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Community Events
Grand Court Jurors Report Date Changed
The Grand Court jury report date has been changed.
Grand Court Jurors who are in the 1 July – 6 October 2015 session, please be advised that the jury report date of Monday, 17 August 2015 has been changed. You are now to report for jury duty on Thursday, 20 August 2015 at 9:45 a.m.
Please call the Jury Information line at 945-5072 for the most up-to-date information.
RCIPS asks the public to exercise caution when solicited for donations on the street
Due to a recent report of potentially illegitimate solicitations for donations by children on the waterfront and elsewhere in George Town, the RCIPS would like to advise the public to exercise caution when approached for donations on the street. If approached for donations by children, it is advisable to ask the name of the school conducting the fundraiser, the name of the student and parent, and then call the school to confirm that a child by that name is in fact a student. Similarly, if asked in public for donations to a charity, it is advisable to obtain the name of the charity and confirm that it is listed on the Cayman Islands Registry. Charities are categorized as businesses on the registry, which can be searched at www.ciregistry.gov.ky.
The RCIPS does not discourage donations to charity or to school fundraisers, but only advises the public to confirm the legitimacy of the donation request. If it does appear that you may have been solicited to make a donation on false pretenses, please contact the RCIPS Financial Crime Unit at 649-8797.
Annual Meals on Wheels Dress Down Day
SAVE THE DATE
Dress Down Day Friday, 20th November, 2015
Help feed our Seniors we believe no-one in Cayman should go hungry.
Individuals can help by purchasing an orange ribbon for $5.00 or a tee shirt for $15.00 and wearing them on Dress Down Day, we are encouraging companies to match employee donations.
For more information or to sign up to participate please feel free to contact us via email at [email protected] or via telephone at 949-3905.
The Lions Club of Tropical Gardens Presents a Diabetes Health Fair
Free A1C Testing
By the Cayman Islands Diabetic Association (CIDA) For Persons with diabetes and a
strong family history of Diabetes.
Where: Church of God of Prophecy, Eastern Avenue, George Town
When: Saturday 29th August , 2015
Time: 9:00 a.m. to 12:00 noon
CARE announces Cayman Islands 5th Annual Paws for wine
Sat Sept 26th Ristorante Pappagallo
TUE 18 AUG
Financial Assistance Meeting George Town
There will be a financial assistance meeting in George Town on Tuesday (18 Aug) at 7pm. The location will be announced later.
WED 19 AUG
Department of Vehicle & Drivers’ Licensing
The Department of Vehicle & Drivers’ Licensing wishes to inform the public that both offices (West Bay & Crewe Road) will close on Wednesday, 19th August 2015 for a staff retreat.
Normal hours of operation will resume on Thursday, 20th August for the West Bay Office from 10am to 6:00 pm and the Crewe Road Office from 8:30am – 4pm.
The management and staff wish to apologize for any inconvenience this necessary closure will cause.
2015 Orientation Dates for Cayman Islands Government Schools
Released on behalf of the Education Ministry.
Cayman Islands Premier claims documents in legal battle with Opposition leader are forged
Documents in the possession of Cayman Islands Deputy Leader McKeeva Bush that give weight to his claim the Premier, Alden McLaughlin was part of a plot to oust him from power are false.
McLaughlin said in the Legislative Assembly last Thursday that the communication between Commissioner of Police David Baines and previous Governor Duncan Taylor carry a false signature from the Commissioner.
The Royal Cayman Islands Police Service have confirmed they are investigating the matter that is serious and the Commissioner will not be involved in the investigation.
Cayman Islands Government dodges the bullet
On June 30th this year all the government loans became due amounting to CI$30M. The huge amount of debt was due to what is known as bullet or balloon payments from the previous loan agreements.
However, the government was able to doge the bullet by re-financing the debt with a loan from CIBCFirst Caribbean Bank that also guaranteed the refinancing of nearly US$37M in debt owed by the Cayman Islands Development Bank.
The Legislative Assembly approved the loan over 10 years with a variable interest rate of 1.425% unanimously last Wednesday (12).
CIBCFirst Caribbean Bank was one of three bids received from a competitive tender process.
