Tag Archives: HSM Cayman
The HSM Group has once again opened its doors for their summer internship programme and has welcomed seven students from the Cayman Islands Further Education Centre (CIFEC).
Cliff Weeks Jr, Alanee Morgan, Janiya Jackson, Javari Pearson, Robert Chung, Korey Berry and Eva Bothwell have joined the HSM team for the summer.
The HSM Group is a full-service law firm and corporate services provider, which offers students the ability to gain experiences across a variety of practices including property, debt collection, intellectual property, corporate services, compliance and even areas outside of law, such as marketing and finance.
HSM’s 2024 summer internship programme takes place July through August and falls shortly after an 8-month long work experience stint with the CIFEC internship programme. HSM offered 13 placements for the 2023/24 academic year.
“For over a decade, HSM’s summer internship programme has been instrumental in developing young professionals,” shares HSM Managing Partner, Huw Moses OBE. “…and I am proud to say that some interns have continued into full-time positions with our firm.”
HSM will be participating at CIFEC’s 2024 Career Fair in September. HSM has supported the CIFEC programme since they opened their doors in 2012 and employs six CIFEC graduates full-time.
Front Row (L-R): Cliff Weeks Jr., Alanee Morgan and Janiya Jackson. Back Row (L-R): Javari Pearson, Robert Chung and Korey Berry. Missing from photo: Eva Bothwell.
As we draw closer to the end of 2022, many clients will be considering their Cayman Islands structures and querying whether any entities are surplus to requirements. HSM’s Head of Corporate and Commercial, Peter de Vere, covers the key points you need to know at this time of the year.
The desire to wind up any Cayman entities before the end of the year is fueled primarily by the need to avoid any annual fees for the maintenance of the Company being incurred next year (2023).
To avoid those fees the voluntary liquidation of a Cayman Company would typically need to commence in late November early December (at the latest) with the final meeting being held before the end of January.
This timetable results in an effective dissolution date into the next calendar year, while still avoiding the government fees for that year.
If a dissolution is not completed (i.e. if the final return is not filed) by 31 January then the full annual return fees for the new-year are due and payable to the Cayman Islands Government.
If the liquidation is more complicated then more time would be required and an even earlier start date would be necessary. It is important to note that the Companies Act (as Revised) stipulates that a company is dissolved upon the expiration of 3 months from the registration of the final return and this timing must be considered if a 31 December (or earlier) dissolution date is required. If you do not need a 31 December (or earlier) dissolution date then please note it is possible to complete the liquidation process before year end (without the need for the publication of expensive extraordinary gazettes etc.) if the liquidation process is started no later than 25 November 2022.
The above timing considerations also come into play if there may be increased operational efficiencies in completing the dissolution within the current calendar year if additional regulatory filings and other costs for stub years can be avoided.
For example, investment funds that are registered with the Cayman Islands Monetary Authority (“CIMA”) may need to consider an earlier commencement date to ensure that the final audited financials are completed and filed with CIMA prior to the final meeting of the Fund. CIMA requires that a Fund undertakes a final audit for the period either up to the date of the appointment of the third party liquidator or to the date of the full payment of the final redemptions.
Strike Offs
The option to strike off a company remains an attractive (and cheaper) option for many clients whose companies do not have an active history of trading or were set up only to hold a single asset.
Whilst a strike off does not entail the process of appointing a liquidator and carrying out a formal liquidation it should be remembered that a) the Registrar only strikes off companies in batches at the end of each financial quarter and as such if a year-end dissolution is required then a strike off application should be filed ideally no later than November and b) a strike off remains reversible within a 10 year time frame and should not be viewed as having the same finality of a formal liquidation.
Conclusion
HSM Chambers has a wealth of expertise in advising on both voluntary liquidations, official liquidations and strike offs.
We can accept liquidator appointments for companies HSM Corporate Services Ltd. has provided registered office for from incorporation and we would be happy to provide a fee quote for any of your dissolution needs.
