Business in brief

CUC announces 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 2021 to shareholders of record on 1 March 2021. 

Moncrieff joins regional EY tax team

Robert Moncrieff

EY’s Robert Moncrieff, global insurance international and transactions tax services leader, has joined the EY region of the Bahamas, Bermuda, British Virgin Islands and Cayman Islands to also serve as regional BEPS (base erosion and profit shifting) and economic substance leader.

Now based in Bermuda, Moncrieff has been with EY since 1989. He has held various roles throughout the firm in London, Boston, Chicago and New York.

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For the past two decades, Moncrieff has been based in New York, with a focus on multinational insurance, in particular the London and Bermuda markets, as well as economic substance and OECD tax proposals.

He also brings experience in advising on how to approach and manage the European Union’s measures impacting the British Overseas Territories and the Bahamas, EY said in a press release.

Maples Group adds partners to dispute resolution and insolvency practice

Nick Stern and Quentin Cregan have joined Maples and Calder as partners in the dispute resolution & insolvency (DR&I) practice in the Hong Kong and Cayman Islands offices, respectively.

In addition, London-based DR&I lawyer, Christian La-Roda Thomas, has been promoted to partner.

Stern, formerly with Freshfields Bruckhaus Deringer in Asia, has over 20 years’ experience working on complex multi-jurisdictional disputes, insolvency and restructuring-related disputes, shareholder disputes, schemes of arrangement and court-led restructurings.

Cregan is formerly a barrister at 8 New Square in the UK, where he specialised in commercial disputes with a particular emphasis on intellectual property, technology, contract and commercial matters.  Prior to that, he spent a number of years working in the Cayman Islands and has experience in dealing with complex financial services-related crises and disputes. He also holds a doctorate in law from Oxford University.

La-Roda Thomas has been based in the Maples Group’s London office since December 2019 following six years in the group’s Cayman Islands office.

Quentin Cregan
Nick Stern
Christian La-Roda Thomas






Vistra acquires Jotaerre in Brazil

Corporate services provider Vistra has acquired Jotaerre, a specialist in services tax calculation and collection/payment in Brazil.

Vistra said in a press release the acquisition enhances its presence in Brazil to expand its scope of support to international and local clients with company formation and management, secretarial, tax and accounting services. Acquiring Jotaerre also provides Vistra with enhanced tax expertise and services, the company said.

Founded in 1989, Jotaerre is based in San Paulo, Brazil, and covers 4,170 municipalities. It offers differentiated ISS tax services with a low-cost technology solution, which interfaces directly with multiple Brazilian services tax submission systems.

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