FedEx plane crashes near Dutch Caribbean Island of Saba. Pilot survives
IMAGE: Fedex Cessna Caravan Plane After Crashing in Waters off Saba. Photo by SKB Energy
On Wednesday (12) a small FedEx Caravan plane crashed into the sea near the island of Saba. According to reports from Saba, emergency services were alerted about the crash and rushed to the harbour called Fort Bay.
Aviation authorities from the Netherlands are carrying out an investigation since the plane crashed in an area that is under Dutch jurisdiction.
The small single engine plane flew from Puerto Rico on its way to St. Kitts when the aircraft according to reports experienced engine problems.
The pilot according to preliminary reports was rescued by a passing yacht. He was then taken to Fort Bay where the emergency services transported him to the A.M. Edwards Medical Center in The Bottom (capital town of Saba) where he was initially treated.
Cayman Airways receives new plane
Cayman Airways new addition to is fleet was unveiled last Friday (14) at a ceremony at Owen Roberts International Airport. Grand Cayman.
The new plane. A 34-seat Saab 340 B+ will service Cayman Brac,
Phillip Rankin, Chairman of Cayman Airways Board of Directors, said the plane was as “efficient as the Twin Otter [the plane currently used], in terms of the fuel burn, but it carries about two and a half times the amount of passengers.”
The plane is currently being leased but they have the option to purchase it outright at any point.
The Saab 340B+ is due to make its inaugural flight from Cayman Brac to Grand Cayman later next month. – See MAIN STORY
Caribbean man wants to be FIFA’s boss
From CANA
ST.JOHN’S, Antigua, Aug 12, CMC-Former Trinidad and Tobago international David Nakhid has announced his candidacy for the position of president of Football’s World Governing Body FIFA.
Nakhid, who played 35 times for Trinidad and Tobago, made the announcement in a radio interview in Antigua on Tuesday.
For more: http://cananewsonline.com/sports/110603-caribbean-man-wants-to-be-fifa-s-boss.html
Cayman Islands just fail to reach U-15 Football Final
A disputed handball call by the referee gave the Dominican Republic a lucky penalty kick in the first five minutes of their game with the Cayman Islands at the Caribbean Football Union Championships.
Dominican Republic won the game 1-0 despite the Cayman Islands having most of the play. This meant Cayman Islands will now play for the third team placing.
The penalty was given for handball against Cayman’s Corey Mellaneo. – SEE MAIN STORY.
Caribbean-based company accused of providing products to Syria
From News Americas
News Americas, WASHINGTON, D.C., Thurs. Aug. 13, 2015: An energy company based in the Caribbean has been accused of providing energy products to the Syrian government of Bashar Assad.
Blue Energy of P.O. Box 556, Charlestown in Nevis, West Indies has been slammed by the US Treasury Department, along with 11 other companies and individuals globally, for providing the energy products the Syrian government is using in the conflict there.
Blue Energy’s assets will be frozen and no American will be allowed to do business with them. It is the lone Caribbean registered company accused. The company is linked to Milenyum Energy S.A
The US Treasury said many of those targeted are front companies the Syrian government has used to evade U.S. and European Union sanctions.
For more: http://www.newsamericasnow.com/caribbean-based-company-accused-of-providing-products-to-syria/
Miss Cayman Islands leaves to prepare for Miss Universe
Tonie Chisholm, Miss Cayman Islands is off overseas to prepare for the Miss Universe pageant. No date for the pageant has been announced although the venue is said to be in China.
Two arrested in Bahamas after posting images of guns and drugs on social media
From Caribbean360
IMAGE:TWO OF THE PHOTOS POSTED ON SOCIAL MEDIA SHOWING THE BABY WITH A GUN AND WHAT APPEARED TO BE A BAG OF MARIJUANA.
NASSAU, Bahamas, Friday August 14, 2015 – Police have arrested a man who posted photographs online of a baby with a gun and drugs on his lap, as well as a woman who was seen in pictures carrying a high-powered assault firearm, warning citizens who use social media in this way that they would not be able to hide.
The 20-year-old woman was held yesterday for questioning in relation to firearm possession.
Lawmen said her arrest was a result of an investigation launched after several photos were posted on various social media sites.
The detention of a 26-year-old man in connection with the other controversial posts came earlier in the week.
