Top 10 Headlines from Offshore When Verity (not her real name) retired she had simple dreams of living in the sun, caring for animals and putting something back into society. The directive on alternative investment fund managers ("AIFMs") proposed by the European Parliament (the "EU Directive") continues to create uncertainty and controversy in the alternative investment funds ("AIFs") world. The settlor applied to court to set aside the Lochmore Trust (the "Trust") on the grounds of the settlor’s mistake, and all beneficiaries of the Trust had confirmed their consent to the application. The OECD Global Forum's peer review process is now underway to check the progress of implementation of the International Tax Standard Once a rabid dog tastes blood, it is only a short matter of time before it bites again.The initial victim of expropriation was the flagship Half Moon Bay Resort, located on what the Travel Magazine consistently lists as one of the top four beaches in the world, developed and owned by US investors for over thirty five years. It is extraordinary that, even in these times of international pretence and overlooking of deception in the interest of political correctness, the Government of the United States of America perseveres in ignoring the behaviour of one of its smallest and perhaps most determined enemies: the sovereign island nation of Antigua and Barbuda. As offshore legal counsel based in Hong Kong, we commonly deal with the book ends of inbound private equity investment into the People’s Republic of China ("PRC"), that being, the initial establishment of the offshore investment fund structure, typically structured as a limited partnership and domiciled in either the Cayman Islands or British Virgin Islands (the "PE Fund") at one end, and at the other, investments made by PE Fund’s in certain offshore target entities ("Offshore Target"), indirec Asia is a vast and growing market, with the Chinese economy being the biggest. The classic film "The Mouse That Roared", starring Peter Sellers, first popularised the concept of a minuscule, innocent Duchy of Grand Fenwick declaring war on the United States of America and the financial benefits which can be accessed by such a challenge. On 16 September 2009, the European Council and of the Council of Ministers adopted Directive 2009/110/EC (the "new E-Money Directive"). | 
