The Legal 500 United Kingdom 2012 > Jersey > Overview

Leading individuals

Regional review

The dark side of banking work, such as refinancing and restructuring advice, remained more active in Jersey than new-money transactions. As for M&A, big-ticket matters were relatively quiet across the jurisdiction through 2011, but many firms enjoyed a steady stream of lower-profile M&A deals, particularly in the latter part of 2011, and 2012 saw an encouraging start.

If Waitrose’s acquisition of Safeway was 2010’s deal of the year in Jersey, for 2011 it was Glencore International’s IPOs. Leaving Glencore valued at approximately $60bn and one of the largest companies on the FTSE 100 index, this was by far the largest transaction the island has seen in recent times, and was London’s largest fundraising on record. Mourant Ozannes acted as sole Jersey legal adviser to Glencore International on its London and Hong Kong primary and secondary listing, and Ogier was Jersey legal adviser to the underwriters. Other high-profile deals included the flotation of Jersey company Vallares on the main market of the London Stock Exchange.

Trust litigation remains extremely busy in Jersey, but practitioners also report an increased flow of investment fund disputes, directors’ duties claims, employee actions and shareholder disputes. Furthermore, third party funders of litigation are becoming increasingly active in relation to Jersey-based disputes, more so after pan-Channel Islands firm Bedell Cristin won a 2011 judgement in Re the Valetta Trust, in which the Jersey Royal Court supported the concept of allowing professional third-party funders to back litigants in return for a percentage of any awards made.

Amendments due to be made to the Jersey Security Interests Law in 2012 will also create opportunities for fee income in relation to updating current documents and implementing new documents. Finally, e-gaming and e-commerce continues to develop, and Jersey is particularly keen on encouraging this industry.

In the island’s legal market, Carey Olsen, Mourant Ozannes and Ogier remain the firms most likely to be called in for big-ticket international work, while Appleby is the only law firm with offices in Jersey, Guernsey and Isle of Man. However, after Collas Day in Guernsey and Crill Canavan in Jersey merged to create full-service Channel Islands firm Collas Crill, 2011 saw a major push being made by Jersey’s newest pan-Channel Islands contender, which has 19 partners across both islands and has strengthened its presence both locally and internationally.

Looking to expand its global offering even further, Mourant Ozannes plans to open an office in the BVI in 2012, while in 2011 Collas Crill launched an office in Singapore, and Ogier opened in both Shanghai and Luxembourg, with Daniel Richards relocating to Luxembourg to lead a joint Jersey-Luxembourg funds team.

Although only formed in July 2010, as a spin-off from Collas Crill’s pre-merged Crill Canavan, Pinel O’Shea ceased trading in January 2012. Andrew Pinel then formed two-partner firm Pinel Advocates, specialising in investment funds, corporate and commercial, trusts and foundations and regulatory business; and trusts and tax lawyer Carl O’Shea joined Hatstone Lawyers, a firm founded by former Mourant Ozannes partners Marcus Stone and Simon Vivian , which specialises in investment funds, commercial law, banking, financial services, property finance, and private wealth.

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