COVID-19 - Insights on key offshore issues affecting clients
COVID-19 is above all a human and social crisis, requiring significant changes in the way we go about our daily lives. But the steps taken by governments around the world to control the spread of the virus have also triggered a global economic crisis. We are closely monitoring this rapidly evolving situation.
On this page we've pulled together our insights on some of the key offshore issues affecting our clients. If you need to find out more, or want to speak to a team member, please get in touch.
Latest Updates from our legal teams
Government measures in key jurisdictions 5th edition - BVI, Cayman, Guernsey & Jersey
Mourant experts have contributed to an international briefing triggered by legislative changes arising from the COVID-19 pandemic. Divided into country sections, it's easy to navigate, and contains updates on critical topics including company law, employment law and tax. You'll find the Mourant entries in the BVI, Cayman, Guernsey and Jersey sections in this 5th edition.
The impact of Coronavirus (COVID-19) has sparked uncertainty with completing complex cross border transactions. With containment measures, including quarantine and travel restrictions prevalent, clients with Jersey or Guernsey companies have been taking some practical measures to overcome barriers during these disrupted times.
With containment measures, including compulsory measures prohibiting gatherings and meetings of more than two persons (subject to maintaining social distancing) and travel restrictions, this guide sets out the practical considerations that Guernsey companies should consider when holding meetings of their shareholders and directors during these disrupted times.
Jersey's government has moved quickly to pass temporary, emergency legislation permitting the witnessing of Jersey wills by audio-visual link to ensure that people can continue to safely make Jersey wills during these unprecedented times.
Changes to Jersey court procedures in response to COVID-19
The Jersey courts have been swift to adapt to the COVID-19 pandemic and the subsequent challenges presented by social distancing requirements, and this action has enabled them to remain open and continue to operate. The courts have put various measures into place to facilitate the continuation of court proceedings during these times.
ICSA has issued practice guidelines for board members looking to hold virtual board meetings following the new working from home environment caused by the COVID-19 pandemic. In this update, we set out of the key points to consider.
The spread of COVID-19 has had a significant impact on the global economy. Our team is closely monitoring this rapidly evolving situation, offering guidance to help clients navigate the uncertainty, be informed of the latest developments and manage related opportunities and risks at this time. Many are well on their way and taking clear, transparent steps to navigate the current and potential impacts of COVID-19. This update details the measures put in place by the Guernsey Court to ensure civil litigation continues.
Our Hong Kong team recently hosted a webinar covering 'Debt Restructuring in the brave new COVID-19 credit crunched world: turnaround options onshore and offshore - a case study'. Our panelists - Partner Justine Lau, Alexander Tang, Senior Associate at Stephenson Harwood, Rosalie Lui, Partner at KPMG and Yuhan Shen, Of Counsel at King & Wood Mallesons, discussed trends in this market with a particular focus on restructuring opportunities involving Chinese companies and implications on enforcement, winding-up and insolvency from a cross-border perspective.
The current coronavirus (COVID-19) pandemic has given rise to a series of unique circumstances and challenges to society. The measures taken to minimise the impact of the virus, including quarantine requirements and restrictions on travel and social gatherings, have also given rise to both social and economic uncertainty. While the overall impact of COVID-19 is yet to be fully understood, this article provides a summary of general market observations on the funds market, as well as pragmatic considerations relevant to Cayman Islands fund managers.
The spread of COVID-19 has had a significant impact on the global economy. This update details the measures put in place by the Judicial Administration in the Cayman Islands following the decisive action being taken by the Cayman Islands Government. Following new regulations, the Cayman Islands Judicial Administration has implemented procedures to protect its employees and other court users, while continuing to provide vital access to the administration of justice.
COVID-19 has led to challenging times, and the world of business is asking itself tough questions. In this latest Blog post Geoff Cook considers how the world post-COVID-19 will undoubtedly be materially different, and considers the role that business plays to ensure a path to a new normal is carved out as swiftly as possible.
The Eastern Caribbean Supreme Court has issued COVID-19 Emergency Guidelines and a Practice Direction (No. 1 of 2020). The practice guidelines and Practice Direction put in place a number of measures to minimize the risks associated with the coronavirus (COVID-19) pandemic.
With coronavirus now dominating the global agenda for the foreseeable future, here is our next update for Channel Islands employers on the latest developments and questions we're facing.
We will be publishing regular updates but for any particular issues you are dealing with our employment team is available to help.
In this update, we look at some of the regulatory considerations for licensed financial services businesses (LFSBs) in the Channel Islands when responding to the COVID-19 outbreak. For further information please contact our financial services regulatory team.
The outbreak of COVID-19 and the phenomenal rate of its spread has given rise to a unique crisis. It provokes a wide range of commercial and contractual issues for businesses in Jersey and beyond.
The interpretation and construction of 'force majeure' clauses in Jersey law contracts is only one of these but a potentially very important one. Poorly advised businesses may find themselves taken advantage of.
The Guernsey International Business Association is the latest to release guidance for Guernsey companies relating to their obligations under the economic substance requirements during the worldwide and local spread of COVID-19.
As COVID-19 continues to spread, Channel Islands employers will be assessing how best to respond and plan appropriately to protect their employees as well as their businesses, customers and suppliers. Clear, transparent steps will be needed to cover the current and potential impacts of the global pandemic. In this update, we set out the key questions for employers to consider.
We are currently dealing with a number of client queries relating to current issues around travel and working restrictions arising from the Coronavirus crisis and, in particular, the ability to hold quorate board meetings.
The spread of Coronavirus (COVID-19) has had a significant impact on – and sparked uncertainty in – the global economy. With containment measures, including quarantine and travel restrictions increasingly prevalent, clients with Cayman Islands or British Virgin Islands (BVI) companies have been asking us how to overcome barriers to closing corporate transactions during these disrupted times.