In the course of international litigation a party seeks to depose a future witness of fact using powers available to that litigant under the laws of another jurisdiction or under powers of the domestic court.
A recent decision by the Cayman Islands Grand Court (In Re Freerider Ltd, judgment dated 13 May 2010) has provided useful guidance on "loss of substratum", one of the bases which justifies a winding-up on the just and equitable ground.
There has been significant discourse over the past eighteen months in response to the recent economic crisis on the need for increased governmental regulation for the hedge funds industry.
The Guernsey Financial Services Commission, the Island's financial services regulator, issued Guernsey's domestic Alternative Investment Fund Managers Directive marketing rules, together with a notification form, and have confirmed they are able to accept applications prior to 22 July 2013.
The Alternative Investment Fund Managers Directive will come into effect in July 2013, creating a single regime for the industry across Europe.
As the West increasingly looks to the Mena region, Fiona Le Poidevin, of Guernsey Finance, discusses what the West has to offer – in the form of the well-established and successful fund destination of Guernsey.
Gavin Ferguson and Siena Gold of Appleby explore how the proposed Guernsey foundation can form part of a larger wealth management structure to help the Island target different markets.
A delegation of Guernsey practitioners is heading across the Atlantic to promote the Island as a major centre for investment funds business.
Bedell Cristin in Guernsey has recently advised on a groundbreaking CAT bond transfer.
India’s economy is expected to expand by 8.5% this year, according to Morgan Stanley and, while China’s economy is four times bigger at the moment, India’s growth rate could overtake China’s by 2013 if not before.
Guernsey has signed further bilateral Tax Information Exchange Agreements (TIEAs) with Canada and Romania, taking the total number of TIEAs signed by the Island to 21.
This is an era of unprecedented international pressure towards a global order and towards the domination of the regulation of financial services by major economies and trading blocks.
Guernsey, along with Jersey and the Isle of Man, is currently under pressure from the European Union to change what certain member states consider to be an unacceptable corporate tax regime.
A new film fund launched by a local investment manager is believed to be the first investment fund established in Guernsey to specifically invest in film production, marketing and distribution.
During this last year the world has been picking itself up off the floor of the global financial downturn. We have seen the start of renewed confidence in the markets, but really this is just the start of a trip down what will be a very long road to recovery and at the moment I would gauge that the general economic conditions remain fragile and will remain so for some months to come.
The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.2%, which is a slight decrease from April's rate of 1.4% but remains the same as May's rate of 1.2%.
As part of our ongoing efforts to keep wealth management professionals informed of recent developments related to our practice area, we have summarized below some items we think would be of interest.
The ruling of the second US Circuit Court of Appeals in a recent case has resolved one particular uncertainty while retaining a versatile and open-ended approach to assessment of the criteria which govern Chapter 15 relief.
The Obama Administration has recently proposed ambitious spending and revenue changes, as it released its proposed budget for fiscal year 2014, and a number of proposed tax changes affecting estate planning have emerged.