After 11 years in the Cayman Islands leading corporate and commercial law firm, Higgs & Johnson is divesting its operations here.
In a statement, the company whose headquarters are in the Bahamas says: “Following closely on the heels of Hurrican Dorian in The Bahamas, the current and projected future negative impact of COVID-19 has caused Higgs & Johnson to undertake a careful analysis of its business operations across the jurisdictions.
As part of this analysis, Higgs & Johnson has made the difficult decision to divest itself of its business operations in the Cayman Islands.”
The company’s local operations are being taken over by HSM Group.
Higgs & Johnson and H&J Corporate Services (Cayman) Ltd. will remain operative for an appropriate period of time in order to allow for an orderly transition of the business to the HSM Group.
The company says it will support its employees through the transition process “and continues to rely on their professionalism and support.”
Higgs & Johnson set up shop in Cayman when it merged with Truman Bodden & Company 11 years ago in 2009.
Regarding handing over its operations to HSM group, it states: “Higgs & Johnson has a well established relationship with the HSM Group and anticipates a continued business relationship with the firm on Bahamian related matters ensuring even closer links with Cayman and the offshore world at large.”
It adds that: “In light of its longstanding commitment to the Cayman Islands, Higgs & Johnson will approach the above in such manner as to minimize, to the greatest degree possible, the impact on local staff and clients.
Higgs & Johnson states that it has a well established relationship with the HSM Group and anticipates a continued business relationship with the firm on Bahamian related matters ensuring even closer links with Cayman and the offshore world at large.
On its website SMM group in confirming the deal says: “The HSM Group will be acquiring the Cayman operations of Higgs & Johnson, with whom we have had a long established relationship.”