Conyers advised Castlelake, L.P. in connection with the Bermuda law aspects of its sixth structured ABS financing, Castlelake Aircraft Structured Trust 2019-1 (CLAS 2019-1). CLAS 2019-1 which priced on 12 April 2019 totals US$867.6 million of asset-backed debt and will be used to finance a diversified portfolio of 28 younger mid-life aircraft on lease to 14 lessees in 13 countries.
Bermuda, the Cayman Islands and BVI have recently passed legislation with regards to the economic substance of certain entities based in those jurisdictions, in order to meet requirements set down by the EU’s Code of Conduct Group (Business Taxation).
Conyers lawyers can help you determine whether or not your entity or proposed entity will be in scope of the legislation.
In a judgment handed down by the British Virgin Islands High Court on 25 July 2019, Renaissance Ventures Ltd and another were awarded rectification of the share register of a billion dollar corporate group, Comodo Holdings Ltd.
The proceedings were acrimonious and hard fought over some time, with the three week trial in June 2019 necessitating five days of cross-examination of Comodo’s co-founder and CEO. The issues revolved around allegations of misrepresentation, in this case alleged against a person now deceased, and associated interpretation of subscription agreement. Conyers partner Mark Forte led a team of associates including Lauren Peaty and Alecia Johns, under leading counsel Paul Chaisty QC.
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