Business in brief

K-Tone

Local multimedia and communications company Ktone Ltd has bought out another of its angel investors. The purchase terms resulted in the individual receiving a 50 per cent return on his investment, an increase over the double-digit returns paid to three other investors in the 2009 buy-out. This brings the total number of Cayman Angel Investor Network members with an equity stake in the business down from six to two.

Neil de Vere, Ktone Ltd. managing director, is proud of this accomplishment.

“We’re very happy to be able to provide positive returns for our original CAIN investors.

It is especially gratifying to be able to do within the current economic environment,” he said. Going forward Ktone will continue to look at new markets to expand its service range, he said.

The company will launch the first official application of the Cayman Islands Tourism Association in June across iPhone, iPad, Android and BlackBerry platforms. The app will be free and will contain important information 
that stay-over tourists need.

This includes listings such as dining out options, attractions, tours, accommodation and general info about the Islands.

SAXON MG

SaxonMG has responded to the flooding experienced at the home of Cayman Islands Humane Society by committing to give $5 to the society from every insurance policy that is signed now through the end of June. As of 1 June, the insurance company has raised some $550 for the society. The funds will aid the organisation in its recovery efforts: cleaning-up water damage, relocating animals and better preparing for any future storms.

SaxonMG Managers Brian Williams and Craig Scott came up with the “Saxon give-back programme” after text messages, e-mails and BBM broadcasts were circulated calling for assistance for the society which experienced widespread flooding that endangered the comfort and lives of the animals at the shelter.

“Saxon is always ready to give back to the community when we can. We are in tuned with our clients and so we respond to the things that they respond to as well,” Mr. Williams said.

In response to the news of the mounting donations, Lesley Walker said she was thrilled to accept donations on behalf of the Cayman Islands Humane Society. “Every penny we receive helps us to continue to keep the shelter open and doing what we can for the cats and dogs of this island: providing [a] sanctuary and medical treatment, looking after them as best we can and eventually finding new homes for them,” Ms Walker said.

In total, 204 animals were affected by the flooding experienced in the shelter. SaxonMG hopes the money will not only address the issues caused by the recent flood, but also assist the shelter in addressing the causes of the flooding.

Aon Cayman

Aon Insurance Managers (Cayman) Ltd and Aon Risk Solutions (Cayman) Ltd will be moving to a new location at 94 Solaris Avenue, Camana Bay, effective Tuesday, 19 June.

Maples and Calder

Maples and Calder donated $10,000 to the Special Needs Foundation of Cayman to assist with its specialised summer schools programme.

The SNFC is a charitable, nonprofit organisation of parents, educators and professionals committed to supporting children with a range of special needs across the Cayman Islands.

Among many other initiatives, one aim of the SNFC is to provide specialised summer school options at little or no cost to its members, through a variety of therapies and service providers on island.

“We are pleased to support the Special Needs Foundation in their efforts to advocate for the families and individuals with special needs and to educate the community at large,” said Maples and Calder Managing Partner Paul Lumsden. “We hope that this donation will allow greater access for member families to take advantage of the specialised summer schools programme being offered.”

Walkers

Walkers announced that 11 attorneys across five of Walkers’ international offices have been promoted to partner, as part of the firm’s annual promotions process.

Walkers’ new partners are Marianne Rajic (Investment Funds) in the BVI, Ben Benson (Investment Funds), Caroline Heal (Investment Funds), Tim Ludford-Thomas (Investment Funds), Lindsay Luttermann (Dispute Resolution), Ramesh Maharaj (Finance & Corporate/Investment Funds), Richard Munden (Finance & Corporate) and Michael Padarin (Investment Funds) in Cayman, Daniel Wood (Finance & Corporate/Investment Funds) in Dubai, Noeleen Ruddy (Finance & Corporate) in Dublin and Kristen Kwok (Finance & Corporate) in Hong Kong.

“Over the course of several decades, Walkers has gained its position as one of the leading international financial centre law firms by investing in the industry’s top talent and ensuring that the right people and processes are in place to serve our clients in any and all of the jurisdictions they require,” said Diarmad Murray, Global Managing Partner with Walkers. “These promotions underscore Walkers’ ongoing commitment to this strategy and will ensure the firm is well positioned for sustained growth. We are delighted to welcome these individuals to the partnership.”

Walkers was recently named “Cayman Islands Law Firm of the Year 2012” by leading legal directory Who’s Who Legal for the sixth consecutive occasion and had more partners ranked in the 2012 edition of the “International Who’s Who of Investment Funds Lawyers” than any other law firm worldwide, the law firm said.

Conyers Dill & Pearman

Conyers Dill & pearman has hired associates Ben Hobden and Hilary Brooks for its Cayman Islands litigation team.

Mr. Hobden is experienced in litigation and insolvency work, alternative dispute resolution, as well as commercial disputes of varying complexity and value, including several multimillion pound disputes. He has assisted with obtaining injunctive relief and managed matters to trial in both the County and High Court.

His client base includes a number of household names.

Hilary Brooks was admitted to the Cayman Islands Bar in May 2012, and completed her articles with Conyers, during which she attended matters in both open Court and Chambers.

Nigel Meeson, head of Conyers’ Litigation and Restructuring team in the Cayman Islands, said: “When you consider the experience and expertise of Ben and Hilary, together with the substantial growth of our litigation team from two lawyers to seven in less than five years, it is clear that our Cayman Litigation practice is going from strength to strength and has considerable depth and breadth. Further, Hilary’s hire demonstrates our continued commitment to the training and development of Caymanian lawyers.”

The hires of Ben and Hilary follow the recent addition of associate Ben Hart to Conyers’ Cayman Islands Litigation team.

The firm has also expanded its international litigation team, hiring Rosalind Nicholson and Scott Pearman to its British Virgin Islands and Bermuda teams, respectively, in recent months.

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