In 2019 the Health Care Decisions Act was implemented in the Cayman Islands. This law allows individuals to determine their wishes surrounding medical care and treatment, including end-of-life care, should they become mentally incompetent, and prepare a legal document to this effect. The legal document (known as an 'advance healthcare directive') outlines preferred medical treatments and procedures, such as life support and resuscitation.
This article looks at key trends in offshore dispute resolution, including the major developments in the Cayman market in 2020 and how the COVID-19 pandemic has affected court timetables for disputes work. It also looks at opportunities in the market around assets which have been devalued as a result of the COVID-19-induced economic downturn.
Parliament has passed temporary legislation which facilitates the signing of certain documents by removing the requirement that a witness be in the immediate physical presence of the person signing. This step, which follows previous regulations introduced in April 2020 to allow remote notarisation, seeks to address the challenges associated with social distancing and other measures arising from the COVID-19 pandemic.
Parliament recently passed the landmark Private Funding of Legal Services Act. The act will give litigants greater access to justice and a wider range of funding options enabling parties to enter into agreements with funders and attorneys on negotiated terms that they consider attractive without the need for court approval (other than in cases involving the statutorily prescribed exceptions).
Canada is a thriving market for Cayman private wealth services, with the Cayman Islands' full package of wealth structuring and lifestyle factors attracting growing numbers of high-value residents from the north. With direct flights from Toronto, the Cayman Islands are historically known to be a first-class destination for Canadian high-net-worth individuals, who have some familiarity with the Cayman Islands as a British overseas territory and fellow member of the British Commonwealth.