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The Latest Breaking News from Cayman Islands

Chanel Owners Pocket $5B Windfall On Post-Pandemic Boom: Bloomberg

French luxury fashion brand Chanel’s owners raked in a $5 billion windfall in 2021, Bloomberg reported. Citing the U.K. filings, the report noted Wertheimer family, which owns the brand, got two $2.5 billion dividends in 2021 through their Cayman Islands-based holding company. The surge in the global demand for Chanel’s products shot the owner’s…

Benzinga

U.S. Senate Candidate Alan Grayson Loses Libel Lawsuit

Criticism of Grayson (who's now running in the 2022 Florida Senate primary) in his losing 2018 House campaign was based on "articles by independent, reputable sources," and there wasn't clear and convincing evidence that the defendants knew their statements were false or likely false (the so-called "actual malice" standard).

Reason

Not Your Average Islands

The Cayman Islands are home to a thriving culture of art, adventure, and environmental stewardship

The Walrus

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Goldman Sachs Pauses Relations With Sanctioned Oligarch Linked PE Firm: FT

Goldman Sachs Group (NYSE:GS) and Kirkland & Ellis halted new business with Pamplona Capital Management, the Financial Times reports. Sanctioned oligarch Mikhail Fridman's LetterOne investment group accounted for 80% of the funds of the $9 billion private equity firm. Waystone, a Cayman Islands firm, resigned from every role with Pamplona funds on…

Benzinga

Missfresh Arranges For $300M Funding Via Standby Equity Purchase Agreement

Missfresh Ltd (NASDAQ:MF) has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN LTD, a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global LP. Missfresh will sell up to $300 million of Class B ordinary shares at any time, based on its funding requirement, during the 36 months…

Benzinga

Miami gold hauler cuts plea deal in huge South American-Caribbean money laundering case

MIAMI — A trucking company owner charged with playing a supporting role in a gold-smuggling scheme spanning South America, the Caribbean and South Florida pleaded guilty this week to submitting false customs documents that concealed the true origins of the gold being imported through Miami International Airport.

Miami Herald

Vivek Doval denies Caravan reporter got in touch with him before publishing ‘The D-Companies’ article

The cross-examination of Vivek Doval—son of National Security Advisor (NSA) Ajit Doval—came to an end today at the Rouse Avenue District Court House Complex.

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