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Welcome to our media pages which contain client advisories, articles, press releases and details about upcoming events.

BVI Commercial Court Decision Serves as Bold Reminder of Duties of Full and Frank Disclosure on Ex Parte Applications

22 May 2019
On 9 May 2019, The Honourable Mr Justice Adrian Jack QC (Ag) delivered an oral Judgment in BVI proceedings in the Abyzov/Vekselberg-related litigation. Campbells acts for an independent Cypriot group of parties previously joined as defendants to the Third Ancillary Claim. One of Campbells’ clients, ABC Grandeservus Limited (“ABC”) applied seeking to set aside an Order purportedly made and steps taken by Emmerson International Corporation (“Emmerson”) as a result of an ex parte hearing and Order on 31 December 2018 (the “New Year’s Eve Application”).

Economic Substance Requirements in the Cayman Islands

02 Apr 2019
As a result of the OECD’S global Base Erosion and Profit Shifting (“BEPS”) initiative and the EU Code of Conduct Group substance requirements modelled on BEPS Action 5, the Cayman Islands has enacted The International Tax Co-operation (Economic Substance) Law, 2018 (the “ES Law”) and issued related Regulations and Guidance Notes.  Similar legislation has been introduced in numerous jurisdictions, including the Channel Islands and the British Virgin Islands.

Cayman Grand Court refuses to enforce foreign arbitral award in favour of Brazilian airline

25 Mar 2019
The 19 February 2019 judgment of the Grand Court of the Cayman Islands in VRG Linhas Aereas S.A. v Matlin Patterson Global Opportunities Partners (Cayman) II L.P. & Ors is a rare example of the Grand Court refusing to enforce a foreign arbitral award, here on the grounds that the defendants were not parties to the arbitration agreement pursuant to which the award was rendered and that, even if they were, the award went beyond the scope of the arbitration agreement such that its enforcement would be contrary to the principles of natural justice and public policy.