Similarly,
Cash register intervenes cayman islands:
The fund. Therefore, other shareholders of the FNZ financial firm ask a court of the Cayman islands to block a collective action of $ 6 billion brought against the New Zealand company.
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FNZ is controlled by the Caisse. Consequently, the American firm Generation Investment Management, founded by the former vice-president Al Gore.
Some 2. Furthermore, 700 employees and ex-employees of FNZ accuse the fund and generation of having carried out transactions which would have had the effect of substantially reducing the value of the 30% participation that they hold in the company.
In a request filed at the end of July before a tribunal of the Cayman Islands. an entity controlled by the cash and cash register intervenes cayman islands generation alleges that the group of employees and ex-employees did not comply with its own rules in the process which led to the decision to file a request for collective action against FNZ.
“Like the financial vehicle by which investors. whose fund, invested in FNZ is incorporated into the Cayman islands, the procedures had to be instituted [dans ce pays]”, Said Journal A spokesperson for the Quebec institution, Marjaurie Côté-Boileau.
Several shareholders of FNZ. including the cash register, have effectively established the Caimans of entities which hold their actions of the company, even if it is domiciled in New Zealand.
Marjaurie Côté-Boileau cash register intervenes cayman islands Photo LinkedIn
Fiscally “neutral”
“This jurisdiction [les îles Caïmans]neutral for the various investors, allows everyone to pay their taxes in their respective country, added Mr.me Côté-Boileau. This is a simple question of legal structure, no tax advantage is drawn from it. Moreover, FNZ is subject to a tax rate greater than 15%. ”
The cash register became a shareholder of FNZ in 2018. At the end of 2024, the institution held 44% of the company, a placement then valued at more than $ 3 billion.
In May. the Standard & Poor’s rating agency passed the FNZ prospects from stable to negatives because the company recorded lower financial results than expected last year.
Founded in 2003. with around 6000 employees, FNZ offers investment management platforms used by large financial institutions such as Barclays, Aviva, BMO and Vanguard.
Cash register intervenes cayman islands
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