The Legal 500




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.

Press releases

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

Legal Developments in Jersey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Financial Services & Regulatory Autumn Update 2014

    In this Update, we look at some valuable lessons learned for all financial services businesses from recent JFSC examinations and investigations, as well as amendments to the Companies (Jersey) Law.    Read more...
  • V (as Administratrix of the Estate of A) v The Minister for Health and Social Services

    In this case the Royal Court of Jersey concluded that it has power under its inherent jurisdiction to sanction a compromised settlement of litigation reached by the Plaintiff, on behalf of a minor, and provided helpful guidelines in relation to what the Court would expect to see to enable the Court to sanction a settlement on behalf of a child living in Jersey.    Read more...
  • Jersey Eligible Investor Funds

    This briefing gives a summary of the key features of a Jersey eligible investor fund. Read more ...
  • Jersey companies law – amendments

    Significant changes to the Companies (Jersey) Law 1991 will come into force on Friday 1 August 2014 bringing greater flexibility to those using Jersey companies. Read more ...
  • Financial Services and Regulatory Summer Update 2014

    The aim of this Update is to focus on current legal and regulatory developments affecting financial services institutions in Jersey and to provide some brief thoughts on the implications of these developments for your business. In this Update, we look at current consultations on civil penalties and changes to the Money Laundering Order. Our Spotlight article considers changes to the tipping-off rules which are coming into effect shortly.   Read more...
  • Tantular v AG: Royal Court in Jersey provides clarification as to the impact of saisies judiciaires

    The Royal Court in Jersey has recently determined that a saisie judiciaire may not be granted over the assets of a discretionary trust merely on the grounds that the offender (or suspected offender, as the case may be) is a beneficiary. Whilst the Court acknowledged that there were some instances in which a saisie judiciaire would have an impact on a trust, in Tantular v AG [2014] JRC128, the Court held that a saisie judiciaire which froze an entire Trust, to the detriment of the other, innocent beneficiaries, would be both prejudicial and disproportionate. The Court also stressed that a beneficiary's interest in a trust and corresponding right to trust property is no more than a mere right to be considered as a recipient of benefit.  Read more...
  • Private Equity Funds made easier in the Cayman Islands

    Private equity funds are set to benefit from updates to the Cayman Islands Exempted Limited Partnership Law.  The Cayman Islands has once again shown itself to be an innovative and responsive jurisdiction in terms of providing user-friendly and practical legislation.  The Exempted Limited Partnership Law, 2014 will come as a welcome relief to an industry post-global financial crisis otherwise suffering from a severe case of "regulatory fatigue". Read more...
  • Revisions to the Cayman Islands Exempted Limited Partnership Law

    A long-anticipated overhaul of the Cayman Islands Exempted Limited Partnership Law was enacted by the Cayman Islands Government on 2 July 2014.  Changes have been introduced to simplify, clarify and add flexibility to the establishment and ongoing operation of Cayman Islands exempted limited partnerships. Read more...
  • BVI Approved Managers Regime

    The Investment Business (Approved Managers) Regulations, 2012 (the Approved Manager Regulations) provides an attractive "regulatory light" option for qualifying investment managers and advisors. The application process under the Approved Manager Regulations is generally quick and straightforward making it an appealing and popular option for both start-up and existing qualifying investment managers and advisors. Read more ...
  • CIMA introduces new director registration and licensing regime

    The Cayman Islands Government has brought into force the Directors Registration and Licensing Law, 2014 providing for the registration and licensing of individuals or companies appointed as directors of Cayman Islands mutual funds and entities carrying out securities investment business, which would include Cayman Islands incorporated or registered investment managers.   Read more...

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
  • Channel Island Securities Exchange, LBG - Continuing Obligations for issuers with listed Investment

    This Client Briefing has been prepared for the assistance of directors of investment funds listing "equity securities" as defined in Chapter I of the listing rules (the Listing Rules) of the Channel Islands Securities Exchange (the Exchange) under Chapter VII of the Listing Rules. This Briefing sets out certain of the continuing obligations which an issuer is required to observe once any of its securities have been admitted to listing. This Client Briefing should be read in conjunction with the ‘Channel Island Securities Exchange - Listing of Securities of Investment Funds' Briefing.
  • Luxembourg - Cayman Private Equity Structures

    Fund formation
  • Issues for trustees of Guernsey trusts when foreign couples divorce

    This briefing is intended to provide a general overview of some of the issues to be considered by trustees of Guernsey trusts and their advisers when foreign couples connected with the trust divorce.
  • Luxembourg Corporate - Foreign direct investment - Structuring the equity

    As one of the leading global jurisdictions for structuring foreign direct investment (FDI), Luxembourg has developed a sophisticated framework to enable the financing of such investments.
  • Nolan v. Minerva: Trustees and Dishonest Assistance

    In Nolan v. Minerva Trust & Others [2014] JRC 078A, the Royal Court delivered a salutary reminder of the high standards by which professional service providers in Jersey will be judged, and the need for scrutiny, careful reflection and demonstrable independence when taking investment decisions.  It also underlined the need to be robust, whatever pressure may be exerted, if there are (or should be) questions about the propriety of a transaction.
  • Channel Islands Securities Exchange Authority Limited (the Exchange): Continuing Obligations Chapter

    Channel Islands Securities Exchange Authority Limited (the Exchange): Continuing Obligations Chapter 8 debt securities 
  • The Company Administration Regime in Guernsey

    The Companies (Guernsey) Law, 2008 (" Companies Law ") provides for companies, protected cell companies (" PCCs "), incorporated cell companies (" ICCs ") and cells of PCCs and ICCs to be placed into administration and for an administrator to be appointed to manage that entity's affairs whilst the administration order remains in force.
  • Luxembourg Corporate - International corporate migration

    A company incorporated and existing in one jurisdiction may consider it desirable to continue as a company existing elsewhere for a variety of reasons including, for example: to be in a time zone closer to investors; to conduct its affairs in a manner more familiar to its stakeholders; to benefit from a more modern and/or flexible statutory or regulatory environment and/or a more appropriate tax framework.
  • Investec and Ors v Glenalla and Ors - Court of Appeal Judgement 27 June 2014

    The judgment in the Court of Appeal in the above matter considered an appeal on one part of the judgment of Lieutenant Bailiff Chadwick (the Judge) of December 2013 (the remainder of the appeal is yet to be heard).  Whilst the dispute itself was a complex trust dispute involving several parties' claims and counterclaims in relation to various transactions, this appeal focussed a very specific but important point; can Guernsey-based trustees of a Jersey-law trust benefit from the limitation of liability provisions available to trustees under article 32 of the Trusts (Jersey) Law 1984 (the Jersey Trust Law) in relation to a contract, the governing law of which is not Jersey?
  • The use of trusts in Jersey

    This memorandum has been prepared for the assistance of clients considering creating a trust in Jersey. It is intended to provide a summary of the main legal requirements and general principles applicable to the establishment and administration of trusts. It is not intended to be comprehensive in its scope and it is recommended that a client seek legal advice on any proposed transaction prior to taking steps to implement it.