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Private Client & Offshore Services

27 February 2020
Eamon Harrison Courtenay International arbitration: local court developments

Belize - Courtenay Coye LLP

Arbitration in Belize is governed by the Arbitration Act. As the act was last amended in 1980 (1980 Ordinance), it has become somewhat outdated. However, the 1980 Ordinance assisted in Belize's assimilation of a modern arbitration enforcement regime by incorporating the New York Convention into domestic law. This article looks at recent arbitration developments in the local courts, including cases concerning qualifications of or challenges to arbitrators and investor-state disputes.

Authors: Eamon Harrison Courtenay, Stacey N Castillo
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Margarita Sofokleous Benefits of Cyprus international trust regime

Cyprus - A G Paphitis & Co

The Cyprus International Trusts Law is one of the world's most attractive legal frameworks, as it builds on the well-established English principles of equity and trusts. Under this framework, Cyprus international trusts can be created in most complex situations and enjoy many advantages that cannot be found in aggregate in other trust jurisdictions.

Author: Margarita Sofokleous
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Chris Hards Avoiding trust litigation in divorce proceedings

Guernsey - Ogier

When considering a trust structure for the express purpose of asset protection within family succession planning, the prospect of divorce is never far from the settlor's or draftsperson's mind. Divorce is a costly undertaking and never more so than when consideration must be given to offshore trust assets and the role of a trustee. Combined with the additional possibility of a successful claim against trust property, the cost has the potential to wipe out the anticipated benefit to future generations.

Author: Chris Hards
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Pedro Cortés Is 2019 novel coronavirus case of force majeure under Macau law?

Macau - Rato, Ling, Lei & Cortés Advogados

Although Macau has largely been spared the human toll of the 2019 novel coronavirus, the region's economy will suffer greatly in the short term. The unpredictable nature of the outbreak and the important human and economic costs deriving therefrom have led to inevitable questions, such as what kind of legal consequences can this virus entail? Further, if the severe economic downturn affects the fulfilment of contracts, could this be a case of force majeure, and could contracts be rescinded on this basis?

Authors: Pedro Cortés, José Filipe Salreta
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Rupert Mead Inheritance tax reform: APPG proposal paper

United Kingdom - Forsters LLP

The All-Party Parliamentary Group for Inheritance and Intergenerational Fairness has published a paper proposing a complete overhaul of the existing UK inheritance tax rules. The paper makes thought-provoking suggestions, and it will be interesting to see whether any of the group's ideas appear in government policy or lead to a consultation in the future.

Authors: Rupert Mead, Nicole Aubin-Parvu
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Recent updates

Eamon Harrison Courtenay International arbitration: key legislative developments

Belize - Courtenay Coye LLP

Authors: Eamon Harrison Courtenay, Stacey N Castillo
Jennie Cherry Preparing US tax and information returns: Forms 3520 and 3520-A

USA - Kozusko Harris Duncan

Author: Jennie Cherry
Mary V Ward Blockchain and cryptocurrency regulation 2020

Bermuda - Carey Olsen Bermuda

Author: Mary V Ward
Pedro Cortés Macau responds to regulatory trends with new Cybersecurity Law

Macau - Rato, Ling, Lei & Cortés Advogados

Authors: Pedro Cortés, Luís Machado
Alex Horsbrugh-Porter 2020 heralds insolvency law changes

Guernsey - Ogier

Author: Alex Horsbrugh-Porter
Joanne Huckle New registration requirements for unregulated investment funds

Cayman Islands - Ogier

Authors: Joanne Huckle, Nick Rogers, Giorgio Subiotto, Justin Savage
Chelon Carr-Newbold Special tax relief for Abaco and Grand Bahama

Bahamas - Lennox Paton

Author: Chelon Carr-Newbold
Damian Evans Jersey Royal Court declares trustee's exercise of power void

Jersey - Ogier

Authors: Damian Evans, Matthew Davies