The IFC Economic Report invites Anthony Travers to discuss Westminster’s decision to force the Overseas Territories to adopt public registers of beneficial ownership.
Anthony Travers OBE, a senior partner with the Cayman law firm Travers Thorp Alberga and chairman of the Cayman Islands Stock Exchange, asks – on behalf, he says, of Her Majesty’s 14 Overseas Territories and three Crown Dependencies – “the seemingly obvious question: ‘Non-compliant with what?’”
Link to International Investment Article
BY JACK IRVINE
20 November, 2017
There is a hugely successful partnership between offshore jurisdictions and the City of London, which is viewed with jealousy by the EU
Link to Media House Article
Acted as Cayman Islands counsel to Banco do Brasil in the debt issuance worth US$1bn through a Euro Medium Term Note Program. This issue represents the return of Banco do Brasil to the international debt market after three years.
Acted as Cayman Islands counsel to Banco do Brasil in the US$500 million unsecured A/B loan by the Inter-American Investment Corporation for the financing of enterprises engaged in Brazil’s agribusiness sector. This loan constitutes the first commercial financing in which Banco do Brasil has worked with a multilateral institution such as IIC.
Acted as Cayman Islands counsel to Patria Investimentos (in partnership with Blackstone) in relation to the joint venture of Kipit with GuardeAqui (owned by the US private equity Equity International) to become the largest self-storage firm in Brazil.
Appearing on Newsnight, Chairman Anthony Travers adopted an aggressive stance to dismiss claims that people have been unlawfully stashing money in offshore accounts to avoid paying tax.
Link to Daily Express Article
From Anthony Travers, chairman, Cayman Islands Stock Exchange
Sir, Further to your report “Queen’s estate sinks millions offshore, say leaked papers” (November 6): unfortunately, the debate about offshore financial centres has been entirely mischaracterised and misrepresented by a very small group of extreme leftwing campaigners. Offshore begins at the White Cliffs of Dover. If what is being suggested by the BBC and Guardian is that it is improper to make investments outside the UK, then there would need to be very significant change to the UK legislation. As it stands, UK residents including Her Majesty the Queen are entitled to invest in any offshore jurisdiction in the world and UK tax law provides for taxation in relation to those investments. The Overseas Territories and the Crown Dependencies now lead the world in transparency for financial centres onshore and offshore.
Anthony Travers Chairman, Cayman Islands Stock Exchange
Link to FT Article
The Cayman Islands is one of 92 jurisdictions that expect to learn by December if they will be placed on a European Union “blacklist” being drawn up as part of a tax avoidance crackdown.
The Firm acted as Cayman counsel to Didi with respect to Didi’s acquisition of Uber China’s Operations. This transaction was recognised at the ALB awards 2017 as M&A Deal of the Year (Premium) and Deal of the Year.
Published on www.corporatelivewire.com – February 14th 2017
The Firm represented China-based photo app firm Kuaishou in its Series D-1 financing early this March – raising US$350 million in fresh funding led by Chinese internet giant Tencent.
The Firm represented State Elite Global Limited in connection with the listing with the Hong Kong Stock Exchange of its US$2,000,000,000 medium term note programme and US$700,000,000 fixed rate notes
Published in The Cayman Reporter – October 10th 2016
Travers Thorp Alberga acted for RiverCrossing in connection with the launch of its Cayman Islands investment vehicle, Retail Centres Germany Investment Company Limited which in partnership with Greenman Investments a leading retail property manager invests in German retail property . RiverCrossing is dedicated to providing Islamically-compliant real estate investment opportunities to investors in the GCC.
Published in the IFC Economic Report – Autumn Edition
Recent commentaries by various offshore law firms on the delay by ESMA in extending the pan European passport for marketing the securities of Cayman Islands domiciled funds throughout the EU under the Alternative Investment Fund Managers’ Directive (“the Directive”) may have over emphasized the importance of the ESMA approval.
The Firm represented China Aircraft Leasing Group Holdings Limited, the largest independent aircraft operating lessor in China, on its US 300 million aggregate amount D bond issuance due 2021.
The Firm acted for the buyer’s consortium in the privatisation of China’s leading real estate services company the NYSE-listed, E-House (China) Holdings Ltd.
The Firm represented China-based ride hailing service provider Didi-Chuxing in its merger with Uber China.
The Cayman Islands is fortunate to have a sustained and stentorian voice proclaiming,
anytime and anywhere, the virtues of our jurisdiction’s financial services sector.
Over recent years we have seen increasing numbers of listings of corporate and sovereign debt securities on the Cayman Islands Stock Exchange (the “CSX”), in particular loan notes and payment in kind (PIK) notes issued in connection with private equity and venture capital (“PE and VC”) investments. Over the last 18 months Travers Thorp Alberga have acted for the issuer on a number of new PE and VC note listings.
‘All the better to get the facts. I just want to get the facts, ma’am.’ Sgt Joe Friday, Dragnet An investigation of the Cayman Islands’ International Cooperation Regime
The Firm represented the buyer group in the privatization of China Ming Yang Wind Power Group Limited (MY-NYSE) by way of Cayman Islands statutory merger.