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Article: Appleby Merges The First Registered Mutual Fund Structure In The Cayman Islands.
- Article from:
- Mondaq Business Briefing
- Article date:
- September 15, 2009
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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According to the Cayman Islands Monetary Authority ("CIMA"), Appleby is the first law firm in the Cayman Islands to utilise the "merger provisions" for two CIMA registered mutual funds after the Cayman Islands Companies Law was amended in April 2009. Until recently, a Cayman company could only combine with another company by way of "arrangement" which required the parties involved to apply the Grand Court of the Cayman Islands for approval.
The Certificate of Merger dated 3 August 2009 was issued by the Cayman Islands Registrar of Companies to Appleby's client and signifies the first CIMA registered mutual fund structure to make use of the Companies (Amendment) ...