iNews Briefs
Joel Walton, Cayman Islands MACI CEO, arrested and charged with assault on female
The Chief Executive Officer of the Maritime Authority of the Cayman Islands (MACI) Shipping Registry, Joel Walton, was arrested just after midnight on Wednesday 25th February by uniformed officers of the Royal Cayman Islands Police Service (RCIPS).
A RICPS spokesperson confirmed Friday that a senior public servant was arrested and charged with actual bodily harm, insulting the modesty of a woman and causing fear or provocation of violence.
Walton appeared before the Summary Court on Thursday and was bailed to return on 10th March.
BVI/Cayman Islands: In midst of police probe, officer reinstated
By Ken Silva From the BVI Beacon
At least one of the five police officers interdicted late last year as a result of an anti-corruption probe was reinstated to the police force last Thursday.
The reinstated officer is Detective Marlon Primo, a member of the force for at least 10 years.
“As a result of a decision made by the Director of Public Prosecutions, one of the officers in relation to the Operation Lucan corruption allegation probe has been reinstated to full police duties,” Police Information Officer Diane Drayton confirmed yesterday. “The investigation is still ongoing, and therefore we will make no further comments.”
Mr. Primo’s attorney, Stephen Daniels, wouldn’t comment on what his client was being investigated for, other than to say that he had been accused of “giving out information.”
This reporter invited Mr. Primo to comment on the matter through Mr. Daniels, but did not receive a response from the officer.
Attempts to reach Royal Cayman Islands Police Service Commissioner David Baines, who was appointed to head the corruption probe earlier this month, were also unsuccessful.
Last August, four officers were placed on forced leave as a result of the investigation. They were interdicted in October, and another officer was interdicted in November.
Four officers from the United Kingdom were selected to commence an independent inquiry into the allegations. Those investigators began “Operation Lucan” on Nov. 10, reporting directly to Police Commissioner David Morris and Director of Public Prosecutions Wayne Rajbansie.
On Feb. 11, Mr. Baines was appointed to replace Mr. Morris and head the investigation with Mr. Rajbansie.
Ms. Drayton explained that Mr. Morris requested a change in leadership to ensure that the investigation is independent from any interdepartmental influence.
The specific allegations have yet to be made public.
Caribbean law students join the fight against human trafficking
From Repeating Islands
Jason Nathu (Global Voices Online) writes about students from the Hugh Wooding Law School in Trinidad and Tobago and their project to encourage the public to join the fight against human trafficking. The students—Anessa Anderson and Sharla Weir of Barbados, Stefan Knights from Guyana and Nadia Scott from Trinidad and Tobago—chose the project as part of their participation in the law school’s Human Rights Law Clinic; they were among 16 students who advocated for various human rights concerns.
[. . .] The initiative, which was branded “Join The Fight”, consisted of a public service announcement, a short video on human trafficking in Trinidad and Tobago, and volunteering their time at an event organised by the Trinidad and Tobago Rape Crisis Society, in which the group assisted in the distribution of learning materials and in role playing. They also advised victims of rape and domestic violence about the human trafficking laws in Trinidad and Tobago. The logo used in the campaign was designed by Dane Elliott-Hamilton, a fellow student at the Hugh Wooding Law School.
Trinidad and Tobago has been described as a destination, source, and transit country for human trafficking, specifically as it relates to forced prostitution, and children and men in conditions of forced labour. The students collaborated with their charity of choice, the Caribbean Umbrella Body for Restorative Behaviour (CURB), providing promotional materials to the organisation and eliciting CURB’s expertise as a support body for both criminal offenders and victims in their research for the project:
“We identified the CURB as the most prominent NGO which addresses human trafficking at the policy and ground level. […] we volunteered our time with the CURB […] This experience was definitely an amazing one as the members of the group were able to impart knowledge of a critical human rights area in the country and educate the vast number of persons who were in attendance on that day.”
The students also created a public service announcement, to be distributed digitally and broadcast on local television stations.
For full article, see http://globalvoicesonline.org/2015/02/26/caribbean-law-students-join-the-fight-against-human-trafficking/
Cayman Netball: UCCI, All-Stars tip off league
From Digicel Sportsmax
Cayman netball league resumes today without the defending champion Roma.
The nine-team league tips off with UCCI taking on All-Stars A and Socialites facing Lights International, at the Truman Bodden Sports Complex.
Andrea Gumbs, the newly-appointed netball technical director, will be introducing a Player of the Match award, with the player receiving the most nominations winning a prize at the end of the season. Gumbs said she would like to see more players, coaches and volunteers involved in local netball.
