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Appleby #Bermuda is pleased to sponsor Artemis’ Q4 2024 Catastrophe Bond & Insurance-Linked Securities Market Report. Catastrophe bond and related insurance-linked securities (ILS) market issuance of $4.5 billion in the fourth-quarter was sufficient to take the full-year 2024 total to a record $17.7 billion, while the outstanding market reached a new all-time-high of $49.5 billion. Bermuda’s Brad Adderley expects another busy start to 2025 stating, “I think that what we’re going to see next year is a lot of new issuances and structures. Then I think you’re going to see some announcements of sidecars, which is great, and some of these could be quite large. So, for me, I see as many interesting, complicated, transactional structures in the first two months of 2025. Whether or not March is busy or quiet, we’ll have to wait and see”. Click to read Brad’s interview with Artemis.bm and the full Report: https://bit.ly/4iZDFPO  

Bermuda’s Personal Information Protection Act 2016 (PIPA) will take effect on 1 January 2025. Many entities are asking themselves the question of whether the upcoming regulations will apply to them. In short, PIPA applies to “every organisation that uses personal information in Bermuda”, including Bermuda funds. Funds, along with their fund administrators and fund managers that use personal information (“PI”) in Bermuda, are subject to PIPA. Click to read more on PIPA’s application to funds entities as outlined by Brad Adderley, Duncan C. Card, B.A. (Hon.), LL.B., LL.M., ICD.D, Matthew Ebbs-Brewer and Karim Creary. https://bit.ly/4fDnODx

Appleby Hong Kong is delighted to have acted as Cayman legal counsel in the acquisition of Jinjer by Potentia Capital and J-STAR Co., Ltd. This significant transaction has been recognised as Asian Venture Capital Journal (AVCJ)'s 2024 Deal of the Year – Mid Cap, highlighting its importance in the private equity sector. Appleby Hong Kong team provided comprehensive services throughout the process, from fund establishment to downstream financing transactions. This effort was led by our Hong Kong partner, Eason Huang, with support from associates Yan Zeng and Fanny Or. #Appleby #AVCJ #Privateequity #HongKong #Offshorelaw

In a bold move, the Mauritius Revenue Authority has decided on the 20 December 2024 to treat compensation received under a compromise agreement pursuant to Section 16 of the Workers Rights Act as “exempt up to a maximum of Rs 3 million”. Read more here: https://bit.ly/4fvUwXI

Disputes involving Cayman Islands funds structured as exempted limited partnerships (or ‘ELPs’) remain a significant focus of Appleby’s dispute resolution practice in Hong Kong and Mainland China.   One particular trend has been the reluctance (or outright refusal) of GPs to move ahead with the liquidation of a closed-ended fund once the term of the fund has expired. This results in investors (the LPs) asking the following questions:   1. How do I force the GP to liquidate the fund and distribute the assets? 2. How do I replace the GP with a manager of my own choosing? 3. How do I get information from the GP about the performance of the fund?   Shanghai dispute resolution partner Ben McCosker, together with Lorinda Peasland from Appleby Hong Kong office, answer these questions (and more) in the most recent edition of Global Restructuring Review. Read more: https://bit.ly/3ZMGbjz #Appleby #Disputeresolution #Restructuring #Insolvency #Offshorelaw

Last Friday night, Appleby's Cayman team celebrated the holiday season with our annual Christmas staff party at The Wharf restaurant. The Appleby and AGS teams came together to enjoy a festive evening filled with drinks, food, and games, making for a fun and memorable celebration.

Season’s greetings from all at Appleby Jersey. Thank you to our colleagues and clients for helping to make 2024 memorable. We hope you enjoy watching some of our highlights! #ApplebyJersey #Appleby #JerseyLaw #ApplebyYourself #TeamAppleby

If you own a home in #Bermuda and are thinking of gifting it to family, be sure to read our property specialist Neil Molyneux’s article on the pros and cons you need to know, including the impact of stamp duty, depending on when you gift it. Click to learn more: https://bit.ly/4gBql1V  

Season’s greetings from all of us at Appleby!

Appleby is pleased to have acted as Cayman Islands counsel representing funds advised by Wafra Inc. in the acquisition of Aquila Air Capital. Click for more: https://bit.ly/3ZXrgV9