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Private Equity 2012 Fund Formation Guernsey Chapter
What legal form of vehicle is typically used for private equity funds formed in your jurisdiction?
Focus on: Guernsey
With the arrival of the new year, Mena FM talks to several industry experts about Guernsey as a fund domicile and its growing relationship with the Mena region and the products based there.
Insurance & Reinsurance 2012
Guernsey - Bedell Cristin
1. Regulatory
1.1 Which government bodies/agencies regulate insurance (reinsurance) companies?
Response to Consultation on the Draft Overseas Pension Schemes Regulations 2012
We are a firm of advocates practising in Guernsey and regularly advise on issues arising from pension arrangements established or administered from Guernsey. Based on our experience and interaction with our clients, we are writing to you in response to HMRC’s invitation to consult on the Draft Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (the “Draft Regulations”) issued by HMRC on 6 December 2011.
The Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 – Update
Responding to HMRC’S proposed changes for Guernsey QROPS
Proposed UK legislative changes to the QROPS regime
On 6 December 2011 HMRC released a consultation document relating to draft legislation entitled The Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (the ‘New Proposed Regulations’).
Guernsey Companies Law - Office of the Registrar of Companies
This memorandum has been prepared for the assistance of our clients in connection with the provisions relevant to the Office of the Registrar of Companies under the Companies (Guernsey) Law, 2008 (as amended) (the “Companies Law”).
Overseas Restraint Orders in Guernsey have no extra-territorial effect
The Royal Court has ruled that restraint orders obtained in Guernsey on requests from foreign authorities can only apply to assets located in the Bailiwick, striking down the extra-territorial effect of a restraint order obtained at the request of the National Prosecuting Authority of South Africa.
QROP Schemes - The Pertinent Issues
Whilst many trustees and providers are now familiar with the QROPS regime, as schemes mature and members seek to avail themselves of the funds in their schemes in various ways, important questions are arising in relation to matters as diverse as the level and age on which benefits can be taken, how to align Guernsey and English taxation requirements and what restrictions apply in respect of investments and the granting of loans.
Enforcement of Foreign Judgments
Global Overview Mark Moedritzer and Kay C Whittaker Shook, Hardy & Bacon LLP 3
Guernsey Mark Dunster and Sophia Harrison Carey Olsen 5
The Takeover Code and Guernsey companies
Increasing use of the Takeover Code in Guernsey
Over the past couple of years we have seen an increase in transactions involving Guernsey companies in which the City Code on Takeovers and Mergers (the “Takeover Code”) has been a significant factor.
Guernsey approves the introduction of image rights legislation
The States of Guernsey have approved the introduction of specific legislation to recognise and regulate image rights, which would make Guernsey the first jurisdiction in the world to put in place such specific protections. It is hoped that the legislation will be in force prior to the London 2012 Olympics.
Guernsey Insolvency Law – Administration Orders
The concept of administration under Guernsey insolvency law is a relatively recent one. Since the changes to Guernsey company law in 2008 it is now possible to obtain an administration order from the Royal Court in Guernsey.
The Insurance Business (Bailiwick of Guernsey) Law, 2002
The above Law provides that certain transfers of long term insurance business require the sanction of the Royal Court in Guernsey (the "Royal Court") and sets out the procedure governing such transfers.
Lords follow a “John Bullish” approach
On 15 June 2011, the Judicial Committee of the Privy Council handed down its long awaited decision in the case of Spread Trustee Company Limited v Sarah Anne Hutchinson and others. In this long running Guernsey case the appellant, Spread Trustee Company, appealed against a decision by the Guernsey Court of Appeal by which it ruled that it has always been part of Guernsey customary law that an exoneration clause in a trust deed could not exonerate a trustee from liability for gross negligence.
How can a Guernsey trust company assist financial planning?
Russell Clark explains why Guernsey is the perfect environment for controlling private wealth
M&A activity
1. Please give a brief overview of the public M&A market in your
jurisdiction.
2. What are the main means of obtaining control of a public
company?
Limited Partnerships Law Review
The Limited Partnerships (Guernsey) Law, 1995, as amended (the Limited Partnerships Law) provides a statutory framework for the establishment and operation of limited partnerships in Guernsey. A briefing, Limited Partnerships in Guernsey, has been prepared and is available on request or online www.ogier.com
Guernsey Companies Law 2008: one year on
On 1 July 2008, the Companies (Guernsey) Law, 2008 (the "Companies Law") came into force. This Briefing considers the impact of the Companies Law and identifies issues which have arisen during its first year of operation. The Companies Law consolidates the various companies laws enacted from 1994 to 2008 and all of the Ordinances made thereunder (including, for example, the Protected Cell Companies Ordinance 1997 and the Incorporated Cell Companies Ordinance 2006) as well as introducing a number of entirely new concepts into Guernsey law. The Companies Law has already been amended and supplemented by numerous pieces of legislation1.
