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Isle of Man
Simcocks
The global pandemic of COVID-19 is preventing individuals from travelling to sign documents, or being in close proximity with other individuals when signing documents.
Simcocks
When an individual is required to sign certain documents (usually as a deed), there is a requirement for there to be a witness to the signing process.
Appleby
The final provisions of the Isle of Man Charities Registration and Regulation Act 2019 (2019 Act) came into force 1 April 2020.
Appleby
Whether for administrative, tax, confidentiality, substance or other reasons, the ability to re-domicile a company into – or out of – the Isle of Man is a useful feature of Isle of Man Companies...
Dixcart
On 1st January 2019 the "substance-based regime" was introduced into the Crown Dependencies (Guernsey, Jersey and the Isle of Man).
Appleby
At the time of writing, there is still no clarity on if, when or how the United Kingdom (UK) will leave the European Union (EU) and many potential scenarios ranging from an extension to the deadline
Appleby
Strike off action does not reduce or extinguish the liability of any director, officer or member of the company.
Appleby
It is also usual practice for a liquidator to require the shareholder or beneficial owner of the company to provide him with an indemnity in advance of agreeing to be appointed.
DQ Advocates
Trust structures will often involve trustees holding shares in companies; those shares forming part of the trust fund held by the trustees for the benefit of the trust and the beneficiaries as a whole.
Appleby
The Isle of Man High Court has issued a landmark decision confirming for the first time in a reported judgment the considerations that the Isle of Man Court will adopt
Simcocks
The Mercury case (R (on the application of Mercury Tax Group and another) v HMRC [2008] EWHC 2721) provided obiter English Law comments in relation to the closing or completion of matters where some of the parties ...
Dixcart
The earliest reporting date would be accounting period ended 31 December 2019 and therefore reporting by 1 January 2020.
DQ Advocates
"Put his own interests above those of the company" "Buried his head in the sand" "May not have undertaken their duties in a fit and proper manner" ….
Simcocks
In banking and finance matters, a legal opinion is often sought to confirm the capacity and valid incorporation and existence of a legal entity.
Simcocks
This decision demonstrates the benefit of a statutory provision, not limited to a particular set of facts or criteria, as to when and why a receiver should be appointed.
Simcocks
The Isle of Man advocate instructed to act would usually review any transaction documents being entered into by the Isle of Man legal entity from an Isle of Man law perspective.
DQ Advocates
Once appointed, a Trustee is subject to a number of duties. A Trustee's overriding duty is to act in the best interests of the beneficiaries of the Trust.
DQ Advocates
On 1 January 2017 the Financial Services Rule Book 2016 comes into operation. With this will be the requirement on all Isle of Man licence holders to establish, implement and maintain an effective whistleblowing policy.
DQ Advocates
The scheme must represent a genuine compromise by which the members and creditors obtain some advantage that compensates them for the alteration of their rights.
DQ Advocates
Despite the abolition of the Slavenburg register by the UK Overseas Companies (Execution of Documents and Registration of Charges) (Amendment) Regulations 2011 ("the Regulations"), DQ still receive some requests to register charges granted by Isle of Man companies over property in the UK.
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