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Legal market overview

Guernsey was not immune to the challenging global economic climate. Nonetheless, M&A activity continued, with most private M&A transactions involving Guernsey companies as holding companies within larger international groups, and the year saw an increase in the use of schemes of arrangement for takeovers.

Major deals requiring Guernsey legal advice included Kleinwort Benson Channel Island Holdings’ acquisition of Close Offshore; Betfred’s purchase of The Tote; and Photoways’ acquisition of Moonpig.com. On the capital markets side, the picture was relatively healthy until the summer of 2011, after which several instructions became dormant.

On the private client side, clients and Guernsey’s law firms are expected to benefit from the introduction of Guernsey foundations legislation in late 2012, anticipated to appeal to clients unfamiliar or uneasy with the pure trust concept and who perceive a trust’s absence of separate legal identity to be an issue.

Although the AIFM Directive created uncertainty in the funds world, Guernsey’s funds pipeline increased in the second half of 2011, and continued to grow during the first quarter of 2012. In the island’s insurance sector, a major development in 2011 was the decision by the Guernsey Financial Services Commission not to seek equivalence under Solvency II. This decision led to Guernsey becoming a more attractive jurisdiction for captive insurers than those subject to the European legislation, and led to increased workflows in captive migrations for Guernsey’s insurance teams.

On the litigation front, practices have remained busy with asset tracing and enforcement, banking litigation, distressed funds, regulatory investigations, insolvency and trust litigation. Highlight cases of the year included the Tetragon matter, in which the fund’s executive directors, founders and principal shareholder are defendants in unfair prejudice and derivative proceedings, and the Carlyle Group litigation that concerns claims brought by the liquidators of Carlyle Capital Corporation, marking Guernsey’s largest-ever piece of substantive litigation.

In Guernsey’s legal market, Carey Olsen, Mourant Ozannes and Ogier remain the firms most likely to be called in for big-ticket international work, but 2011 also saw a big push being made by Guernsey’s newest pan-Channel Islands contender, when Collas Day in Guernsey and Crill Canavan in Jersey merged to create Collas Crill, a full-service Channel Islands law firm. The combined practice has 19 partners across both islands and has strengthened its presence locally and internationally; in August 2011, the firm relocated Sean Cheong - to spearhead the launch of its new Singapore office.

Mourant Ozannes, which underwent its own pan-Channel Islands union in 2010, has since undergone some movement, with Peter Harwood retiring from the partnership, commercial partner Andrew Walters leaving for a non-legal role and former Guernsey property head Edward Prentice retiring from the firm. AO HALL, best known for employment and dispute resolution matters, saw the departure of Elaine Gray to Carey Olsen and Jon Barclay to Bedell Cristin.

Meanwhile, global firm Appleby, which launched its Guernsey practice in 2010, has gained traction, and remains the only international legal practice able to offer clients advice in all three Crown Dependencies.

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Press releases

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Legal Developments in Guernsey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

  • Important development in Guernsey litigation costs recovery

    Ability to order interim payments on account of costs confirmed
    - Bedell Cristin

  • In re B; B v T (Court of Appeal, 11 July 2012)

    A trustee's duty of confidentiality has recently been discussed and to some extent clarified in the recent Guernsey Court of Appeal decision of In re B; B v T (Court of Appeal, 11 July 2012). This summary has been prepared to provide you with a summary of the case as well as the general issues raised, but is not intended to cover all matters or to provide commentary.   This summary does not constitute legal advice.
    - Ogier

  • Royal Court Civil Proceedings - A Shift From Ladbroke on External Lawyers' Fees?

    The limits of cost recovery in Guernsey litigation is an ever present issue for clients. It is even more acute where external lawyers are engaged because of the need for specialist assistance. This article explores those limits, with a focus on external lawyers' fees and the leading 2008 case of Ladbrokes PLC v Galaxy International Ltd.
    - Mourant Ozannes

  • The Company Administration Regime in Guernsey

    Introduction 
    - Ogier

  • Proposed changes to Guernsey Insolvency Laws

    The Guernsey States of Deliberation have approved changes to the Companies (Guernsey) Law, 2008 which include several key changes affecting insolvencies in Guernsey.The Guernsey States of Deliberation have approved changes to the Companies (Guernsey) Law, 2008 which include several key changes affecting insolvencies in Guernsey.
    - Mourant Ozannes

  • Guernsey Foundations

    A summary of the key aspects of the Foundations (Guernsey) Law, 2012. 
    - Mourant Ozannes

  • Guernsey Image Rights Legislation

    The Image Rights (Bailiwick of Guernsey) Ordinance 2012 (the Ordinance) and The Image Rights (Bailiwick of Guernsey) Regulations, 2012
    - Ogier

  • Guernsey Foundations

    The Foundations (Guernsey) Law, 2012 (Law) is awaiting Royal assent, expected to be given by the end of the year or early next year. Whilst Guernsey is not the first jurisdiction to provide for foundations, the Law does provide a number of unique options for individuals wishing to take advantage of the benefits provided by foundations. The purpose of this note is to provide both a general summary of the features of a Guernsey foundation, as well as a summary of these unique options that will be available under the Law.
    - Ogier