The Licensees (Conduct of Business) Rules
The Licensees (Conduct of Business) Rules, 2009 Timing of Issue of Contract Notes & Existing Derogations
Migrations of Companies to Guernsey
This briefing note provides an outline of the processes and requirements of a proposed migration of a company into Guernsey pursuant to The Companies (Guernsey) Law, 2008 (as amended) (the “Law”). Migration is the process which allows a company to move its place of incorporation into or out of Guernsey.
A Guide to Company Migration to and from Guernsey
Part VII of the Companies (Guernsey) Law, 2008 as amended (the "Law") allows companies to migrate into and out of Guernsey (i.e. to or from the Guernsey Register of Companies (the "Register") to or from a jurisdiction with equivalent legislation.
Guernsey Companies Law 2008: one year on
On 1 July 2008, the Companies (Guernsey) Law, 2008 (the "Companies Law") came into force. This Briefing considers the impact of the Companies Law and identifies issues which have arisen during its first year of operation.
Cell Companies in Guernsey
This Briefing provides a summary of the main provisions of Guernsey law relating to protected and incorporated cell companies. Guernsey was the first country in the world to introduce legislation permitting the formation of cell companies through the Protected Cell Companies Ordinance 1997. The concept of the incorporated cell company was introduced in Guernsey through the Incorporated Cell Companies Ordinance in 2006. Both of those ordinances have now been consolidated into the Companies (Guernsey) Law, 2008 (the "Companies Law").
Guernsey Companies Law - Compulsory Winding Up of Companies
The (Guernsey) Law, 2008 (the “Companies Law”) came into force on 1 July 2008 and contains provisions in relation to the nature, type, establishment and conduct of Guernsey incorporated companies (“Companies” or “Company” as the context requires), including limited liability companies (“Ltds”), companies limited by guarantee (“LBGs”), protected cell companies (“PCCs) protected cells (“PCells), incorporated cell companies (“ICCs”), incorporated cells (“ICells”), unlimited liability companies and mixed liability companies (“MLs”).
Directors' Liabilities and Indemnities under The Companies (Guernsey) Law, 2008
As of 1 July 2008, The Companies (Guernsey) Law, 2008 (the "2008 Law") introduced a number of significant changes to the provisions of the constitutional documents i.e. the memorandum of incorporation and the articles of incorporation (hereinafter collectively referred to as the "Memorandum and Articles") of Guernsey companies. This Briefing is intended as a guide for directors, company secretaries, other company officers and administrators in the investment, fiduciary and insurance sectors who administer Guernsey companies which were formed prior to 1 July 2008 ("pre-2008 Companies"), and who are considering amending the Memorandum and Articles of pre-2008 Companies that they administer in order to comply with the 2008 Law, with particular reference to indemnities for directors and officers under the 2008 Law.
The Companies (Guernsey) Law 2008
On 1 July 2008, Guernsey's new companies law, the Companies (Guernsey) Law 2008 (the "Law") came into force. This Briefing summarises the major changes to this area of law and outlines important administrative steps which need to be taken by company administrators and directors in all sectors.
THE COMPANIES (GUERNSEY) LAW, 2008
ON-LINE INCORPORATION AND RESIDENT AGENCY IN THE NEW ENVIRONMENT. Licensed Fiduciaries are now taking instructions to engage in the radical new process of on-line incorporation under the provisions of The Companies (Guernsey) Law, 2008 ("the New Law").
The Companies (Guernsey) Law 2008
With effect from 1 July 2008 Guernsey's new companies law the Companies (Guernsey) Law 2008 ("the Law") will be in force. This Briefing summarises the major changes to this area of law and outlines important administrative steps which need to be taken by company administrators and directors in all sectors before October 2008.
The Conveyancing Process in Guernsey
Realty is what lawyers call land and everything attached to it, be that houses, buildings or flats. The transfer of realty in Guernsey from one owner to another is achieved by the passing of a Conveyance before the Royal Court of Guernsey.
Spark of Genius
Introduction
In England and Wales the right of "squeeze out" in a takeover context is enshrined in section 429 of the Companies Act 19851. Section 429 of the Act, broadly speaking, permits a person making a takeover offer2 in respect of a company registered in England and Wales to compulsorily acquire the shares of the minority shareholders of that company where the Offeror has acquired or contracted to acquire not less than 90 per cent in value of the shares to which the offer relates.