She revealed that an adult league program is on schedule and that there will also be format changes. A new scoring system will also be put in place.
For more: http://www.sportsmax.tv/?q=articles/2015/02/26/cayman-netball-ucci-all-stars-tip-league
Regional YMCA leaders visiting Cayman Islands
(YMCA) Grand Cayman welcomed global and regional leaders of the YMCA last weekend at a “Founders & Friends” gathering event at the Westin resort on Friday (27).
YMCA World Alliance secretary general, the Rev. Johan Eltvik, was the keynote speaker at the event that also welcomed the secretary general/chief executive of the Latin American and Caribbean Alliance of YMCAs, Antonio Merino.
“Having the two highest ranking YMCA professionals of our regional and global movement coming to Cayman is a great honor for our Y in the Cayman Islands,” said YMCA Cayman CEO, Greg Smith. “Rev. Eltvik is a passionate leader of our cause, representing the 119 countries where the YMCA is present. As you can imagine, from places like Nigeria and the Ukraine to areas in the Middle East, Johan has some very interesting stories to share about how the YMCA is addressing individual community needs.
“Rev. Eltvik is also an excellent speaker and will inspire a better understanding of how our small island is part of a much bigger picture of Y service and significant impact around the world.”
Since its inception in Cayman, the YMCA has hosted several day camps during school breaks, developed a teen leaders programme, provided support for the government’s after-school program, and has created several key partnerships with organizations across Cayman.
For more information about the YMCA of the Cayman Islands, or if interested in becoming a Y Founder or friend, visit the website: www.ymcacayman.ky
Student fights to get money back from airline
By: Rachel Spotts From WHEC Rochester
Imagine spending almost $900 on a plane ticket only to have your flight canceled and your money not returned. That’s exactly what one local college student says happened to her, so she called News10NBC for help.
Lauren Walravens says, “I was extremely excited.”
She says, “I never go on vacation.”
Walravens, a student at MCC, was set to go to the Cayman Islands for a family vacation during February break. You can imagine her disappointment when the flight was canceled by the airline at the last minute.
She says, “I couldn’t even believe it happened. I was in denial.”
To make matters worse, Walravens says the airline she booked through, U.S. Airways, never refunded her money.
She says, “They told me they were giving me all my money back, and I’m just wondering where the rest of my money is.”
She says U.S. Airways refunded some of the money about $150 out of a total of $887. After calling and emailing multiple times, Walravens says she never got an answer as to why they never refunded the total amount.
“I’m trying and trying and they would either have me on hold for hours or they would direct the call to just hang up,” says Walravens.
We called U.S. Airways Friday afternoon and were told the company will give Walravens a full refund. She just hopes it actually happens.
“I’m twenty years old,” says Walravens. “I go to college and pay my own bills for everything. My whole vacation was ruined and that’s a lot of money to just not have.”
Late Friday evening, U.S. Airways contacted Walravens and said they would refund the remainder of the money.
For more: http://www.whec.com/news/stories/s3719920.shtml?cat=565
Cayman Edition of The Observer Table Talk Awards 2015
The Best Dressed Chicken will be hosting the media launch of The Observer Table Talk Awards 2015 that will be held in Cayman for the first time in October (Restaurant Month).
The launch will be held at the Marriot Hotel on March 19, 2015
The show has been hosted in Jamaica and Trinidad over the last 15 years, however Cayman is a key culinary destination in the Caribbean so the synergies are endless.
The Observer Table Talk Awards is a true celebration of all facets of the culinary industry.
The renowned festival showcases restaurants, chefs, wine connoisseurs and food enthusiast from a variety of cuisines.
See link below with highlights from previous staging: http://www.jamaicaobserver.com/foodawards/
Pinnacle Media along with Chef Keith Griffin participated in the event in Jamaica in 2013 and it was certainly a success – see link below with article: http://compasscayman.com/caycompass/2013/06/13/Chef-Keith-Griffin-cooks-up-a-storm-in-Kingston/
The organisers are currently working with Chef Vidyadhara Shetty – the president of the Cayman Culinary Society and Chef Griffin to make this event a success.