The image of an infant with a handgun – captioned “Daddy buy me a new toy” – and another showing him with a package of what appeared to be marijuana on his lap, had been making the rounds on Facebook and WhatsApp, prompting police to initiate a search for the person responsible.
The suspect was arrested shortly after 11 o’clock on Tuesday night.
“Police are issuing a stern warning to social media users who break the law that they will be tracked down and be dealt with robustly, according to the law,” a statement from the Royal Bahamas Police Force said.
Roy Pierre & Associates present ‘The Jolly Roger’
By Mervyn Taylor From Caribbean Life
Photo by Keith Getter “The Jolly Roger” costume designs for J’ouvert 2015 on display at band launch.
It is early morn. Dawn is just breaking over the warm waters of the Caribbean. A British frigate is sailing through the islands loaded with fine laces and linens and other furnishings meant for the fancy ladies and homes of British plantation owners. In the growing light, the sailors on deck notice a smaller, faster ship coming up on their starboard side. Suddenly, as it draws closer, its flag, which looked French, disappears and in its place rises one with a black background, a skull and crossbones in the center-the Jolly Roger, dreaded symbol of pirates everywhere.
For Labor Day J’ouvert 2015, in their presentation, The Jolly Roger – Pirates & Mermaids, Roy Pierre & Associates will reenact such an event, the ensuing capture of lords and ladies, with their wigs and their trunksful of jewels and gold and pearls. In the battle, many pirates perish, and their encounter with beautiful mermaids in the rapturous deep, forms part of the dramatic tableau the band will be featuring.
With a cast of characters including infamous pirates such as Blackbeard and Calico Jack and Captain Morgan, female pirates such as Anne Bonnie, Mary Read, and Sadie The Goat, swashbucklers like Sir Francis Drake and Walter Raleigh, followed by sections such as Plunderers, Shipwreck Sallies, Rose Bloods, the Shanghai Crew, Deckhands and Riggers, interacting with shimmering, seductive Mermaids, once again this 16-time Band of The Year winning organization promises an exciting display of costumes, with the usual full impact of street theater.
Costumes are on display nightly, from now until Sept. 6, 6 pm to 1 am, at the band’s new mas camp, 204 Parkside Ave., between Flatbush and Ocean avenues, obliquely opposite the Q train subway station. The band Pan Liberty will supply music. Join another winning spectacle. For further information, call (718) 282-1229, or (718) 462-5164.
For more: http://www.caribbeanlifenews.com/stories/2015/8/2015-08-10-sub-jolly-roger-cl.html
Antigua and Barbuda paving way for accession to CCJ
From CARICOM
JOHN’S, Antigua and Barbuda – Prime Minister the Honourable Gaston Browne and Leader of the Opposition United Progressive Party the Hon. Baldwin Spencer, in the presence of Governor-General of Antigua and Barbuda Sir Rodney Williams have signed a Memorandum of Understanding on Constitutional Reform paving the way for the country’s accession to the Caribbean Court of Justice in its Appellate Jurisdiction.
Currently the Privy Council in the United Kingdom is the final court of appeal for Antigua and Barbuda. Moving from the Privy Council as the final appellate court requires a change in the Antigua and Barbuda Constitution via a referendum.
The MOU, which was witnessed by Attorney-General the Hon. Steadroy Benjamin and also signed by Political Leader of the United Progressive Party, Harold Lovell, was done also in the presence of President of the Caribbean Court of Justice, the Right Honourable Sir C. M. Dennis Byron. It calls for a bipartisan approach during consultations leading up to the referendum.
Latin American and the Caribbean debt management specialists meeting
From Caribbean broadcasting Corp.
Finance Minister Chris Sinckler says more collaborative approaches are needed to deal with debt in Caribbean countries.
He says this is necessary as several Caribbean countries incur debt when embarking on developmental initiatives.
He was speaking at the eleventh annual meeting of the group of Latin American and the Caribbean debt management specialists, at the Hilton Hotel Wednesday morning.
The finance minister reiterated calls for an international debt relief programme for countries with small and vulnerable economies.
Director of the Caribbean Policy Research Centre Dr Damien King, maintains that there are several lessons which can be learnt from the Greek economic situation.
Among them he says is the need for governments to be wary of cheap loans and the importance of debt relief to countries.
He was delivering a presentation at the Hilton entitled the World Economic Perspectives and its Impact on the Public Debt Management: Lessons of Greece.
