Category Archives: Client Advisories

Cayman Islands Virtual Assets Framework

13 Nov 2020

The Cayman Islands Government has announced that the Virtual Asset (Service Providers) Law, 2020 (the “VASP Law”) will come into force in two phases.

Phase one, commencing on 31 October 2020, will focus on anti-money laundering (AML) and countering the financing of terrorism (CFT) compliance, supervision and enforcement.

Phase two, which will include licensing requirements and prudential supervision, is expected to come into force in June 2021.


His Master’s Voice: The Privy Council clarifies the application of the doctrine of ostensible authority and the Duomatic principle

27 Aug 2020

The Duomatic principle concerns shareholders’ informal approval of a company’s actions.  Provided that the shareholders’ approval is unanimous and given with full knowledge of what they are approving, their informal assent to a course of action, whether given prospectively or retrospectively, will be as binding as a resolution passed at a general meeting.


Marex: UK Supreme Court Reflects on Loss

28 Jul 2020

In its long-awaited judgment in Sevilleja v Marex Financial Ltd [2020] UKSC 31, the UK Supreme Court has clarified the rule barring the recovery of reflective loss, which is likely to be of importance in most common law jurisdictions. The Court has narrowed the application of the rule to shareholders seeking to recover loss suffered in their capacity as shareholder.


Time to Make a BVI Will? Consequences of the Death of the Sole Shareholder of a BVI Company

19 Jun 2020

Dealing with shares in a company incorporated in the British Virgin Islands (“BVI”) following the death of the sole shareholder can be a complicated, costly and time consuming processes. To alleviate the difficulties that can arise, you or your client, may wish to consider making a BVI Will.

We summarise below the process by which shares in a BVI Company can transfer following the death of the sole shareholder.