Category Archives: Client Advisories

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.

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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.

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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.

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Change in Beneficial Ownership Definitions: Cayman Islands

08 May 2020

The requirements for filing of beneficial ownership information for Cayman Islands companies will change with effect from 15 May 2020 in two respects due to international requirements.  These changes are expected to affect a relatively small number of companies.

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