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From Christine Gaylican, Opalesque Asia:
The increasing presence of alternative investments in Asia's emerging markets has raised concerns on the amount of security that current legal structures of country- governments could provide to investors.
Walkers Group, an offshore legal and fund services provider, said in a commentary (Source) received by Opalesque yesterday that combining offshore and onshore legal structures would benefit hedge fund companies and affiliates domiciled or located in emerging countries in Asia.
"Arguably, the enforcement of domestic security in Europe and North America is more dependable than domestic security in developing markets," said John Rogers, head of finance and corporate team for Walkers' Singapore office. "However, where there is some uncertainty about the enforceability of domestic security, which is sometimes the case in developing Asian markets, offshore security and structuring are integral."
Rogers cited that making the different legal frameworks in developing countries and in key jurisdictions such as the Cayman Islands and the British Virgin Islands both work for shareholders and could achieve efficient management of future restructuring scenarios involving underlying assets, identity of key creditors, attitudes of local courts, and future liquidity issues.
This would involve the interaction of offshore and onshore legal consultants to favourably reso...................... To view our full article Click here
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