Amanda Lazier

Oct 14, 2024 | mondaq.com | John Dykstra |James Reeve |Amanda Lazier |Anthony Philp

The new Cayman Islands Beneficial Ownership Transparency Act Regime (the "BOTA Regime") is now in force, with a 31 July 2024 commencement date; however, the Cayman Islands government has notified that there will be no enforcement of new obligations under the BOTA Regime until 1 January 2025.

May 29, 2024 | mondaq.com | Amanda Lazier |James Reeve |Alicia Thompson

1.1 Formalities. In order to create an enforceable debt obligation of the obligor to the seller: (a) is it necessary that the sales of goods or services are evidenced by a formal receivables contract; (b) are invoices alone sufficient; and (c) can a binding contract arise as a result of the behaviour of the parties? A formal written contract is not necessary to create an enforceable debt obligation. However, such an obligation must be created as a matter of contract or deed.