Neil Robson quoted in HFMWeek Article “Cayman reduces liability of Hedge Fund Directors”
From Katten
Financial Services partner Neil Robson was quoted in an article on the Cayman Islands Court of Appeal decision that reduced the liability of Weavering Macro Fixed Income Fund directors in the fund’s collapse. In 2011, a Cayman Grand Court judgment ruled the directors were liable for $111 million in losses, and on February 12, 2015, the appellate court overturned the judgment, ruling that “willful neglect or default” had not been proven. Neil noted, “There is likely to be a significant reappraisal of professional directors’ contracts of appointment” as well as assessments of whether or not funds can appoint directors covered by such broad exculpation clauses. (“Cayman reduces liability of Hedge Fund Directors,” February 26, 2015)
For more: http://www.kattenlaw.com/70972
Haiti – Agriculture : The Caribbean Harvest will double its production of tilapia The Local Enterprise and Value Chain Enhancement (LEVE) modernization Project co-financed to the tune of $ 250,000 the Caribbean Harvest to enable them to double their production of tilapia, from 1.2 to 2.4 tonnes.
300 cages for fry will be provided to 150 farmers who live on Lake Azueï to allow them to breed fingerlings to market size. This co-financing will also be used to increase the capacity of solar equipment to 60 kilowatts to the Farm Harvest Caribbean “The LEVE co-financing will enable more farmers to produce tilapia, providing them and also to their families, improved livelihoods,” stressed Dr. Valentin Abe, CEO of Caribbean Harvest.
Although Haiti has over 1,000 km of coastline, the annual fish consumption per person is only 4.4 kg compared to 19.2 kg per person in the world. 70% of fish consumed in Haiti are imported and therefore relatively expensive on the local market. By increasing the production of tilapia in Haiti, which is cheap, Caribbean Harvest contribute on the one hand to improve the health of Haitians, who have a poor protein diet and also this increase in fish production locally, reduce the foreign expenditures devoted to import.
Caribbean Harvest and LEVE believe that aquaculture is a promising new industry for Haiti because it creates jobs and a source of inexpensive and nutritional food. It also has considerable potential for exports of tilapia in the Caribbean. LEVE will assist Caribbean Harvest to promote the development of more productive and inclusive sectors, likely to contribute to growth based on a broad economic base.
About LEVE :
The objective of the LEVE project is to assist its Haitian partners to create economic growth through capacity building and job creation. LEVE facilitates more productive and inclusive value chains that increase economic growth. LEVE works with Micro, Small and Medium Enterprises (MSMEs) to improve and strengthen their capacity and competitiveness. LEVE also works with technical and vocational schools to help them improve their study and placement program. Project LEVE extends from 2013 to 2016 and is funded by the US Agency for International Development (USAID).
Deloitte’s Ray Iler joins EY Wealth & Asset Management
Ray Iler, former regional leader of Deloitte’s hedge fund practice on the West Coast, has joined the Financial Services Organization’s Wealth & Asset Management practice of Ernst & Young LLP. Iler, who also served as the lead of Deloitte’s Emerging Manager Platform will provide professional services to EY’s hedge fund, private equity and venture capital clients. Iler was also the audit lead for Deloitte’s Growth Enterprise Services team in San Francisco.
“We are extremely pleased to welcome Ray to EY as he is a highly-respected leader in the asset management industry,” said Mike Serota, a Partner with Ernst & Young LLP and co-leader of EY hedge fund services. “Ray’s arrival also continues to solidify the firm’s reputation as a leading service provider for the West Coast alternatives fund sector.”
Iler also founded the tax practice and served as audit partner for Deloitte’s Grand Cayman practice, where he advised clients on investment fund structuring, due diligence procedures, service provider selection and incentive fee structuring. Prior to joining Deloitte’s West Coast practice, Iler served as Chief Financial Officer and Corporate Secretary for Quadrise Canada Corporation, a private equity backed oil and gas technology company.
“I look forward to helping anticipate market trends, identify their implications and develop points of view on relevant sector issues for clients,” said Iler. “EY’s Financial Services Organization model is a true differentiator and working together, we can help clients meet goals and compete more effectively.”
While in Cayman, Iler also served as a manager for Bank of Bermuda Cayman Limited’s corporate banking team where he was responsible for the investment management, custody and brokerage services delivered to investment funds and to high net worth individuals. In addition, he was the Capital Markets Group Head for UBS (Cayman Island) Ltd., where he managed back-office operations for UBS-sponsored and third party investment funds and served as a director of those funds.
Iler is a CFA charterholder and past president of the CFA Society of the Cayman Islands, a former director, treasurer and founding member of the Alternative Investment Management Association’s Cayman Chapter, a CPA and a Canadian Charter Accountant. He currently sits on the West Coast Board of Hedge Funds Care.
