Business in brief

Conyers hires new head of litigation and restructuring

Alex Potts, Conyers

Conyers’ Cayman office has hired Alex Potts QC as the head of the Cayman Islands litigation and restructuring practice. Potts is an experienced litigator and advocate, having been admitted to the Bars of England and Wales, the Cayman Islands, and Bermuda. He joins Conyers from Kennedys in Bermuda and has previously worked in London.

Kevin Butler, head of the Cayman Islands office, said the firm was “pleased to have Alex on board”, adding, “His knowledge and expertise strengthens our position in the market and will ensure that we continue to offer the high calibre of client service that the department is known for.”

With a particular focus on complex disputes, Potts handles matters in various fields, including banking, financial services, investment funds, insurance and reinsurance, professional negligence and asset recovery. His practice also extends to such matters as constitutional and administrative, regulatory, employment, planning, and environmental law.

ZEDRA acquires Polish corporate services firm

ZEDRA has announced it will acquire Awans Corporate Services, which provides accounting, human resources and payroll-management services to local entrepreneurs and medium-sized companies in Poland.

Awans has 20 staff and also offers traditional corporate services, including incorporation, cash management and business advisory.

In 2019 ZEDRA struck deals in Singapore, the Isle of Man, Switzerland and the Nordic markets.

Ivo Hemelraad, CEO of ZEDRA said the latest deal will mark the group’s first move into the fast-growing central European markets. “With a population of nearly 38 million, together with a strong tradition for business startups and growth, we see Poland as a dynamic and important new market for ZEDRA.”

The deal will bring ZEDRA’s existing headcount to over 550 industry experts and expand its global footprint to 14 countries, spanning Asia, Oceania, the Americas and Europe.

ICWI expands into Dominica

Paul Lalor, ICWI president

The Insurance Company of the West Indies has opened its ninth operation in the Caribbean with a new office in Dominica, which will facilitate general insurance services.

ICWI president, Paul Lalor, said despite the devastation caused by Hurricane Maria in 2017 the island was poised for growth and further development. “ICWI is committed to being an integral part of that, not only growing our business and employing more people, but also to invest, we want to be a part of the fabric of Dominica.”

ICWI also has operations in the Bahamas, British Virgin Islands, Cayman Islands, Jamaica, St. Kitts and Nevis, St. Maarten, Trinidad and Tobago, and Turks and Caicos.

“Operating in multiple territories, ICWI is able to widen its revenue base, diversify the risk it takes, and benefit from the economies of scale that size has to offer,” Lalor said.

CUC declares dividend

The board of directors of Caribbean Utilities Company has declared a dividend of US$0.175 per Class A Ordinary Share, or an annualised dividend of US$0.70 per share. The dividend will be payable on 15 March 2020, to shareholders of record on 1 March.

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