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18 January 2019

Urban Development and Building Heights – New Guidelines

Against a backdrop of a housing shortage and a homeless crisis, legislative steps have been taken to permit the construction of high-density residential accommodation in urban areas. On 7 December...

16 January 2019

International Tax-Co-operation (Economic Substance) Law, 2018

Continuing its ongoing commitment to the development and maintenance of the very highest standards of economic and financial propriety, new legislation has been published by the Cayman Islands Government that...

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17 January 2019

Walkers Acts on Parkland's $1.21 Billion Acquisition of SOL

Walkers is pleased to have acted as Cayman Islands, British Virgin Islands ("BVI") and Bermuda* counsel to Parkland Fuel Corporation ("Parkland") on their acquisition of 75% of SOL Investments Limited...

20 December 2018

Primeo就大法院驳回其20亿美元的管理人和托管人申索提出上诉

2017年8月,经过近4个月的审判,大法院針對Primeo Fund(法定清算中)(“Primeo”)对分別担任Primeo的管理人和托管人的Bank of Bermuda (Cayman) Limited(“BoBC”)以及HSBC Securities Services (Luxembourg) S.A.(“HSSL”)提出的诉讼作出判决。该申索要求BoBC和HSSL(统称“被告人”)赔偿约20亿美元,因彼等作为该基金的专业服务提供商涉嫌失職,致使该基金在不知情的情况下投资Bernard Madoff的庞氏骗局。在法官Jones QC退休前作出的最终判决中,他发现HSSL对其子托管人Bernard L Madoff Investment Securities LLC(“BLMIS”)的故意违约负有责任,并且自2005年5月以来,BoBC因完全依赖BLMIS的资料来计算Primeo的资产净值而存在重大过失。然而,法官最终驳回Primeo的申索,理由是Primeo“在很大程度上是咎由自取”,并且未能建立此类行为或不作为与其声称遭遇损失之间的相关因果关系。申索的某些因素也被认为失去时效而失败告终,并且违反了不能就反射损失申索的原则。Primeo对判决提出上诉,而被告人随即发出通知,称判决应基于其他理由以及彼等对法官关于HSSL托管索赔和BoBC管理索赔所作之判决的交叉上诉予以肯定。开曼群岛上诉法院(“CICA”)最近在2018年12月7日结束为期两周的上诉聆讯。在许多不同的司法管辖区,各种所谓的Madoff支线基金仍然存在一些针对其前管理人和托管人(其中许多是BoBC和HSSL的相关实体)的持续申索。其中一项此类索赔在反射损失问题的判决上发挥了核心作用,它是由Herald Fund SPC(法定清算中)(“Herald”)在卢森堡提出的申索*。该上诉涉及若干重要法律原则(包括适当应用反射损失原则)。预计CICA将在2019年上半年宣布判决。* 汇嘉代表Herald的主要清算人和附加清算人行事