Iler received a Bachelor’s degree of Commerce with a concentration in Accounting and Finance from the University of Alberta.
CXC January results released online
From Caribbean News Now
BASSETERRE, St Kitts (EMU) — Candidates who wrote the January 2015 sitting of the Caribbean Examinations Council (CXC) can access their results online as of Thursday. This is according to local CXC registrar Solomon Claxton.
The results are available on the website ors.cxc.org/studentportal. Candidates will have to enter the centre number which is comprised of the first six digits of their registration number.
Claxton said students should simplify the process by ensuring that they have pertinent information prior to attempting to log in. This includes “date of birth” and “period” which should be entered as 2015 JANUARY CSEC. An email address and telephone number will also be required.
The registrar said students should be aware that they will have to log out and log in again prior to viewing their results.
In related news, students registered for the May-June 2015 examinations will benefit from new features on the students portal such as being able to access Microsoft Office applications; cloud storage facilities; incorporate individual timetable entries and other events in a personal calendar; communicate via e-mail provided by CXC as well as receive broadcasted messages from CXC.
Claxton said that Internet Explorer should be the browser of choice as others have proven to be problematic in the past.
For more: http://www.caribbeannewsnow.com/topstory-CXC-January-results-released-online-25006.html
Cayman Islands Auditors Oversight Authority joins International forum
The Cayman Islands Auditors Oversight Authority (AOA) has announced that the Authority’s application for membership in the International Forum of Independent Audit Regulators (IFIAR) has been approved and AOA is now a member of IFIAR.
AOA was established in 2011 to regulate and supervise auditors in the Cayman Islands who audit the accounts of market-traded companies. IFIAR was established in 2006 to share knowledge and practical experience of independent audit regulatory activity, promote collaboration in regulatory activity, and provide a focus for contact with other international audit regulators around the world.
There are more than 46 independent audit regulators who are members of IFIAR.
Herbalife posts lower 4Q profit as sales slip
From CNBC
(AP) Herbalife Ltd. on Thursday reported that its fourth-quarter net income fell 16 percent to $103.3 million as sales slipped.
The George Town, Cayman Islands-based company said it had net income of $1.21 per share, compared with $123.5 million, or $1.15 per share, a year earlier. Earnings, adjusted for non-recurring costs, came to $1.41 per share, better than the average analyst estimate of $1.22 per share, according to FactSet.
The seller of supplements and weight-loss products posted revenue of $1.13 billion in the period, down 11 percent year over year. Analysts expected $1.16 billion, on average.
Herbalife attributed the sales decline to the effect of the stronger dollar, which has hit a number of companies with international business. Excluding the impact of currency, sales were flat, Herbalife said.
For the full year, Herbalife posted net income of $308.7 million, or $3.40 per share, on revenue of $4.96 billion.
Looking ahead, the company lowered its full-year adjusted profit outlook, citing the continued impact of currency. It now expects between $4.10 and $4.50 per share. That compares with its prior range of $5.45 to $5.75 per share.
Herbalife shares slipped 32 cents to $34.50 in extended trading. They have dropped almost 8 percent since the beginning of the year and 48 percent over the past 12 months.
The company has been embroiled in an ongoing battle with activist investor Bill Ackman, who runs Pershing Square Capital Management. Ackman has bet heavily against the stock, describing Herbalife as a pyramid scheme, a characterization the company rejects.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLF at http://www.zacks.com/ap/HLF
For more: http://www.cnbc.com/id/102460819
Cruisin’ 4 Alzheimer’s Care offers chance at Royal Caribbean cruise
By Jessica Hauser From LOG CABIN
Alzheimer’s Arkansas will give away a 7-day Royal Caribbean cruise during its second annual Cruisin’ 4 Alzheimer’s Care event on Saturday, March 7, Melissa Longing of the Conway chapter said last week.
“Alzheimer’s disease is the most common form of dementia disorders, and it affects more than 100,000 Arkansans,” she said.
The event will be held at the Conway Country Club featuring the band Suburban Legend and radio personality Sharpe Dunaway.
Longing said the goal is to raise $13,000 to support families and caregivers of people living with Alzheimer’s disease.
“We’ll have silent and live auction items, food, drinks, sports memorabilia as well as the chance to win the cruise,” Longing said.
She said Alzheimer’s Arkansas is seeking sponsorships from local businesses and individuals.
A $100 donation buys entry to the event for two people, a total of four drink tickets and two raffle tickets for the cruise giveaway.
Individual tickets are being sold for $35 each or $60 for couples, and raffle tickets are one for $10 or three for $25, she said.
