The Legal 500

Jersey

Editorial

Overview

While remaining unpredictable, Jersey’s financing market improved slightly during 2012, in terms of the refinancing and restructuring of existing deals and new-money transactions.

Restructuring also remained a major theme, with new big-ticket M&A deals few and far between. Nonetheless, one of the M&A market’s key features has been the interest shown by certain private equity firms in financial services and other Jersey-based businesses.

Dispute resolution practices on the island remain as busy as ever. Insolvency-related work has increased, with a number of banks looking at their enforcement options; regulatory investigations by The Jersey Financial Services Commission against local financial institutions are on the rise; businesses are seeking to challenge interest rate swaps sold to them prior to the credit crunch; and trust litigation is particularly active. Litigators have also experienced increased levels of activity in relation to investment funds, directors’ duties, and employee and shareholder disputes. Many view the availability of third-party litigation funding as likely to increase the volume of litigation.

Key international developments, on the law firm front, included Carey Olsen launching a Cayman Islands office with a team of four partners specialising in corporate, finance and investment funds work. The firm also launched a BVI practice from its Guernsey office in 2012, and in January 2013 entered into an association with offshore law firm Hempel and Boyd, which provides BVI legal services from its offices in the BVI and South Africa. Having launched a Hong Kong outpost at the start of 2012, Mourant Ozannes opened a BVI office in September 2012, with Michael Williams relocating from Jersey to become managing partner. Bedell Cristin has also been expanding internationally, opening offices in the BVI and Singapore in 2012.

Locally, most movement took place among the island’s dispute resolution practices, with Appleby’s office managing partner David Benest, a litigation specialist, leaving to set up his own practice, David Benest Law; Beverley Lacey leaving Mourant Ozannes and establishing Lacey Advocates; and Matthew Thompson leaving Ogier to take up an appointment as Master of the Royal Court of Jersey. On the transactional side, Bedell Cristin welcomed commercial property expert Peter Bertram from Ogier.

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Legal Developments in Jersey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Modernisation of Jersey’s pensions law

    Modernisation of Jersey’s pensions law
  • Jersey Opens the door to QROP’s

    Jersey opens the door to QROPs
  • Jersey Legislation Overview

    Jersey Legislation Overview
  • Civil Liability for Breaches of the Codes

    Civil Liability for Breaches of the Codes
  • AML Update: Review of 2014 amendments to the substantive offences

    AML Update: Review of 2014 amendments to the substantive offences under the Proceeds of Crime (Jersey) Law 1999 
  • The New Charities Law - a bright new dawn

    As of Friday 21 November 2014, the new Charities (Jersey) Law 2014 (the " Law ") (or at least certain parts of it) came into effect.  This represents a quantum leap forward for Jersey in the charity field.  The Law has introduced a new test for what is charitable (the " Charity Test "), has introduced the post of a Charity Commissioner and a Charity Tribunal, and in time will introduce standards that those who run charities in the Island will have to abide by.  It is hoped that the Law will enable the Island to flourish as a centre for the administration of charitable and philanthropic structures.
  • New Managed Account Regime for Jersey Hedge Fund Managers

    An exemption which will enable Jersey-regulated fund managers to be appointed in relation to managed accounts has now been introduced.  This will enable hedge fund managers that are already regulated under the Financial Services (Jersey) Law (FS Law) in Jersey to carry out fund services business (FSB) to also service qualifying segregated managed accounts (QSMAs) without the need to seek additional regulation for the conduct of investment business under the FS Law.
  • The Security Interests (Jersey) Law 2012: Changes to Jersey's security regime

    On 2 January 2014, the Security Interests (Jersey) Law 2012 came into force in respect of Jersey law security over intangible movable property (e.g. shares/securities, bank accounts and custody assets).  The new law replaces the Security Interests (Jersey) Law 1983 (which was in force for the last three decades) and introduces a number of important changes which modernise Jersey's security regime.
  • Exclusive and Inherent Jurisdictions: to boldly go where no Court has gone before?

    On 26 November 2014, the Privy Council delivered judgment in the long-running case of Crociani & Others v. Crociani & Others [2014] UKPC 40 .  The case is of interest to trustees because it provides conclusive and binding guidance on the treatment of exclusive jurisdiction clauses in trust deeds.  However, it also raises questions as to the fundamental nature of the inherent supervisory jurisdiction of the Royal Court in connection with trust matters, and whether it is in fact broader than previously thought.
  • Accessing EU Institutional investor capital

    Luxembourg is one of the largest global investment fund domiciles, benefiting from the following factors:

Press Releases in Jersey

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