Further to our previous advisories, we are pleased to announce
that the much anticipated Limited Liability Companies Law, 2016
will come into force on Wednesday 13 July 2016 as the Cayman
Islands Government gazetted the commencement order for the LLC Law
last Friday 8 July 2016.
The Limited Liability Company (the
"LLC") will offer Cayman Islands
financial services clients additional choices and
flexibility. We expect that an LLC will be of particular
interest to private equity clients looking for a Cayman
Islands general partner or carry vehicle, joint venture companies
(to avoid the need for separate articles of association and
shareholder agreements), private family offices and companies (in
place of trusts) or clients looking for SPVs, holding or operating
companies. In addition, we have had interest from
various clients in the shipping industry to hedge fund managers and
clients with structures that typically use Delaware LLCs.
Campbells is proud to have been integrally involved in the
development of the LLC Law, through its participation in
the legislative sub-committee tasked with reviewing the LLC
Law on behalf of the industry and as such is able to advise
immediately on the use of LLCs.
Our briefing paper as to the LLC Law may be found
However, specific legal advice should always be sought whether
an LLC is helpful in a particular situation.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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