Trinity wins Hedge Week award

Trinity has been named Best Offshore Hedge Fund Administrator at the Hedge Week Global Awards.

“We are absolutely thrilled with winning this award and give thanks for the support of every one of our clients in achieving it,” Trinity CEO John McCann said. “For Trinity it represents recognition from the marketplace for our sustained innovation, our ongoing investment in technology and the continued depth of knowledge and dedication of our staff in adapting and responding to an ever-evolving industry.”

New Cayman partner at Carey Olsen

Carey Olsen has promoted corporate and finance lawyer Alistair Russell into the partnership.

Based in the Cayman Islands, Mr. Russell joined Carey Olsen in 2013. He previously worked for Skadden, Arps, and Cleary Gottlieb, in London.

Mr. Russell works on a broad range of transactions, including fund and general finance, private equity, joint ventures, mergers and acquisitions and capital markets.

Managing partner of Carey Olsen’s Cayman Islands office, Jarrod Farley, said, “The Cayman office has grown rapidly since we opened in 2012 and Alistair has played a key role in the development of our corporate practice. We are delighted to welcome him to the partnership.”

International restructuring work addressed

Changes in market prices and increasing costs are driving more international restructuring and insolvency work, said Ogier disputes lawyer William Jones.

Mr. Jones, who was promoted to managing associate in the firm’s Cayman Disputes Resolution team this month, said there has been an increase in international restructuring and insolvency work in the natural resources sector. The firm has recently been instructed on matters involving the oil, steel and coal industries, for natural resources firms operating in Africa and Asia.

“What we are seeing is a trend of firms, particularly in the natural resources sector, finding themselves in financial difficulties because of lower market prices and increased costs,” he said. “That is leading to Cayman parent companies looking to restructure their debts in order to allow the businesses to continue to operate.”

Dart supports YMCA as corporate founder

Dart has joined key organizations and leaders in the community in supporting the YMCA of the Cayman Islands as a Platinum Founder.

The YMCA launched its Corporate Founders campaign in 2016 to root the organization in the community and establish a solid foundation for future success. Money raised helps increase community awareness about the YMCA’s mission, goals and impact; develop and expand programs; and provide the resources to build greater organizational capacity and stability.

Chris Duggan, vice president of Community Development at Dart, said, “We are delighted to come on board as a Platinum Founder of the YMCA of the Cayman Islands. Their commitment to positively impacting the lives of young people in Cayman is commendable, and the support they have received from the community since their recent launch is a testament to the valuable work that the organization has carried out over the years.

“We look forward to working with the Y to continue making a significant, positive impact on the lives of many youth and families throughout the Cayman Islands.”

Ogier’s Hong Kong office advises on hedge fund using Cayman LLC

Offshore law firm Ogier has advised on one of the first Asian hedge funds established under the new Cayman Islands Limited Liability Companies Law.

Ogier acted as Cayman Islands legal adviser to Vanhau Asset Management Ltd., a Hong Kong-based investment manager founded by Vishweshwar Anantharam and William Hau, on the recent launch of Vanhau Fund and Vanhau Master Fund, both being section 4(3) CIMA regulated mutual funds. The funds are both Cayman Islands limited liability companies.

The launch represents the first hedge fund Ogier has established using Cayman Islands limited liability companies as regulated vehicles.

The Limited Liability Companies Law was enacted in Cayman in June 2016.

Survey aims to capture awareness, training on FATCA and CRS

Consulting firm FTS has launched a survey to capture the level of awareness and training on FATCA and CRS (Common Reporting Standard).

Paul Byles, director of FTS, said it would be useful to understand the general level of awareness and training regarding the two initiatives to date. “That type of information, particularly when broken down by industry, positions, number of years’ experience, etc., can help to inform others in the industry responsible for training, but it’s also a great way to measure the general compliance culture with respect to these issues.”

The survey is anonymous and targets all staff working in the financial services industry, not solely at compliance professionals.

A summary report will be submitted to the various industry associations that participated to share with their members. The survey can be completed at: www.surveymonkey.com/r/JM78HKS.

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