Cayman News
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Samson & McGrath announce new partners
(CNS Business): Well-known local attorneys Benjamin Tonner and James Kennedy, both familiar faces in the Cayman courts, have been made partners in the Cayman Islands law firm, Samson & McGrath. The firm provides a broad range of legal services to the local and international market, and its twelve attorneys regularly appear before the Grand Court, Court […]
Regulator approves growth in CORE power
(CNS Business): The Electricity Regulatory Authority has approved an extension in the capacity of the consumer-owned renewable energy generation programme, known as CORE by 1MW and extended the contracts to 25 years. The ERA and Caribbean Utilities Company said the growth of the programme, which allows CUC customers to feed renewable energy from private solar panels […]
SEC reduces injunction on Caledonian’s US assets to $7M
(CNS Business): The US Securities and Exchange Commission reduced the freeze on the beleaguered Caledonian Bank’s assets this week from $76 million to just $7 million, the creditors have revealed. The bank was brought to its knees when the SEC filed suit against it and its bosses over an alleged $75m penny stock scam and […]
Dart boss shares UK platform with premier
(CNS Business): Cayman’s leader, Premier Alden McLaughlin, was joined by the COO of Dart Enterprises at the House of Lords this week in promoting Cayman when he delivered a key-note address at the Caribbean Council reception. As McLaughlin sold the crowd on the benefits of investing in Cayman and the future projects government has planned, he […]
Boss fined $8,500 for not insuring workers
(CNS Business): A local employer has been fined $8,500 for failing to pay the necessary health insurance for a worker. Caytech Electronics and its owner, Marcelo Franca, admitted the infraction and pleaded guilty to not insuring the staff member and his family for almost two years. On 10 March Magistrate Angelyn Hernandez imposed the fine, […]
George Town bars battle over hours
(CNS Business): An application by the owner of the Roof Top Lounge on Mary Street to change the licence from a bar to a nightclub faced objections from other bar owners in the capital and allegations were flying back and forth at the liquor licensing board meeting Friday. Donna Myrie, who owns the cocktail-style bar, […]
Chief Justice to speak at INSOL
(CNS Business): The head of Cayman’s judiciary is stepping away from the judge’s bench and heading to California to speak at a multinational judicial colloquium on cross-border insolvency this Sunday. Chief Justice Anthony Smellie will be addressing the Eleventh Joint Multinational Judicial Colloquium on handling cross-insolvency cases where there are assets in more than one […]
CUC sells off shares to raise $30M
(CNS Business): Shareholders in Caribbean Utilities Company (CUC) are being invited to buy more shares in the local power provider as it seeks to raise around US$31 million to help fund extra generating capacity. The rights offering to existing shareholders only, for Class A ordinary shares, opens on 27 March and will close on 30 […]
Schroders closing Cayman branch
(CNS Business): An asset management company is closing its branch in the Cayman Islands. Schroders Cayman Bank & Trust Company Ltd is a global investment company that opened its doors for business in the Cayman Islands in 1972, officials confirmed with CNS Business Wednesday.
New board member for Chamber Pension Plan
(CNS Business): A new trustee has been appointed to the Chamber Pension Plan Board of Trustees. Financial services professional Rhonda Anderson will now join the board, following the term fulfillment of a previous trustee. Anderson has nineteen years of experience in the offshore financial services industry, with over fifteen of those as a financial controller.
Chamber calls for mandatory listing of job-seekers
(CNS Business): The president of the Chamber of Commerce has called on government to introduce some kind of mandatory registering of the unemployed and better statistics relating to genuine job seekers. Barry Bodden said that the Cayman economy was improving and poised for growth, which he said would “outpace the local labour pool”, but the […]
FSD judge to commute to work in Cayman
(CNS Business): A non-resident judge has begun sitting in the financial services division of the Cayman Islands Grand Court but he will be presiding over cases by commuting and through video link and conference calls as he lives in the UK. Justice Nigel Clifford QC, a former Cayman resident, was a leading attorney in the […]
Cayman’s tax exchange portal ready to run
(CNS Business): After months of preparation, the exchange of tax information from the Cayman Islands to other jurisdictions will become more efficient with the launch of a new online system. The Automatic Exchange of Information (AEOI) Portal will be launched this month and will be used by Cayman’s financial institutions to comply with their reporting obligations under intergovernmental […]
There’s no hiding from Uncle Sam
(CNS Business): Even if you’re living in the Cayman Islands, the US tax authorities can come knocking on your door if you are not in compliance with the Foreign Account Tax Compliance Act (FATCA), US taxpayers residing in the Cayman Islands learned at a free seminar on Wednesday at the Caribbean Club. The free informational meeting, […]
Popular GT restaurant closing down
(CNS Business): After more than a decade of serving the people of the Cayman Islands and tourists from all over the world, Breezes By the Bay restaurant will close its doors on 3 April. Breezes has been a landmark for the George Town waterfront for the past 12 years. However, the Tropical Trader Restaurant Group has […]
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