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Grand Court provides clarity on costs


Introduction
In a costs ruling delivered on 12 March 2021, the Honourable Justice Ramsay-Hale provided welcome clarity on the circumstances in which the Grand Court will make a costs award on the indemnity basis.(1) A successful party can expect to recover a higher proportion of its costs when an award is made on the indemnity basis (rather than the standard basis) since only costs that are unreasonably incurred or of an unreasonable amount will be disallowed on taxation and any doubts as to reasonableness are resolved in favour of the successful party.(2)
Facts
Zhongzhi Capital (HK) Company Ltd (ZZHK) succeeded in its substantive application to rectify the register of members of Geopay Holding Limited (Geopay) so as to register ZZHK as the holder of certain shares in Geopay in place of Geoswift Holdings Limited. Geoswift pledged its shares in Geopay as security in return for a loan advanced to Geoswift by ZZHK. After defaulting on the loan, Geoswift resisted ZZHK s at ....

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Grand Court provides clarity on costs


Introduction
In a costs ruling delivered on 12 March 2021, the Honourable Justice Ramsay-Hale provided welcome clarity on the circumstances in which the Grand Court will make a costs award on the indemnity basis.(1) A successful party can expect to recover a higher proportion of its costs when an award is made on the indemnity basis (rather than the standard basis) since only costs that are unreasonably incurred or of an unreasonable amount will be disallowed on taxation and any doubts as to reasonableness are resolved in favour of the successful party.(2)
Facts
Zhongzhi Capital (HK) Company Ltd (ZZHK) succeeded in its substantive application to rectify the register of members of Geopay Holding Limited (Geopay) so as to register ZZHK as the holder of certain shares in Geopay in place of Geoswift Holdings Limited. Geoswift pledged its shares in Geopay as security in return for a loan advanced to Geoswift by ZZHK. After defaulting on the loan, Geoswift resisted ZZHK s at ....

Cayman Islands , Justice Henderson , Justice Ramsay Hale , Geoswift Holdings , Geopay Holding Limited , Zhongzhi Capital Hk Company Ltd , Cayman Islands Grand Court , Zhongzhi Capital Hk Company , Honourable Justice Ramsay Hale , Grand Court , Company Ltd , Weavering Macro Fixed Income Fund Ltd , Attorney General , Victoria King , Grand Cayman , Jean Lauat Ogier , Hong Kong , Zhongzhi Capital , Company Limited , Cayman Islands Grand Court Rules , Reid Minty , கேமன் தீவுகள் , நீதி ஹென்டர்சன் , நீதி ராம்சே ஹேல் , கேமன் தீவுகள் மாபெரும் நீதிமன்றம் , மாபெரும் நீதிமன்றம் ,

Trusts And Private Wealth 2021 - Carey Olsen Cayman Islands - Tax


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This guide to Cayman s private client sector includes
commentary on tax, trusts, foundations and private wealth
structures used within the jurisdiction, including charitable or
philanthropic structures. It also looks at capital gains,
withholding and wealth tax rules along with issues relating to real
property, immigration, succession, making a will and estate
planning considerations, legislative changes and disclosure
obligations.
Which factors bring an individual within the scope of tax on
income and capital gains?
This question is intended to address the territorial scope
of the taxes that your jurisdiction imposes on income and capital ....

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