Cayman Law Firm
Solomon Harris is a full service corporate/commercial law firm specialising in international offshore work with recognised expertise in a number of niche areas, including investment funds, captive insurance, capital markets and corporate restructuring/insolvency. The firm has developed a reputation as one of Cayman's top tier firms for providing effective offshore legal solutions, both promptly and efficiently. The firm continues to be recognised as a top ranking Cayman firm by the leading UK international law firm directories, such as Chambers Global and Legal 500 and is perceived in the market as a more "nimble" alternative to its larger competitors with a complement of very experienced lawyers across all work groups.
Nature of Practice
Solomon Harris' reputation has been built on its consistent responsiveness to client needs and its straightforward, commercially focused advice. The firm's clients include major financial institutions, public and private companies, high net worth individuals, major onshore law firms and accounting firms, including a number of well-recognised names such as Société Générale, Unibanco, Banco Itau, Harcourt and PricewaterhouseCoopers. In addition to providing services directly to clients, the firm has also assisted clients by providing management of legal counsel in other Caribbean jurisdictions. Read more +
One commentator makes the following observation about the firm, "Peers compliment the firm's ability to excel in more complex deals, and the team is certainly moving in the right direction".
Although the Firm is structured in departments (Corporate/Commercial; Dispute Resolution, Insolvency and Corporate Recovery; and Local Practice/Banking), the boundaries between the departments are very fluid and frequently work is handled on a cross-departmental basis.
The firm's main practice areas, in alphabetical order, are: Capital Markets; Company and Partnership Formation; Corporate Recovery/Insolvency; Dispute Resolution; Employee Benefits; Finance; Insurance; Investment Funds and Private Equity Funds; Listing Services, Local Commercial, Banking and Licensing; Mergers, Acquisitions and Joint Ventures; Private Client (trusts, wills, probate, estate matters); Real Estate/Property Law. read less --
First Cayman decision on termination of insolvent SPC cells
A September 2016 judgment of the Cayman Islands (‘Cayman’) Grand Court, obtained by Solomon Harris on behalf of Receiver clients, has clarified for the first time that a Cayman segregated portfolio company (‘SPC’) can terminate an individual segregated portfolio (‘Cell’) if the Ce...
Foreign companies face UK inheritance tax on value of UK residential property holdings
On 18 August 2016 the United Kingdom (‘UK’) Government published consultation documents on proposed reforms to the taxation of non-domiciles (see below). They include draft legislation to implement the July 2015 UK Budget proposals to make UK residential Property (‘UKRP’) subject to UK inh...
Share capital reduction in the Cayman Islands without creditor involvement
Solomon Harris has achieved court approval of the Share Capital Reduction (‘SCR’) of a Cayman Islands (‘Cayman’) company without the need to produce a list of creditors and seek their approval for the SCR. This significantly reduced the time and costs involved. Here we discuss when and how...