  • Competitive Guernsey

    Guernsey has been considering the introduction of local competition law since at least 2005 and by bringing into effect The Competition (Guernsey) Ordinance, 2012 on 1 August 2012, has introduced an effective Competition Law regime, to regulate the same 3 core areas recognized in most competition regimes, namely the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions.
    - AFR Advocates

  • Non-charitable purpose trusts in Guernsey

    Guernsey law permits a purpose trust to be established with a particular purpose stated in the trust instrument and for which there are no ascertainable beneficiaries.
    - Mourant Ozannes

Press Releases in Guernsey

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

  • Sayenko Kharenko – legal counsel on the acquisition of ING’s securities and custody services bus

    Sayenko Kharenko - legal counsel on the acquisition of ING's securities and custody services business by Citibank. Normal 0 false false false RU X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Обычная таблица"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;}
    - Sayenko Kharenko

  • LS Horizon Limited advised PTG Energy Public Company Limited

    LS Horizon Limited has advised PTG Energy Public Company Limited (the " Company "), which operates the business of distribution of petroleum products and equipment for gas stations, including fuel selling through its PT petrol stations, in connection with its initial public offering (" IPO ") and listing of its shares on the Stock Exchange of Thailand (" SET ").
    - LS Horizon Limited

  • Penningtons establishes pensions team with two senior lateral hires

    Penningtons Solicitors LLP has recruited partner Maria Riccio and associate Rupert Graham-Evans to lead its newly established pensions law team. Working between the firm's Hampshire and London offices, they will also support Penningtons' regional offices across Cambridge and the South East, advising clients in the UK and internationally.
    - Penningtons Solicitors LLP

  • Matouk Bassiouny Advises Emirates NBD PJSC on the USD 500 Million Acquisition of BNP Paribas S.A.E.

    Matouk Bassiouny advised Emirates NBD PJSC on the acquisition of 100% of the share capital of BNP Paribas S.A.E. in Egypt.  The value of the transaction amounted to USD 500 million. The Share Purchase Agreement was signed in December 2012 and closing took place in Cairo on Sunday June 9 th 2013. 
    - DLA Matouk Bassiouny

  • Partner and Senior Associate join Matouk Bassiouny's Dispute Resolution group

    We are delighted to inform you that Johanne Cox joins Matouk Bassiouny as a Partner in the firm's Dispute Resolution group. Johanne has practiced international arbitration in Egypt for a number of years, prior to which, she practiced arbitration in London and Paris at leading international law firms.  She is recognized in Legal 500 (2013) as "very experienced and knowledgeable", adding a "great dynamic" to her law firm's practice.  Johanne is a Fellow of the Chartered Institute of Arbitrators, a Solicitor-Advocate in England and Wales, and an accredited Mediator.
    - DLA Matouk Bassiouny

  • Landmark Supreme Court judgement on the Rights of Depositors in Cyprus

    On 07.06.2013 the Supreme Court issued its judgment in the context of the first recourses filed by depositors and challenging the effect on depositors' funds of the recent bank resolution measures. The judgment is a very welcome development and should be viewed as a significant stepping stone in the future developments of the promotion of depositors' claims.
    - Patrikios Pavlou & Associates LLC

  • Kochański Zięba Rapala & Partners law firm is a laureate of the European Medal 2013

    Kochański Zięba Rapala & Partners law firm is honored to announce that it has been awarded the European Medal 2013 in the Final of the 24th Edition of the Competition organized by the Business Centre Club in cooperation with the Ministry of Foreign Affairs, and under the honorary patronage of the European Economic and Social Committee.
    - Kochanski Zieba Rapala & Partners

  • Georg Fischer to acquire majority stake in Hakan Plastik of Turkey

    Georg Fischer Ltd. (GF) signed a share purchase agreement on 7 May 2013 to acquire majority stake in Hakan Plastik A.S., with an option to acquire the remaining shares in following years. 
    - Paksoy

  • Hengeler Mueller advises CEWE on transformation of legal form

    The Annual General Meeting of CEWE COLOR Holding AG has approved the change the company's legal form into a partnership limited by shares - Kommanditgesellschaft auf Aktien (KGaA). The change of the legal form includes the transfer of the business currently conducted by CEWE COLOR AG & Co. OHG to CEWE Stiftung & Co. KGaA.
    - Hengeler Mueller

  • Hengeler Mueller advises Grammer AG on refinancing by certificate of indebtedness

    Grammer AG (Amberg), a leading supplier of automotive interior and seating systems, has issued loans evidenced by certificate of indebtedness (Schuldscheindarlehen) in the amount of € 90 million which is divided into tranches of 4 and 6 years as well as fixed and variable interest rate tranches. Grammer AG is refinancing an existing loan evidenced by certificate of indebtedness of 2006 prior to maturity in August with part of the issuing proceeds.
    - Hengeler Mueller
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