For more information, contact Melissa Longing at 501.733.2457.
Lionfish stalked and devoured by grouper [in Cayman Islands waters] in shocking video
By Bryan Hood From New York Post
Well, that’s one way to take care of the Caribbean’s lionfish problem.
A new and rare video has surfaced showing a grouper chowing down on a colorful lionfish off the coast of the Cayman Islands.
In the shocking footage, the much larger fish can be seen stalking its beautiful striped prey for a number of minutes, before luring it into open water and snapping it up in its jaws.
The footage, which was captured by a group of divers on Feb. 1, was obtained by Lionfish University, a non-profit organization hoping to raise awareness about the lionfish invasion of the Caribbean.
Lionfish, a non-native species to the region, have wreaked havoc with the marine ecosystem in the decades since they were introduced.
For more and video go to: http://nypost.com/2015/02/26/lionfish-stalked-and-devoured-by-grouper-in-shocking-video/
Icelandic humpback in the Caribbean
From mbl.is
A humpback whale tagged with a satellite transmitter in the waters off Hrísey in Northern Iceland on 10 November 2014 is now, 110 days later, in the Caribbean.
The transmitter has provided daily updates on the whale’s movements. Never before has it been possible to track the movements of a humpback whale in the North Atlantic for so long and so accurately, says the Icelandic Marine Research Institute (‘Hafrannsóknarstofnun’).
The previous record for tracking a whale from Iceland was 101 days (27 August 5 December 2004), when a minke whale was intermittently followed on its journey to the west coast of Africa.
By yesterday, the humpback had reached within 200 nautical miles of the Dominican Republic and Puerto Rico, the site of well-known humpback breeding grounds known as the Silver Bank. The water temperature at this time of year is around 25°C.
Measurements show that the whale has swum at least 11,500km. The first 4,000km was a aimless swim around the waters off North-East Iceland in November and December. On 10 January, the humpback set off on its trans-Atlantic journey, covering 7,500km on a true south-west path.
The whale is now 6,200km, as the crow flies, from where it was tagged in Iceland. Its average speed on its journey across the ocean was 6.5km/h, which works out as 156km per day. The timing of the animal’s journey is somewhat curious, as it was thought that the humpback mating season in that area of the Caribbean ends in mid-March. There are, however, many unknowns in this regard, which particularly successful tagging operations such as this could help to remedy.
For more: http://www.mbl.is/english/news/2015/02/28/icelandic_humpback_in_the_caribbean/
Cayman Islands HSA speaks to High School students re employment
Health Services Authority (HSA) staff spoke to John Gray High School students about employment in the health industry.
The medical professionals from the Health Services Authority attended the career fair on the school’s campus on Wednesday, February 25, to share with the students the many opportunities that exist in healthcare.
“We hope we inspired many and assisted with their career decisions,” they said.
Large outflow of money witnessed in Royal Caribbean Cruises Ltd
By Joe Williams From Stafford Daily
Royal Caribbean Cruises Ltd (NYSE:RCL) managed to eke out gains of 0.15% in intraday trade. The share price increased by 0.12 points to $77.71. Till last observation, the net money flow was highly discomforting at a negative $(-4.28) million. The total inflow of $2.99 million in upticks was completely overshadowed by an outflow of $7.28 million in downticks, giving the up/down ratio a value of 0.41. The shares have seen a change of 2.02% in the past week.A block trade occurred in the counter in which the composite value of the upticks was $0 million and the composite value in downticks was $4.04 million. The resultant up/down ratio for the block exchange was 0. The block trade had a negative money flow of $(-4.04) million.
Royal Caribbean Cruises Ltd (NYSE:RCL) ended the trading day with a decline of 1.02% or 0.79 points. The intraday bulls never looked convincing as the stock moved only negligibly above the opening price but dropped well below it. The opening trade was registered at $77.98 and the price peaked for the day at $78.35. The level of $76.19 acted as a support and the last transaction was made at $76.8. Volume had zoomed to 2,309,662 shares. The previous closing price is entered as $77.59. The 52-week low of the share price is $49.65. The company has a market cap of $16,867 million.