Registration now open for CSA’s 45th AGM in Cartagena, Colombia
From Caribbean Shipping Association
Maritime interests from the Caribbean, Latin America, North America and Europe can now register to attend The Caribbean Shipping Association’s (CSA) 45th Annual General Meeting, Conference and Exhibition, which will be held in Cartagena, Colombia from October 19 to 21.
The CSA has collaborated with the Sociedad Portuaria Regional de la Cartagena (SPRC) to host this year’s critical meeting in the beautiful Cartagena de Indias, Colombia, a country rich with cultural diversity.
The 3-day conference will be staged at the Intercontinental Hotel de Indias, where owners, shipping executives, industry leaders and renowned international speakers will address key maritime issues. The meeting will also see exhibitors from across the world showcasing equipment and products that are of interest to companies operating within the Maritime Sector. The annual event will end with a Gala during which the CSA’s Port of the Year award will be announced.
CSA Members are invited to take advantage of discounted fees as listed below:
Early Bird Registration Fee of US$800 (ends September 4, 2015)
Regular Registration Fee of US$900 (starts September 5, 2015)
For Non-Members:
Early Bird Registration Fee of US$1, 000 (ends September 4, 2015)
Regular Registration Fee of US$1, 100 (starts September 5, 2015)
The CSA has also managed to negotiate the following special all-inclusive rates at the Intercontinental Hotel for delegates attending the conference:
Single Occupancy – $215/night
Double Occupancy – $215/night
These rates include taxes, services and breakfast for one occupant.
Delegates are being asked to forward their reservation preferences along with itineraries to the Secretariat at [email protected] to facilitate reservations until the online link becomes available.
The CSA, the voice of the Caribbean shipping industry, was established in 1971 to facilitate development of an efficient, viable Caribbean shipping industry. Conferences hosted by the CSA provide a forum in which matters relevant to the growth and development of Caribbean shipping are discussed.
To register: http://www.caribbeanshipping.org/index.php/news/97-registration-now-open-for-csa-s-45th-agm-in-cartagena-colombia
$125 million settlement reached for Madoff investors
By Celia Ampel, From Daily Business Review
A team of Fort Lauderdale attorneys helped negotiate a $125 million settlement with a financial services company accused of breaching its obligation to investors who lost money in Bernard Madoff’s massive Ponzi scheme.
“We believe this to be by far the largest investor class action settlement with an administrator or custodian involved in the Madoff fraud,” said Stuart Singer, co-lead counsel for the plaintiffs and managing partner of Boies, Schiller & Flexner’s Fort Lauderdale office, in a statement Thursday.
Citco Group Ltd. had contracts with feeder funds involved in the scheme and allegedly failed to provide investors with accurate information about the quality of those funds. Dutch and Canadian divisions of PricewaterhouseCoopers face similar allegations from the same plaintiffs in a case set for trial in January.
The settlement was filed Wednesday and awaits approval in the U.S. District Court for the Southern District of New York. Retired U.S. District Judge Layn Phillips served as mediator in three full-day sessions over the course of two years.
In addition to Singer, the plaintiffs lawyers include Boies Schiller attorneys Eli Glasser, Sashi Bach and Carlos Sires in Fort Lauderdale, and David Barrett and Howard Vickery in New York; Robert C. Finkel of Wolf Popper in New York; and Christopher Lovell and Victor E. Stewart of Lovell Stewart Halebian Jacobson in New York.
Citco’s lawyers are Brad S. Karp, Leslie Gordon Fagen, Allan J. Arffa, Walter Rieman and Andrew G. Gordon of Paul, Weiss, Rifkind, Wharton & Garrison in New York.
Madoff is serving a 150-year sentence in federal prison for engineering the largest swindle in U.S. history. About $65 million was missing from client accounts, and the Securities Investor Protection Corp. estimated actual losses at $18 billion.
Caribbean cat pool reveals pay-outs; entices Central American members
From Intelligent Insurer
What was formerly the Caribbean Catastrophe Risk Insurance Facility (but has since been rebranded the CCRIF SPC) paid out $3.4 million to three member governments under its excess rainfall coverage last year – a policy only introduced that year.
