Forbes Hare Client Update

Forbes Hare Legal Update Summer 2015 There have been a number of recent developments in the offshore Caribbean. This update covers some of the more important changes and developments in the law, with some commentary. The British Virgin Islands has seen new legislation coming into force and a new judge for the Commercial Court following…

Retention of Records – clarification for BVI companies and extension to BVI trusts and all BVI partnerships

Retention of Records – clarification for BVI companies and extension to BVI trusts and all BVI partnerships This year we have seen the enactment of the Trustee (Amendment) Act 2015, the Partnership Amendment Act 2015 and the Mutual Legal Assistance (Amendment) Act 2015 relating to the retention of certain records and documents by such entities,…

When does a redemption occur?

The status of redeeming members from a fund can be very important in the event of a fund going into liquidation. Those who have redeemed their shares, but not yet received payment, will outrank continuing members when it comes to distribution of the net assets of the estate (Somers Dublin v Monarch Pointe (HCVAP 2011/040, 11…