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The memorandum and articles of association can only be amended by a special resolution, [19] which under Cayman Islands law normally means a two-thirds majority, although this can be increased under the articles of association. [20] The company's memorandum and articles may be supplemented by a shareholders' agreement.
Cayman Islands bankruptcy law is principally codified in five statutes and statutory instruments: the Bankruptcy Law (1997 Revision) the Companies Law (2013 Revision)
The law of the Cayman Islands is a combination of common law and statute, and is based heavily upon English law. Law in the Cayman Islands tends to be a combination of the very old and the very new. As a leading offshore financial centre , the Cayman Islands has extremely modern statutes dealing with company law , insolvency , banking law ...
For example, in the United Kingdom under the Companies Act 1985, an extraordinary resolution was a resolution passed by not less than 75% of the members, whereas a special resolution was a resolution passed by the same majority, but having given the members not less than 21 days' notice of the intention to put the resolution to a vote. [1]
A Special Resolution can be tabled at a Director's Meeting. The Ordinary Resolution requires the endorsement by a majority vote, sometimes easily met by partners' vote. The Special Resolution requires a 60, 70 or 80% of the vote as stipulated by the constitution of the company. Shareholders other than partners may vote. The matters which ...
Carey Olsen is an offshore law firm with offices in Bermuda, the British Virgin Islands, Cape Town, Cayman Islands, Guernsey, Jersey, London, Hong Kong and Singapore advising on Bermuda, British Virgin Islands, Cayman Islands, Guernsey and Jersey law.
Harney Westwood & Riegels (or Harneys) is a global offshore law firm that provides advice on British Virgin Islands, Cayman Islands, Cyprus, Luxembourg, Bermuda and Anguilla law to an international client base that includes law firms, financial institutions, investment funds, and private individuals. They have locations in major financial ...
Ogier is a law firm with offices in the BVI, the Cayman Islands, Guernsey, Ireland, Jersey and Luxembourg. It is a member of the offshore magic circle . [ citation needed ]