HSM LAW
HSM Shines with Gold Medals from Best of Cayman 2025
The HSM Group is proud to share its outstanding success where it achieved gold medals across multiple categories: Law Firm Immigration Law Estate Law Family Law The Best of Cayman Islands is a vote-based contest focusing on and highlighting the best Read more +
HSM Welcomes Two Full-Time Hires from Internship Programme
The HSM Group is pleased to announce that they have recruited two of their interns from the Cayman Islands Further Education Centre (CIFEC) Internship Programme. Azaria Ruiz-Bodden and Ahmoya Morrison have both joined as Immigration Services Administrators. They originally joined Read more +
Enforcement of Foreign Arbitral Awards in the Cayman Islands
As a signatory to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention“), the Cayman Islands has adopted a robust framework for enforcing foreign arbitral awards, encapsulated in the Foreign Arbitral Awards Read more +
Privy Council Clarifies Status of Land Use and Property Rights in the Cayman Islands
In the matter of Cayman Shores Development Ltd v The Proprietors of Strata Plan No. 79 [2025] UKPC 27, the Privy Council issued their judgment confirming that property rights attached to resort facilities remain valid and binding, even where documentation Read more +
A Look into Cayman's Registered Land (Amendment) Bill, 2020
In November 2018, the Law Reform Commission published a Discussion Paper entitled “The Enforcement Of Mortgage-type Security Over Real Estate: Is Reform Of The Law Necessary?” which sought to consider whether reform of the law in relation to the enforcement of residential mortgages was necessary.
HSM is at the forefront of this discussion and its attorneys Huw Moses (Managing Partner), Sarah Allison (Partner) and Shula Sbarro (Associate) as well as other local attorneys have responded to the Law Reform Commission with an in-depth overview of the mortgage enforcement procedure in the Cayman Islands together with suggested amendments.
On 28 August 2020, the Law Reform Commission published Cayman’s Registered Land (Amendment) Bill, 2020 for public review and comment. The consultation period ends on 16 October 2020.
Notably, the proposed amendments to the legislation would see the introduction of a “Lending and Pre-action Protocol” which aims to encourage greater pre-action engagement between the parties and ensure that both the lender and borrower act fairly and reasonably.
The proposed pre-lending requirements would place obligations upon the lender to: provide the borrower with a prescribed list of information regarding the terms of the contract and consequences of breach prior to the creation of a legal charge; urge the borrower to seek independent legal advice; require the borrower to sign a special acknowledgment regarding their understanding of s.64(1) of the Law; and provide the borrower with a 5 day right of cancellation after entering into the legal charge.
Prior to exercising its power of sale in respect of a residential dwelling, the proposed new amendments mandate that a lender must comply with the Pre-action Protocol requiring the lender to, inter alia, explore solutions to enable the borrower to remedy any default in light of their individual financial circumstances.
The Bill also codifies the procedure for valuing, marketing and selling a charged property which is not dissimilar to the current procedure laid down by the Grand Court Practice Directions. Notably, there is an amendment to a lender’s power of sale which permits a sale of the charged land by public auction, private treaty, Cayman Islands Real Estate Brokers Association (CIREBA) MLS or any other method prescribed by Cabinet.
The Bill introduces a statutory right to apply to the Court for directions including an Order for access but critically, there remains no right to possession until the lender has sold the property.
The Law Reform Commission invites the general public to make comment on the proposed Bill by forwarding submissions to the Director of the Law Reform Commission, 4th Floor Government Administration Building, Portfolio of Legal Affairs, 113 Elgin Avenue, George Town, Grand Cayman, P.O. Box 136, Grand Cayman, KY1-9000 either (1) electronically to jose.griffith@gov.ky or (2) in writing, by post or hand delivery by the deadline of 16 October 2020.