Key Contact
Peter de Vere
Head of Corporate and Commercial
Tel: 1 345 815 7360
pdevere@hsmoffice.com
The HSM Group is thrilled to welcome Shelly Perryman-Pollard to their law firm. Shelly joins HSM Partners Kerrie Cox and Linda DaCosta in their family law practice and will help people navigate through divorce and separation, financial considerations, custody matters, property settlement and more.
Shelly comes to HSM as an Associate with 12 years of legal experience in the family field. Shelly attained her Bachelor of Laws Degree (Hons) from the University of London in 2006. She is an experienced litigator and received a certificate of Enrolment to the Supreme Court of Judicature Trinidad and Tobago in 2009.
Shelly has substantial experience in contested matters before the Courts whilst always having an eye on the possibility of achieving a settlement with the attendant saving of legal costs.
Family affairs encapsulate many areas and to complement these services, HSM’s team of experts can also advise on immigration issues, family trusts, wills and estate administration.
Photo (L-R): Shelly Perryman-Pollard (HSM Associate), Linda DaCosta (HSM Partner) and Kerrie Cox (HSM Partner)
With effect from 8 January 2021, the Honourable Chief Justice via Practice Direction 11 of 2020 (“PD”) implemented an electronic filing and service platform (the “Platform”) pursuant to Order 1, rule 12(1) of the Grand Court Rules 1995 (Revised) (the “GCR”).
The Platform enables parties to issue proceedings and file Court documents electronically by uploading the same to the Platform, departing from the traditional practice of physically filing hard-copy documents at Court and the temporary post-COVID-19 practice of emailing the same to the registry. According to the PD, the objective of the Platform is to “improve access to justice by increasing efficiencies, timeliness and reducing costs.”
Until recently, use of the Platform was limited to all new matters commenced in the Financial Services Division of the Grand Court issued on or after the commencement date of the PD. However, use of the Platform has been extended to all divisions of the Civil Registry (in both Summary and Grand Court) and it is anticipated that the Platform will be extended to the Criminal Registry in the near future.
In order to file documents using the Platform, a party must register an account via the Judicial Administration website www.judicial.ky and click onto the e-filing Platform.
The effect of this PD impacts the manner in which parties interact with the Court and by extension each other. Subject to the GCR requirements for personal service of documents in the first instance, in addition to the methods of substituted service set out in GCR Order 65, the PD permits the electronic service of documents via e-mail and SMS or text message. A party is deemed to consent to electronic service by, inter alia, registering an account on the Platform and the email address provided during registration shall be presumed valid unless the party files and services a notice indicating otherwise. Similarly, the Court may also serve any notice, order or Judgment on a party to a case via electronic service.
The implementation of the electronic filing system in the jurisdiction presents a most welcome modernization to the procedures, in line with other jurisdictions around the world, which will hopefully bring material benefits to litigations in the long-term.
HSM’s newest lawyer Stephanie Mills became a qualified attorney-at-law in the Cayman Islands on 17 November.
Stephanie’s admission was moved by HSM Partner, Sarah Allison, who summarised her qualifications for Justice Richard Williams.
During her admission, Stephanie expressed her gratitude to the Court as well as her family and friends, and is thrilled to put her experience to use in her homeland.
Stephanie has over five years of experience in the legal field and prior to joining HSM, she practiced as a paralegal and subsequently as a solicitor at a UK law firm before returning to the Cayman Islands. Whilst working in the UK she was exposed to a wide range of practice areas and gained considerable experience in residential conveyancing matters.
Stephanie successfully completed her Legal Practice Course at Manchester Metropolitan University in 2015 and received a Bachelor of Laws (Hons) degree from the Truman Bodden Law School in 2014. During her studies she represented the Cayman Islands Law School in the Caribbean Law Clinic in Florida and their team received an ovation from the judges. Stephanie was admitted as a solicitor of the Superior Courts of England & Wales in 2020.
Stephanie is a part of HSM’s Litigation team and specialises in Debt Solutions and Recovery by providing assistance to a variety of banks and leading businesses enforcing secured/unsecured loan agreements, credit facilities and contracts for the supply of goods/services.