One of these pay-outs was made to the Government of Anguilla after the passage of Hurricane Gonzalo, which did not trigger that country’s hurricane policy – which is based on wind speed and storm surge.
The other three payments, including a second to Anguilla, were due to two trough systems that were not part of a tropical cyclone but which caused considerable damage to the affected countries. Barbados and St. Kitts & Nevis were the other two recipients of pay-outs.
CCRIF SPC also revealed that all its 16 member governments have renewed their hurricane policies; all 13 that had earthquake policies renewed those; and 12 obtained excess rainfall coverage – an increase of four compared with the eight countries that purchased excess rainfall policies for the first time last year.
The countries that purchased excess rainfall coverage for the first time in 2015/2016 were Antigua & Barbuda, The Bahamas, Jamaica and the Turks & Caicos Islands.
CCRIF’s first Central American member, Nicaragua, purchased hurricane and earthquake policies and discussions are proceeding with other Central American countries for hurricane, earthquake and excess rainfall coverage.
CCRIF also revealed that for its 2015/2016 policies, it has offered countries a premium package that included a 50 percent discount for hurricane and earthquake policies and 15 percent discount on excess rainfall policies, to try and keep costs down.
The US National Oceanic and Atmospheric Administration (NOAA) has predicted a below-average number of storms during the Atlantic Hurricane Season, which ends on November 30. However, it still forecasts six-11 named storms, three to six hurricanes and 0-12 major hurricanes in the Atlantic this year, which could have a sever effect on the region.
The CCRIF SPC was formerly known as the Caribbean Catastrophe Risk Insurance Facility.
CCRIF SPC, Government of Anguilla, NOAA, North America
For more: http://www.intelligentinsurer.com/news/caribbean-cat-pool-reveals-pay-outs-entices-central-american-members-6224
WUXI Pharmatech enters into definitive merger agreement
SHANGHAI, Aug. 14, 2015 /PRNewswire/ — WuXi PharmaTech (Cayman) Inc. (“WuXi” or the “Company”) (NYSE: WX), a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries with operations in China and the United States, today announced that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with New WuXi Life Science Limited (“Parent”) and WuXi Merger Limited (“Merger Sub”), a wholly owned subsidiary of Parent.
Pursuant to the Merger Agreement, Parent will acquire the Company for cash consideration equal to US$5.75 per ordinary share of the Company (each, a “Share”) and US$46 per American Depositary Share of the Company, each representing eight Shares (each, an “ADS”), or approximately US$3.3 billion in aggregate cash consideration. This represents a 16.5% premium over the closing price of US$39.50 per ADS as quoted by the New York Stock Exchange (the “NYSE”) on April 29, 2015, and a premium of 18.9% and 20.1%, respectively, over the Company’s 30- and 60- trading day volume-weighted average price as quoted by the NYSE prior to April 29, 2015, the last trading day prior to the Company’s announcement on April 30, 2015 that it had received a non-binding “going private” proposal.
Suriname’s Desi Bouterse sworn in for second presidential term
Reuters From NDTV
IMAGE: Suriname’s President Desi Bouterse receives the presidential sash after taking the oath of office to serve his second consecutive term in Paramaribo, Suriname, August 12, 2015. (Reuters)
Paramaribo: Desi Bouterse, a former military ruler convicted of drug trafficking in the Netherlands, was sworn in for a second five-year term as president of Suriname on Wednesday.
Bouterse’s National Democratic Party (NDP) in May won a slim majority in the small South American country’s National Assembly. The country’s parliament then automatically ratified the 69-year-old’s presidency, with no other candidates, in July.
“For the first time in the history of Suriname, we as a people can try to seize the opportunity to .. bring this nation to unprecedented prosperity,” said Bouterse in his inauguration speech, after which he sang Frank Sinatra’s “My Way” with a local singer.
Bouterse stressed Suriname should diversify its economy, which is heavily reliant on bauxite and gold and has a nascent oil industry, to protect against sudden commodity price swings.
The leader is expected to increase the price of water, electricity and perhaps gasoline in coming months.
Equatorial Guinea’s President Teodoro Obiang, neighbouring Guyana’s newly elected President David Granger and Ecuador’s President Rafael Correa were present at the ceremony.
Suriname, sandwiched between Guyana and French Guiana on the northeastern shoulder of South America, won independence from the Netherlands in 1975.
