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Article: Cayman Islands - Legal Aspects in 2002.
- Article from:
- Mondaq Business Briefing
- Article date:
- June 28, 2002
CopyrightCOPYRIGHT 2002 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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By Wayne Panton of Walkers and Anne Forbes of Walkers (Europe)
The last twelve months in the aviation industry have been dramatic in the extreme. During what was widely regarded as a cyclical downturn in the market, the events of September 11th saw a sharp and immediate decline in aircraft business and traffic worldwide. The ensuing panic caused by the Insurance sector's reduction of third party liability coverage and the collapse of Sabena and Swissair made 2001 arguably the most difficult year in aviation history.
All this left the distant and temperate waters of the Cayman Islands relatively unscathed. While the initial aftershock of 9/11 slowed ...