Legal saga ends in big payout

Alastair&Meg Privy Council (201x300).jpg(CNS Business): Alastair Paterson, who has fought a more than seven year legal battle as a result of what were found to be malicious and unjustified civil proceedings against him, has been awarded damages of CI$1.375 million. The payout for the Caymanian surveyor came in a landmark judgment that re-writes the law books and vindicates him after his professional reputation was damaged by the legal action brought against him by Cayman General Insurance (now Sagicor). The ruling is being described as a ground-breaking departure from a law that has stood for over 300 years and lifts the centuries old restriction that has stopped payoffs following malicious civil proceedings.

Planning offers free code training to stakeholders

(CNS Business): With the introduction of major code changes that will impact Cayman’s construction industry next year as the country moves from the 1999 Standard Building Code to the 2009 International Code Council (ICC) family of codes government officials are offering training to various private sector stakeholders.   The Department of Planning is training its own staff in advance of the transition but is inviting interested Code Officials, Architects, Engineers and Contractors to attend the introductory sessions free of charge. The training begins this week and will be facilitated by England Training Division a US based, ICC certified training consultancy.

Dart starts new office block

camana bay_0.JPG(CNS Business): Although government’s deal with the islands’ largest investor may have hit some serious stumbling blocks along the West Bay Road, Dart Realty (Cayman) Ltd is continuing on with its commercial development at Camana Bay. According to a news release, the firm is beginning work on an office and retail building, covering some 85,000 square feet, at 18 Forum Lane. Joining 94 Solaris Avenue, 69 Forum Lane and 89 Nexus Way, the new building will be the fourth commercial block in addition to the office space in the town centre, diverting more and more of Grand Cayman’s commerce away from George Town. While many welcome the continued growth of the planned mixed-use town, others have concerns that the development is undermining the importance of the islands' capital.

Local stuff stars in TV show

made in cayman (251x300).jpg(CNS Business): From rum to pepper jelly, sea salt to cigars, stuff that is actually produced in the Cayman Islands is about to become part of a new television documentary. The six-part series is the flagship programme of a new Cayman-based film production company, scheduled to air on Cayman27 later this year, in which local filmmakers have turned their cameras on local artisans. Although Cayman is often thought to have no manufacturing at all, 'Made in Cayman' tells a different story. Soap, beer and chocolate are just some of the products featuring in the programmes, which looks at cottage industries and local artisans that have come to mean big business for the producers and the islands.

Bank invites votes for favourite charities

(CNS Business): The Royal Bank of Canada is asking the community to stop by one of its branches this week to vote for their favourite charity because it plans to give away over $5,000. The bank said the charity with the most votes would receive a donation of $2,500, the second $1,000, and the third $500. Ballots will be available in branches from 10-14 June and the winner will be announced on Friday. Tracie Lee-Wah, Area Vice President, RBC Cayman, said giving back was important to the bank. “We encourage people to stop by and cast their ballot for their favourite organisation,” she said. Meanwhile, fifteen employees from the bank also raised $1,300 by selling green, reusable shopping bags outside local supermarkets on behalf of Cayman HospiceCare (CHC). and the bank added an additional $1,000.

Cleaning and industrial service 'relies' on cyber space

(CNS): Officials from one of Cayman’s best known cleaning companies said that the firm has a new website. After months of preparation and hard work Reliable Industries Ltd launched the site on Monday. Besides being an informative source Reliable said it has also incorporated a “Connect with Us” portal in which users can access and stay in contact through social media sites such as: LinkedIn, Google+, Facebook, Pinterest, and Youtube. Customers will also be able to make service enquiries on line that will be answered within 48 hours.

Kai PAD gets mixed reaction

(CNS Business): The proposal for a major mixed-use development in Cayman Kai is receiving a mixed response, with some welcoming the potential economic stimulus to the area while others are concerned about the environmental and social impact such a major project will have on the tranquil community. The planning department is currently considering the Planned Area Development (PAD) for an entire new town on a 50-acre site, which would be developed over the next decade in the Rum Point Drive area on the sleepy north coast of Grand Cayman. While the local MLA, Ezzard Miller, and other North Side residents have welcomed the proposal, some residents in Cayman Kai are objecting to it.