Managing Partner, Huw Moses, OBE notes, “We are proud to witness this significant milestone in Stephanie’s career and are delighted to see our firm grow with the addition of another qualified Caymanian professional. Congratulations Stephanie.”
Photo (L-R): Justice Williams, Stephanie Mills (HSM Associate) and Sarah Allison (HSM Partner)
Employers in the Cayman Islands are faced with a new challenge: how do we keep our doors open and our staff safe? In an effort to achieve this, some employers have been asking staff to disclose whether or not they have taken the COVID-19 vaccine.
HSM Paralegal Cory Martinson explores if employers are legally able to record this data and areas that should be considered:
Q: Does the Data Protection Act (2021 Revision) (DPA) apply if I want to record the vaccination status of my employees?
A: Absolutely the DPA applies. Any information about your employees is personal data under the DPA. Vaccination information is medical data which falls under the definition of sensitive personal data in the DPA which means an employer must meet stricter legal requirements before processing. Processing is broadly defined as recording, holding, obtaining or carrying out any operations on the personal data.
Q: What is meant by “stricter legal requirements” when it comes to processing sensitive personal data?
A: Under the DPA, to legally process sensitive personal data the data controller (i.e. the employer) must identify a legal basis for processing from both Schedule 2 and Schedule 3 of the DPA.
Additionally, the more sensitive the personal data the more security is required to ensure against unlawful processing. Security measures can include policies, access controls, technical and physical measures.
Q: What are the appropriate legal bases for processing sensitive personal data under Schedule 2 and 3 in this context?
A: The appropriate legal basis for processing will vary depending on the specific employer, the employee’s position within the organization and any legal framework to which the employer must adhere. For example, there will be a stronger legal basis for knowing the vaccination status of an ICU nurse than a dump truck driver. Legal frameworks will be employment sector specific but the Labour Act (2021 Revision) has a general requirement under section 58 that “Every employer shall ensure so far as is reasonably practicable the health, safety and welfare at work of that person’s employees.” This may provide a legal basis for processing, however, an argument exists that the interpretation of the words “necessary” and “reasonably practicable” are open to distinction.
Q: Is the collection of vaccination data a reasonably practicable measure and, if so, is the collection of the vaccination data then necessary as required by the DPA?
A: The answer to this question will vary from employer to employer as well as between occupations. However, before asking this question the organization should first consider less privacy intrusive means of achieving the same goal. For example, can the risk to employees be sufficiently reduced through mandatory mask requirements, social distancing and hand hygiene? Can employees work from home or alternate between home and the workplace so not all employees are in the workplace at once? Is a blanket policy necessary or is a more strategic approach just as effective but less privacy intrusive? There is no “one size fits all” solution. If in doubt, you should seek legal advice.
Q: What are the possible repercussions to my organization if I collect vaccination data in contravention of the DPA?
If the Ombudsman receives a complaint, or initiates their own investigation, and finds that the business is not in compliance with the DPA, they can issue an Enforcement Order which may require the cessation of processing and that the data be destroyed. Non-compliance with an Enforcement Order is an offence and the business and/or director(s) could face a fine of up to $100,000KYD or imprisonment for up to five years, or both, as a result of court proceedings. Enforcement Orders are routinely published on the Ombudsman’s website so this type of enforcement action also has a high likelihood of becoming public knowledge.
Additionally, if there has been a “serious contravention” of the DPA and “the contravention was of a kind likely to cause substantial damage or substantial distress” the Ombudsman may levy a monetary penalty of up to $250,000KYD.
Under section 13 of the DPA an individual who has suffered damage as a result of a contravention of the law also has a cause of action for compensation against the organization. It should be noted that courts in the European Union have now recognized that damages include mental distress.
Conclusion
Vaccination status and data protection laws worldwide are a rapidly evolving area of jurisprudence. Some governments are taking legislative measures to mandate vaccinations in an attempt to provide a degree of certainty and it is only in the event of a judicial challenge will more “comprehensive” legal guidance be available.
As we navigate through this COVID-19 era, HSM strongly encourages people to reach out to their legal advisors to assess whether or not they are within their legal rights.
