Cayman Islands > Corporate and commercial
Corporate and commercial
Maples and Calder 'always meets deadlines and the advice is commercially useful'. The team recently advised KKR with a non-rated $400m CLO transaction with several unusual features, such as the issuer entering into a $300m senior lending facility with a third party service lender to provide the bulk of the funding for the transaction, instead of issuing rated senior notes to investors. The practice also acted for ABN AMRO Bank in the sale of Prime Fund Solutions' hedge fund administration business to Credit Suisse. Alasdair Robertson heads the finance group and Cayman managing partner Paul Lumsden is corporate head. Also widely praised for finance are Mark Matthews, Dale Crowley, Wanda Ebanks, John Dykstra and Joannah Bodden Small. Other key contacts on the corporate side include Simon Firth, who 'has a wide breadth of expertise in any matter dealing with corporate finance and Cayman finance regulatory law'. Nick Evans, Jason Allison, Matthew Gardner and Nicola Stradling are also well regarded practitioners.
Appleby's Bryan Hunter is the firm's Cayman corporate and commercial head, and Stephen James is leader for the corporate finance team. Recent matters include advising RBS in the restructuring of indebtedness due under credit agreements. The practice also acted on the acquisition by Credit Suisse from Fortis Bank (Nederland) of its business activities in the field of providing services to the alternative investment industry, and represented the issuer in the IPO of Beijing-based Youku.com, the biggest online video company in China. Richard Addlestone and Julian Black are recommended, and Sherice Arman 'goes the extra mile for you'. Simon Raftopoulos and Sabrina Leacock are also experienced practitioners.
'Fast and fairly priced firm' Conyers Dill & Pearman was rejoined by recently promoted partner Gene DaCosta, who had been seconded to the Hong Kong office for a year. The team advised on the Cayman law aspects of Kosmos Energy's reorganisation. Office head Richard Finlay and Olivaire Watler are recommended. Kevin Butler is 'an excellent lawyer'.
Mourant Ozannes's 'senior level people are always willing to get involved, respond quickly and give business-savvy advice'. The practice acted for the Cayman issuer on a $2bn securitisation for an emerging market utility company, marking one of the largest securitisation deals seen since the start of the credit crunch. Corporate head Neal Lomax is 'one of the brightest lawyers I have worked with in Cayman'; Richard de Basto leads in finance; James Wauchope is 'a problem solver'; Julian Fletcher is 'aware of industry issues'; and Simon Palmer joined from Maples and Calder.
Ogier's 'advice is proactive and thorough'. Key mandates included advising BTG Pactual on a senior unsecured notes offering, and acting for a Cayman investment fund in relation to the sale of a majority interest in its investment manager, Gave Gestao de Patrimonio. Peter Cockhill is managing partner; James Bagnall 'has technical depth'; and Angus Davison, Nick Rogers and Giorgio Subiotto are also recommended. Andrew Morehouse was made a partner in 2011.
Walkers 'responds in a timely manner, even when there are tight timelines'. The practice saw a high volume of transactions using Cayman structures for the financing and leasing of aircraft, jets, vessels and yachts, and was involved in several cross-border acquisitions. The structured finance and capital markets team increased its share of the US CLO market, and also worked on several Latin American exchange offerings, as well as fresh issuances of debt, including acting as Cayman counsel on over $10bn of debt issued by Petrobras' finance subsidiary Pico in 2010 and 2011 alone, marking the largest ever corporate bond offerings by a South American company in the international markets. The 'solution-focused' Philip Paschalides 'provides clear and unequivocal advice', and Nicole Pineda 'simply makes things happen'. Rob Jackson and former Jersey managing partner Antonia Hardy are well respected. Former global chairman Wayne Panton retired.
'Exceeding expectations', Campbells actively represents large corporations in international transactions. The team assisted in connection with the Cayman aspects of the merger of Wilmington Trust Corporation and M&T Bank Corporation. John Wolf is a member of the Financial Sector Legislation Reform Committee, which was established to ensure that Cayman Islands legislation remains at the forefront of the offshore jurisdictions.
Solomon Harris' Sophia Harris is managing partner and Jonathan Fitzgibbons was recently appointed partner. The practice acted for Interrupt Group, the Dutch corporate and fiduciary services group, on its acquisition of Close Brothers (Cayman) and Close Bank (Cayman). Department head Paul Scrivener is recommended.
Charles Adams, Ritchie & Duckworth has experience in a range of transactions, including investment funds, securitisation, asset-backed financing, joint ventures, reorganisations, partnerships and general commercial agreements. Alan de Saram is noted for hedge funds, capital markets, structured finance and banking.
'Excellent in all respects', Harney Westwood & Riegels' Kieron O'Rourke heads the Cayman office. The team advised SAB Miller and its subsidiary Bavaria on the latter's listing of $1.325bn in corporate bond securities on the Cayman Islands Stock Exchange, the listing being the first of its kind by a Latin American company. Jonathan Law is a key contact.
Higgs & Johnson saw an increase in high-profile international work but has also retained its strong domestic presence, continuing to advise large Cayman-based financial institutions, property developers, prominent local businesses and individuals on refinancings, general commercial transactions and trusts. Corporate head Chris Narborough and Gina Berry are key contacts. Derek Jones, the former senior partner at
Ritch & Conolly's 'response times are prompt'. Key matters included advising FirstCaribbean International Bank (Cayman) on a sovereign loan to the government of the Cayman Islands. Senior partner David Ritch 'has proven to be invaluable to us in many ways'.