Bouterse assumed office in 2010 though previously led Suriname through the 1980s as a military ruler after he and other soldiers led a coup in 1980. Bouterse took part in another coup a decade later.
In 1999, he was convicted in absentia of drug trafficking by a court in the Netherlands. He has always denied any wrongdoing.
Bouterse also faced prosecution for the execution of 15 opponents in 1982 but the National Assembly passed an amnesty law giving him immunity in 2012.
Opponents accuse the president of cronyism and corruption.
A U.S. judge in March sentenced Bouterse’s son to 16 years in prison after he pled guilty to charges of offering a bribe to Lebanese paramilitary group Hezbollah.
© Thomson Reuters 2015
For more: http://www.ndtv.com/world-news/surinames-desi-bouterse-sworn-in-for-second-presidential-term-1206757
Money transfer services suspended in USVI
From Caribbean News Now
ST THOMAS, USVI — Hard on the heels of recent closures of money transfer facilities in some other Caribbean islands, notably the Cayman Islands and Curacao, MoneyGram money transfer services have been suspended at several locations in the US Virgin Islands.
The suspension of services at the specific locations is a result of a decision made by the MoneyGram regional office in Miami, Florida. Suspension of services at the affected locations will remain until further notice. If and when such services are resumed, the Department of Licensing and Consumer Affairs and the office of the Lt. Governor –Division of Banking and Insurance will inform the general public.
The Department of Licensing and Consumer Affairs issues licences to the affected establishments to conduct business in the US Virgin Islands and the Office of the Lt. Governor – Division of Banking and Insurance registers the said establishments to perform money transfer services in the USVI.
MoneyGram services at two locations in St Thomas remain operational, as they are under different management and ownership than the suspended establishments.
Lieutenant Governor Osbert Potter stated, “As chairman of the Banking Board, the lieutenant governor regulates MoneyGram but does not licence MoneyGram franchisees. We are working with DLCA to make sure consumers’ interests are protected. We have written to MoneyGram and requested that they find another authorized representative to serve the islands of St Croix and St John as soon as possible, given the large number of consumers that utilize their services on both islands.”
Commissioner Devin Carrington stated, “Based on preliminary information received from MoneyGram headquarters, no consumer transactions in the Virgin Islands have been adversely affected by the action that has prompted MoneyGram Headquarters to suspend services at the aforementioned locations. Nonetheless, the Department of Licensing and Consumer Affairs remains vigilant in its efforts to protect the consumers in the Virgin Islands.”
For more: http://www.caribbeannewsnow.com/headline-Money-transfer-services-suspended-in-USVI-27247.html
Further judgment in Tchenguiz case
From BiGlobal BL
Guernsey’s Court of Appeal has handed down a further judgment this week in the long-running litigation concerning the Tchenguiz Discretionary Trust (TDT).
The judgment, which was handed down on 10 August 2015, upheld earlier findings of the Royal Court, which previously found that the former trustees of the TDT had not acted in breach of trust, amounting to gross negligence. The Court’s finding meant the former trustees avoided liability for a claim valued at over £200 million.
The long-running litigation stems from an application by the former trustees for a declaration as to the validity of certain loan arrangements which they entered into in their capacity as trustees, plus declarations that they were not personally liable for those loans.
The new trustee subsequently appointed to administer the trust brought a counterclaim in respect of those loans, alleging that the former trustees were grossly negligent and therefore, personally liable for the loans. However, the Court of Appeal dismissed the current trustee’s appeal against an earlier finding that the former trustees had not acted with gross negligence.
The Court of Appeal also overturned an earlier finding that the trust was liable for a claim in restitution by the liquidators of a company within the trust’s structure for approximately £39 million.
The case has attracted significant attention, particularly in the trust industry. It broke new ground at the end of last year when Guernsey’s Court of Appeal provided rare judicial commentary on the meaning and effect of Article 32 of the Trusts (Jersey) Law 1984, which concerns the liability of trustees with third parties in transactions they enter into in their capacity as trustees.
The case is also a rare example of a breach of trust case reaching both a full trial and also an appeal before an offshore court.
Mourant Ozannes, led by its international head of litigation, Partner Jeremy Wessels, acted for the successful former trustees.
