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Mourant

ROYAL CHAMBERS, ST JULIAN'S AVENUE, ST PETER PORT, GY1 4HP, GUERNSEY
Tel:
Work 01481 723466
Fax:
Fax 01481 727935
Web:
www.mourant.com/guernsey

Guernsey

Banking and finance
Banking and finance - ranked: tier 1

Mourant

Mourant has expertise in fund finance, acting for both managers and banks, as well as real estate finance, including structured deals and work for non-bank lenders. M&A acquisition finance and shipping finance are more niche areas in which the firm has handled deals. Caroline Chan has a track record of handling sensitive restructurings as well as real estate finance, while Darren Bacon and John Lewis are active in fund financing transactions for well-known borrowers. Helen Wyatt focuses on banking sector transactions against highly complex regulatory backdrops. Frances Watson also acts for borrowers and lenders, including non-bank lenders, with John Rochester particularly active in UK real estate deals. Dylan Latimer, previously a counsel at the firm, is now a partner at Bedell Cristin.

Practice head(s):John Lewis

Other key lawyers:Caroline Chan; Darren Bacon; Helen Wyatt; Frances Watson; John Rochester

Testimonials

'I found the team really helpful; they were happy to turn things at the last minute and followed up with us on the transaction to make sure they were available when needed.'

'The team have been particularly helpful with their detailed knowledge of local practice.'

Work highlights

  • Advised a FTSE 250-listed fund on borrowing £150m, £50m of which in an accordion tranche.
Leading individuals

Caroline Chan - Mourant

John Lewis - Mourant

Next Generation Partners

Frances Watson - Mourant

Helen Wyatt - Mourant

John Rochester - Mourant

Rising stars

Dylan Latimer - Mourant

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Capital markets
Capital markets - ranked: tier 1

Mourant

Mourant's corporate practice handles capital markets work, ranging from the Guernsey elements of cross-border IPOs, listed funds work, debt capital markets and public M&A, among other matters. Darren Bacon handles listed fund share issuance mandates, while Caroline Chan's work include note listings, with John Rochester also handling note issuances. Frances Watson's practice includes, among other matters, equity capital markets. Blockchain is another area of expertise for the firm.

Practice head(s):John Lewis

Other key lawyers:Darren Bacon; Caroline Chan; John Rochester; Frances Watson

Testimonials

'The team has a good grasp of the markets, how they work and what is needed, without over-complicating issues.'

Key Clients

Chenavari Capital Solutions

Funding Circle SME Income Fund

John Laing Infrastructure Fund

LondonMetric Property

Investec World Axis

Work highlights

  • Advised a listed fund, which owns loans to SMEs originated through Funding Circle, on a share placing programme.
  • Advised on the listing of three tranches of notes on The International Stock Exchange.
  • Advised NextEnergy Solar Fund on the Guernsey aspects of a subscription of preference shares.
  • Advised Sequoia Economic Infrastructure Fund on the offer and placing of ordinary shares.
  • Advised Genesis Emerging Markets Fund on a tender offer of up to 10% of its shares.
Leading individuals

Caroline Chan - Mourant

Darren Bacon - Mourant

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Commercial property
Commercial property - ranked: tier 2

Mourant

Mourant enjoys a strong flow of commercial property mandates from domestic and international lenders, developers, buyers and utilities companies. Mark Torode leads the team on regular high-value property sales and purchases, lettings, construction contracts and planning matters. Another regular seam of work sees the team, with associate Laura Bougourd often assisting, handling the property aspects of corporate acquisitions and disposals by way of share purchase agreements.

Practice head(s):Mark Torode

Other key lawyers:Laura Bougourd

Testimonials

'Mourant Ozannes is responsive, diligent and always approachable on any transaction.'

'Mourant Ozannes is always prepared to go that extra mile.'

'Mourant has an excellent commercial property team. They are all very approachable and commercially minded. They work with client to find solutions to problems to keep the deal on track.'

'Laura Bougourd is one member of the team who particularly stands out as being proactive, responding quickly to enquiries and being willing to work with clients within their timeframes.'

Key Clients

Healthspan Group

Vista Groups

HSBC Bank

Guernsey Electricity

Investec (Channel Islands)

Lloyds Bank International

McAulay (Market Buildings)

Red Carnation Group

Sarnia Properties

The Royal Bank of Canada

Work highlights

  • Advising Guernsey Electric on its involvement with the £80m redevelopment of Guernsey Airport.
  • Ongoing advice to Lloyds regarding the perfection of security over Guernsey real estate.
Leading individuals

Mark Torode - Mourant

Rising stars

Laura Bougourd - Mourant

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Corporate and M&A
Corporate and M&A - ranked: tier 1

Mourant

Mourant covers the range of Guernsey corporate work, from Guernsey corporate structures holding UK real estate through to locally significant deals with assets on-island. Darren Bacon's practice includes Guernsey elements of heavyweight UK real estate deals, as well as public M&A. John Lewis  is another notable for real estate work. Helen Wyatt has expertise in corporate service provider deals, and handles work for leading names in private equity and their portfolio companies. John Rochester is also active in heavyweight deals in highly regulated sectors, including public M&A, as is Frances Watson. Counsel Alex Davies has a track record in doing public M&A, as has senior associate Alana Gillies.