Royal Caribbean Cruises Ltd. (Royal Caribbean) is a cruise company. As of December 31, 2012, the Company operated 41 ships in the cruise vacation industry across six brands with an aggregate capacity of approximately 98,650 berths. The Companys ships operate on a range of global itineraries, which call on approximately 455 destinations on all seven continents. Its global brands include Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France. These brands are complemented by its Pullmantur brand, which has been custom tailored to serve the cruise markets in Spain, Portugal and Latin America, and its CDF Croisieres de France brand, which provides it with a custom tailored product targeted at the French market. In addition, it has a 50% investment in a joint venture, which operates the brand TUI Cruises, tailored for the German market
For more: http://stafforddaily.com/large-outflow-of-money-witnessed-in-royal-caribbean-cruises-ltd/352593/
Cayman Islands: Deutsche Bank donates $100,000 to Derek Haines’ Six for Hospice campaign
Deutsche Bank has donated $100,000 to Derek Haines’ Six for Hospice campaign.
Speaking on CITN/Cayman27’s television news, the chief country manager for Deutsche Bank, Janet Hislop, said the employees have seen the hard work that Hospice Care continues to do in the community.
“The sort of work that they do touches so many lives and certainly form our employees perspective, they were keen to donate money to the cause,” she added.
The Six for Hospice campaign featured local runner Derek Haines running six marathons in 2014, He has raised $1 million for Cayman Hospice Care.
Scotiabank to close branch by Cayman Islands GT Airport
Scotiabank has announced the closure on May 29th of its Foster’s airport branch, in the Cayman Islands by the Owen Roberts International Airport in George Town. Customers will be transferred to its newest center in South Sound.
In a Press Release, Scotiabank, called the move “a consolidation,” that will “help us to concentrate our resources to better serve our customers in the future and remain competitive.”
The airport Foster’s operation employs 10 people, out of a total of 143 in the Cayman Islands.
The Release said the bank is “committed to supporting employees through this transition and staying true to our principles of treating employees fairly, equitably and with respect.
“In order to minimize the impact on employees, we will be providing staff with training opportunities to prepare for future positions while giving priority to impacted staff who are qualified for available positions within the bank.”
Cayman Softball: 35 girls entered for island’s Little League
From Digicel Sportsmax
Thirty-five girls from nine schools have so far registered for the girls’ softball division of the Cayman Islands Little League.
The teams have been in camp since the start of February. Three teams of girls, ages 11-17, will compete this season, and there is room for more.
Games will take place on Wednesdays from 6:30-8 p.m. and Saturdays from 4:30-6 p.m., from March 4 until June 6. Cayman Islands Little League is celebrating its 26th season. Since its inception, thousands of children have played baseball and softball free of cost, thanks to corporate sponsors and the wider community.
Owners of Cayman Islands hotel say they will try to prevent its sale
A spokesman for Restoration Cayman Ltd., the owners of Treasure Island Resort on the Seven Mile Beach, Grand Cayman, said on Thursday (26) will make full and complete payment of its debts and retain ownership of the hotel that they say was prematurely put on the market this week for $15.45 million.
The money owed to Scotiabank must be paid before an April 12 deadline. He said the company plans to invest in upgrading the resort itself.
In a statement to the Cayman Compass, Harry Lalli, general manager of Treasure Island, said, “Treasure Island cannot be conveyed until after April 12. Restoration Cayman, the borrower under the Scotiabank loan fully intends to make a full and complete payment on the loan prior to April 12, thereby terminating the receivership and eliminating any possibility of a transfer of the property after April 12.”
Treasure Island, which currently caters largely to a mix of tourists and long-stay guest workers, was listed for sale by real estate agent Re/Max at the request of the bank, according to realtor Kim Lund.
SOURCE: http://www.compasscayman.com/caycompass/2015/02/27/TI-owners-aim-to-prevent-hotel-sale/
Maples and Calder appoints five Cayman Islands partners
From Cayman Funds
Law firm Maples and Calder has strengthened its team with the appointment of 12 new partners across its global offices.
The new partners in the Cayman Islands office include Greg Barwick, Philip Dickinson, Patrick Head, Andrew Keast and Patrick Rosenfeld.
Ian Conlon, Stephen McLoughlin, Eimear O’Dwyer, Enda O’Keeffe and Ciara O’Leary were appointed as partners in the Dublin office and Manuela Belmontes and Harjit Kaur were elected in the Dubai and London offices, respectively.
Henry Smith, global managing partner, said: “It is with great pleasure that we announce the elections of these talented and dedicated professionals, each of whom has demonstrated expertise in their practice areas and a commitment to providing excellent client service. With these appointments, Maples and Calder now has over 100 partners worldwide for the first time in the firm’s history.”
For more: http://www.caymanfundsmagazine.com/news/maples-and-calder-appoints-five-cayman-partners-301