JA student participation doubles

(CNS Business): The number of students that participated in this year’s Junior Achievement project was more than double that in the previous year ,as the initiative gains in popularity with students and Cayman’s corporate sponsors. At the recent awards ceremony to honour the group of over 300 local students who participated in this year’s programme, Paul Byles, President of the local JA, said this past year was a huge success because of the growth in student participation. Junior Achievers are required to establish and run their own company under the watchful eye of volunteers from the business community, who offer guidance for the young people as they embark and continue on their corporate journey.

CUC raises cash through unsecured notes in US

(CNS Business): Grand Cayman’s power firm, Caribbean Utilities Company, has announced the closing of a US$50 million private placement of US$10 million 3.34% Senior Unsecured Notes due 30 May 2028  and US$40 million 3.54% Senior Unsecured Notes due 30 May 2033.  The debt offering was privately placed with institutional investors in the United States with JP Morgan Securities LLC acting as placement agent. Proceeds from the offering will be used to repay short-term indebtedness and for general corporate purposes, including capital expenditures, the company said in a release last week.

Marketing firm starts work on latest omnibus survey

(CNS Business): While marketing surveys that help profile the business landscape are common in most major economies, here in Cayman statistics about the local commercial community and shopping habits tend to be thin on the ground. However, over the last 11 years local firm Tower Marketing has been taking a snapshot of the business community and its consumers with its Omnibus Survey, the only local market research tool that offers a national insight into factors that define the shape the local business landscape. The telephone survey asks over 500 randomly selected people 30 core questions about demographics, their spending habits and consumer behaviour.

Ostrich farm coming to CI

beach ostrich.jpg(CNS Business): A Canadian expert and his local partner are taking a chance on developing a fully-fledged ostrich farm here in the Cayman Islands, where they hope to be selling meat, leather, feathers and eggs within four years of hatching their first batch of flightless birds on Grand Cayman. The meat, which is becoming increasingly popular outside its native Africa, may soon grace local restaurant menus and home tables alongside turtle meat, Cayman style beef and pulled pork as an alternative low cholesterol, healthy, red meat. Greg Anderson, who has been farming the birds, which can reach well over 300lbs for fully grown males, in Canada for many years, said he will be starting by importing around 20 eggs, which will be hatched to begin the basis for a local flock.

New council members for Caymanian Bar Association

CBA.PNG(CNS Business): The Caymanian Bar Association has elected its 2013-2014 council members. Dale Crowley, Abraham Thoppil and Brett Basdeo were elected to the executive positions as President, Vice President and Treasurer, respectively.  Outgoing Secretary Winston Connolly was succeeded by Nick Joseph. Returning ordinary members Neil Timms, QC, Nick Rogers and Anna Goubault have been joined by newly elected Martin Davies.

New senior deputy clerk of court and registrar of FSD

Snr Deputy Clerk1_0.jpg(CNS Business): Tomica Daley LL.B, LEC has been appointed as senior deputy clerk of court and registrar of the Financial Services Division of the Grand Court, starting Monday 13 May. Daley is a qualified attorney with extensive experience as a senior clerk of courts in Jamaica. She also holds a Certificate in Public Administration from the University of the West Indies. According to Judicial Administration, after many years of exceptional service, Audrey Bodden has relinquished these roles but continues as Registrar of the Court of Appeal, although from 1 July, this will be on a part time basis.

CIMA's PR executive wins international award

Sharon Marshall 2.JPG(CNS Business): Dr Sharon Marshall (left), Public Relations Executive with the Cayman Islands Monetary Authority (CIMA), has won a Gold Quill Award of Excellence from the International Association of Business Communicators (IABC). The Gold Quill was awarded in the Communications Skills Division in the category of Special Events – External, for communications management of the 42nd Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB), which took place in the Cayman Islands in May 2012.  Marshall was in charge of CDB’s public relations at that time, and wrote the strategic comunication plan which emphasized the long-standing relationship between CDB and Cayman.

DCI attends investment facilitation training

(CNS Business): Senior Investor Services Officer for the Department of Commerce and Investment (DCI), Shannon Francis, attended a two-day seminar in Kingston, Jamaica on ‘Attracting FDI through Good Investment Facilitation’. Hosted by the Caribbean Export Development Agency, in collaboration with the Caribbean Association of Investment Promotion Agencies (CAIPA), the focus of the seminar was for investment promotions agencies (IPA) to gain a better understanding of investors and their expectations. DCI Acting Director Ryan Rajkumarsingh said, "As Cayman’s IPA and a member of CAIPA, DCI saw benefits in learning the most current investment promotion techniques particularly in regard to investor support."

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