Key Contact
Cory Martinson
Paralegal
Tel: 1 345 815 7420
cmartinson@hsmoffice.com
Cory Martinson previously worked for the Office of the information and Privacy Commissioner for BC, Canada where part of that time was spent working with Elizabeth Denham who is currently the Information Commissioner for the UK. He is a Certified Information and Privacy Professional with the International Association of Privacy Professionals, is certified at the Master level with the Canadian Institute of Access and Privacy Professionals and has a Post Graduate Diploma in Information Rights and Practice Law. Cory was also a member of the legal committee that drafted the Data Protection Act Regulations in the Cayman Islands. Cory is currently pursuing his LLB.
HSM is proud to be ranked by The Lawyer as one of the Top 30 Offshore Law Firms for 2021 and be featured in The Lawyer Magazine July 2021 edition.
HSM is listed within their Top 10 Headcount Growers, highlighting HSM’s increase in Partners over the past year. HSM has also been listed in their Top 10 Most Diverse Firms for having the second highest ratio of female to male Partners.
This ranking highlights HSM’s ability to continuously grow while valuing diversity and inclusion to create a dynamic workforce in the offshore legal industry.
In addition, the HSM Group was mentioned for its acquisition of the Cayman based corporate services operations of Higgs & Johnson.
The HSM Group is delighted to once again offer their summer internship programme and has welcomed five students from the Cayman Islands Further Education Centre (CIFEC).
Jaysie Allen, Destiny Russell, Shyanne Stewart, Paris Jackson and Jahzarah Bush have joined the HSM team for the summer. As a full-service law firm in the Cayman Islands, HSM provides interns with a variety of practice areas including Corporate Services, Debt Collection, Immigration and Intellectual Property.
The summer internship falls shortly after an 8-month long work experience scheme with the CIFEC programme. HSM’s summer internship will enable these students to gain valuable experience and develop the necessary skills required to evolve onward with their future careers while making meaningful contributions to the firm.
“Seeing students so eager to apply and advance themselves is truly refreshing to witness,” shares HSM Managing Partner, Huw Moses OBE. “The arrival of the summer interns is highly anticipated each year and our team aims to instill lifelong skills and valuable work experience into each intern to help shape them into young working professionals.”
HSM is an avid supporter of the CIFEC programme and will be participating at CIFEC’s annual career fair in September. HSM has supported the CIFEC programme since they opened their doors in 2012 and employs seven CIFEC graduates full-time.
(L-R): Shyanne Stewart, Jaysie Allen, Paris Jackson, Jahzarah Bush and Destiny Russell.
HSM IP is honoured to be in the Top 10 Trademark Firms in the Trademark Lawyer Magazine Law Firm Rankings 2021/22 for the entire Caribbean region.
This Top 10 ranking highlights HSM IP’s dedicated and continuous contributions to the world of Intellectual Property in the Caribbean. HSM IP is led by Huw Moses (Managing Partner) and Sophie Peat (Partner) and continues to expand its client base year to year.
The Trademark Lawyer Magazine is a well-established and recognised brand within the global IP community. The Trademark Lawyer Magazine list of the Top 10 law firms for the Caribbean region is based on research they conduct and feedback received from other firms and brand owners.
The HSM Group is delighted to welcome back The Hon. Robin McMillan to their ever-growing law practice.
With a wealth of experience under his belt, Robin is a well experienced and skilled Senior Counsel. In recent years, Robin has served as a Judge of the Grand Court dealing with both interlocutory hearings and trials in the areas of insurance law, corporate insolvency and restructuring, funds investment law, family law and criminal law.
Robin has previously served on Cayman Law Society Committees where he was actively involved in various areas, along with overseeing a sub-committee of the Financial Services Division Users Committee. Robin continues to sit as a Judge occasionally. From 1974 to 1998, Robin was called to the bar in many different countries around the world including England and Wales, Bermuda, Northern Ireland, Hong Kong, California and the Cayman Islands.
HSM Managing Partner, Huw Moses, OBE notes: “Robin brings years of valuable and extensive experience to the firm. We are excited to have him as a highly respected addition to our team and look forward to growing the firm with him.”
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