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Private Client & Offshore Services

19 November 2020
Marc Kish Snapshot: determining whether a petition debt is disputed on substantial grounds

Cayman Islands - Ogier

It is trite law that where a petition debt is disputed in good faith and on substantial grounds, the Grant Court's ordinary practice is to dismiss or strike out the winding-up petition. However, this principle is more easily applied in theory than in practice, resulting in a remarkable amount of case law. That body of case law has been swelled in 2020 by a number of Grand Court decisions which provide further guidance as to whether a petition debt is to be considered genuinely disputed on substantial grounds.

Authors: Marc Kish, Gemma Lardner, Jeremy Snead
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Charles Le Maistre Lockdown fails to dampen buoyant property market

Jersey - Ogier

The start of lockdown initiated a significant slowdown in the property market in early Spring 2020. Reassuringly, as Jersey came out of lockdown, there was an exponential increase in property transactions, which peaked in August 2020. If the rapid resurgence of the market seen in the summer is anything to go by, any reduction in transactions over the winter months which is beyond the seasonal norm may lead to a similar increase in activity and competition next spring.

Author: Charles Le Maistre
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Robert Payne Anti-money laundering rules: impact on art market

United Kingdom - Forsters LLP

The EU Fifth Anti-money Laundering Directive was enacted into UK law with effect from 10 January 2020. It requires art businesses to implement systems intended to prevent their potential use in money laundering or for various other offences. The rules apply to those trading, storing or acting as intermediaries in works of art, where the value involved is more than €10,000. This is a significant extension to the existing rules.

Authors: Robert Payne, Rebecca Welman
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Recent updates

Julia Ramsden Gunduz Implementation of new TRS rules

United Kingdom - Forsters LLP

Authors: Julia Ramsden Gunduz, Robert Payne
Rachel DeSanges Expanded powers for Employment and Discrimination Tribunal

Guernsey - Ogier

Authors: Rachel DeSanges, Nathalie Le Cuirot, Robert Clacy
Dave Sherwin Termination of Cayman vehicles – advance planning to minimise 2021 fees

Cayman Islands - Ogier

Authors: Dave Sherwin, Ridhiima Kapoor
Evripidis Michaelides Does Cyprus law allow wills to be signed electronically?

Cyprus - A G Paphitis & Co

Author: Evripidis Michaelides
Radhika Gaggar To be or not to be (a trustee)?

India - Cyril Amarchand Mangaldas

Authors: Radhika Gaggar, Shaishavi Kadakia
Laura Shirreffs COVID-19 and residential tenancies: where are we now?

Jersey - Ogier

Author: Laura Shirreffs