Commercial, Corporate and Finance

/Commercial, Corporate and Finance

MannBenham Contract Clinic

By |2020-06-04T16:43:27+00:00April 1st, 2020|Categories: Business, Commercial, Corporate and Finance, Conveyancing, Dispute Resolution, For Individuals, Front Page Publication, News|

For many years MannBenham Advocates has offered free consultations on any subject, to anyone wanting legal guidance. With island businesses facing unprecedented difficulties at a time when they are least able to build up a fighting fund, MannBenham is extending that scheme. The MannBenham Contract Clinic, staffed by our senior commercial Advocates, now offers free contract [...]

New Fitness and Propriety Assessments

By |2019-07-17T13:16:05+00:00July 3rd, 2019|Categories: Commercial, Corporate and Finance, News|

  Only a fortnight after MannBenham Advocates and Kings Chambers presented to island businesses on fiduciary responsibilities for directors, trustees and via commercial arrangements, closing on and emphasising fitness and propriety, the Isle of Man Financial Services Authority published late last week updated documents that came into force on 1st July 2019. The term ‘fit and [...]

Beneficial Ownership | Isle of Man

By |2021-01-15T17:44:23+00:00June 19th, 2019|Categories: Commercial, Corporate and Finance, Front Page Publication, Regulatory and Compliance, Uncategorized|

Joint Statement from the Governments of the Isle of Man, Guernsey and Jersey on the creation of a public Beneficial Ownership Register Details are yet to be worked out, but the Governments of the Isle of Man, Guernsey and Jersey have today (19 June 2019) announced that they intend to comply with the provisions of the [...]

Isle of Man’s Banking Renaissance

By |2020-01-16T16:50:06+00:00October 24th, 2016|Categories: Banking and Investments, Beneficial Ownership, Collective Investment Schemes and Funds, Commercial, Corporate and Finance, Corporate and Trust Service Providers, Credit Unions, Crowd‐Funding, Designated Business, Financial Services and Private Equity, Front Page Publication, Funds, Insurance and Pensions (Retirement Benefit Schemes), International|

In a far sighted and at the same time very contemporary reading of the development of the financial services industry, the Isle of Man Government has created an alternative banking regime which came into effect on 1 August 2016.1 The new regime will enable corporations and high net worth individuals to become masters of their own [...]

Isle of Man Corporate Insolvency

By |2020-01-22T20:56:42+00:00October 24th, 2016|Categories: Banking and Investments, Beneficial Ownership, Cell Companies, Collective Investment Schemes and Funds, Commercial, Corporate and Finance, Company Law, Corporate and Trust Service Providers, Corporate Governance, Directors’ Duties and the Law and Conduct of Meetings, Corporate Restructuring, Credit Unions, Crowd‐Funding, Designated Business, Dispute Resolution, Financial Services and Private Equity, Front Page Publication, Insurance and Pensions (Retirement Benefit Schemes), Isle of Man Foundations, Joint Ventures and Shareholder Agreements, Mergers and Acquisitions, Purpose Trusts, Sale and Purchase of Businesses, Trust Law, Trust Structures, Trusts, Foundations and Companies|

Insolvency Law, Policy and Procedure i Statutory Framework and Substantive Law Insolvency law on the Isle of Man is governed primarily by the following legislation: The Fraudulent Assignments Act 1736 Preferential Payments Act 1908 Preferential Payments and Other Acts (Financial Adjustments) Act 1973 Companies Act 1931-2004 Companies Act 2006 The primary legislation governing insolvent companies can [...]

Execution of contracts by Isle of Man Companies

By |2020-01-16T16:50:06+00:00October 24th, 2016|Categories: Banking and Investments, Beneficial Ownership, Collective Investment Schemes and Funds, Commercial, Corporate and Finance, Corporate and Trust Service Providers, Credit Unions, Crowd‐Funding, Designated Business, Financial Services and Private Equity, Insurance and Pensions (Retirement Benefit Schemes), Regulatory and Compliance|

When a company is considering entering into a particular business venture considerable time is taken in discussing, negotiating and reviewing the contractual terms in the proposed agreement between the parties. Whilst focusing on key contractual terms of the proposed agreement, often the signing provisions to the agreement to bind the company are overlooked. Failure by a [...]

Changes to the Financial Services (Exemptions) Regulation

By |2020-01-16T16:50:06+00:00October 24th, 2016|Categories: Banking and Investments, Beneficial Ownership, Collective Investment Schemes and Funds, Commercial, Corporate and Finance, Corporate and Trust Service Providers, Credit Unions, Crowd‐Funding, Designated Business, Financial Services and Private Equity, Insurance and Pensions (Retirement Benefit Schemes), Pensions and Insurance|

The Isle of Man financial Services Authority and the Isle of Man Office of Fair Trading have recently issued a consultation on crowdfunding which included consultation on other legislative changes. These other legislative changes centre around proposed changes to the Regulated Activates Order, Financial Services (Exemptions) Regulations and Financial Services (Fees) Order. One of these changes [...]