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Cuba s €72M Debt Fair Game For Lawsuit, Fund Says
Law360, London (March 4, 2021, 7:00 PM GMT) Lawyers for an investment fund on Thursday defended its decision to sue Cuba for €72 million ($86 million) in unpaid sovereign debt at a hearing in London, arguing it s not a vulture fund aggressively pursuing the country over decades-old loans.
The investment fund is suing Cuba and its central bank to collect two unpaid loans made to the central bank when the country was run by Fidel Castro. (iStock)
Richard Waller QC, counsel for the Cayman Islands-based fund CRF I Ltd., hit back at the country s accusations that it was unfairly proceeding with litigation connected to Cuba s outstanding debt.
By Jonathan Breen
03 Mar 2021
Online car marketplace Autohome has launched the roadshow for a secondary listing in Hong Kong. The float of new and existing stock could raise up to HK$7.6bn ($983.2m). The Chinese company, which already trades on the New York Stock Exchange, is floating 30.3m ordinary shares on the HKEX. The firm’s largest shareholder is Yun Chen a Cayman Islands-based special purpose vehicle and subsidiary of Ping An Group which is selling 10.1m shares in the
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CIB Marine Bancshares, Inc. Responds to Shareholder Proposal
BROOKFIELD, Wis., March 03, 2021 (GLOBE NEWSWIRE) CIB Marine Bancshares, Inc. (the “Company” or “CIBM”) (OTCQB: CIBH), recently received notice from a Cayman Islands-based investment fund of its intent to submit two proposals for consideration at the Company’s 2021 Annual Meeting: (i) nomination of two of its representatives to serve on the Company’s Board of Directors; and (ii) an Amendment to the Company’s Restated and Amended Articles of Incorporation (“Articles”), which, if approved, would be in direct contravention of the Company’s disciplined process for preferred stock repurchases whereby every transaction must be accretive to value, on reasonable market-like terms, and in the best interest of the Company and its shareholders. The offshore investment fund is the largest single owner of preferred stock in the Company and would be the largest single recipient of payments from the Company under th
Beating Mauritius
FDI surge from Cayman Islands makes it the new Mauritius; chorus grows China might be routing investments into India through it
Illustration by Raj Verma
Cayman Islands is situated in Caribbean Sea, 480 miles southwest of Miami, USA. The three islands are spread over 101 square miles, have a population of 65,000 and gross domestic product (GDP) of $5.5 billion, slightly more than that of the Union Territory of Puducherry.
Still, it was the third-largest contributor of equity foreign direct investment (FDI) in India in the first six months of FY21 ($2 billion). Only Singapore ($8.3 billion) and the US ($7.13 billion) were ahead. The tiny British Overseas Territory even bettered Mauritius, traditionally the biggest source of FDI into India.