liability 50/50 regardless of respective fault, when two ships collide, no longer prevails. Instead, liability is apportioned according to each helmsman’s respective fault.
Traditionally, the view has been that the right to set off one debt against another does not constitute a security interest but it may be that this position is no longer as clear cut in light of the recent Canadian Supreme Court ruling in Caisse populaire Desjardins de l’Est de Drummond v. Canada, 2009 SCC 29 ("Caisse populaire")
In March of this year, Friary Court Insurance PCC (Friary Court), the ex-Heath Lambert-owned cell captive facility which was acquired by Heritage Group as part of the acquisition of Heath Lambert’s captive management operations, was amalgamated with Heritage’s Harlequin Insurance PCC (Harlequin).
Last month I looked at some of the reasons why property prices in offshore jurisdictions such as Gibraltar are holding steady, while those across the border in Spain are heading south.