Practice head(s):John Lewis

Other key lawyers:Darren Bacon; Helen Wyatt; John Rochester; Frances Watson; Alex Davies; Alana Gillies

Key Clients

Brockton

Brookfield

European Forest Resources Holding

Goldman Sachs

John Laing Infrastructure Fund

LabTech Investments

Link Administration

Pallinghurst Resources

Sky Bet

Work highlights

  • Advised Sky Betting and Gaming on the sale of the company to The Stars Group for $4.7bn.
  • Advised John Laing Infrastructure Fund on the samle of the company via Guernsey scheme of arrangement to a consortium led by Dalmore Capital and Equitix Investment Management.
  • Advised Elm Bidco on a takeover and take-private of a listed insurance company.
  • Advised Raksha Energy Holdings on its purchase and take private of AIM-listed Guernsey company Mytrah Energy, which owned 1.7GW of renewable assets in India.
  • Advised the shareholders of Nerine International Holdings on the sale of the company to PraxisIFM.
Leading individuals

Frances Watson - Mourant

John Lewis - Mourant

Rising stars

Alana Gillies - Mourant

Alex Davies - Mourant

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Dispute resolution
Dispute resolution - ranked: tier 1

Mourant

The practice at Mourant acts on the full range of instructions from its roster of multinational financial institutions, trustees and liquidator clients. Recent highlights saw the team acting in a number of highly-publicised, multi-jurisdictional insolvency instructions as well as complex trust litigation, breach of contract claims, regulatory disputes, fund litigation and corporate crime matters. The team, which includes industry-leading litigators such as Gordon Dawes, Jeremy Wessels, Robert Shepherd, Abel Lyall and the firm's managing partner Jessica Roland, also represents a number of ultra-high-net-worth individuals concerning challenges to Tax Information Exchange Agreements (TIEAs), negligence claims and beneficiary disputes. Dawes and counsel Chantel Barrett handle insurance work for, among others, the Medical Protection Society. Roland is scheduled to take the role of Deputy Bailiff, a senior full-time judicial post, in May 2020.

Practice head(s):Robert Shepherd; Jeremy Wessels

Other key lawyers:Gordon Dawes; Abel Lyall; Jessica Roland

Key Clients

Bank Julius Baer

Bank of New York Mellon

Butterfield Bank

Butterfield Trust

Credit Suisse

Deloitte

EFG Private Bank

Grant Thornton

HSBC

Insurance Corporation of the Channel Islands

Investec

Kleinwort Hambros

KPMG

Lloyds Bank

Macquarie Bank

Praxis

Royal Bank of Canada

Royal Bank of Scotland

Sir David Barclay

Saudi British Bank

Work highlights

  • Sucessfully represented the Carlyle Capital Corporation and its appointed liquidators at the first instance trial and again on appeal in October 2018 in a case concerning the collapse of a fund investing in collateralised loan obligations during the 2008 financial crash.
  • Represented Grant Thornton as administrators of a suite of investment funds and its appointment as liquidator of Lancelot. The entities comprised a series of investment funds holding total assets estimated to be in excess of £100m.
  • Instructed by Trustees of the St John Ambulance and Rescue Service Pension Scheme in relation to a multimillion-pound claim by members of the pension scheme alleging breach of duty resulting in losses totalling £7m.
Leading individuals

Gordon Dawes - Mourant

Jeremy Wessels - Mourant

Robert Shepherd - Mourant

Next Generation Partners

Abel Lyall - Mourant

Rising stars

Chantel Barrett - Mourant

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Employment
Employment - ranked: tier 1

Mourant

Mourant regularly handles the employment aspects of significant corporate transactions for global banks, funds administrators and other financial services institutions. Specific mandates involve redundancy programmes, pension issues, data protection and executive exits. The team is led by Jessica Roland, who also acts on contentious issues such as unfair dismissal and allegations of criminal activity and harassment, as well as strategic-level non-contentious work. Roland will take the role of Deputy Bailiff effective May 2020.

Practice head(s):Jessica Roland

Leading individuals

Jessica Roland - Mourant

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Insurance
Insurance - ranked: tier 1

Mourant

Mourant has a particular strength in handling long-term insurance policy transfers, with the team being instructed by leading insurance companies on some of the most significant recent deals. John Lewis and Helen Wyatt are recognised as leading lawyers in the insurance field, regularly advising on the structuring and acquisition of captive insurance vehicles, insurance-linked securities and regulatory elements of corporate transactions. The client list is comprised of multinational insurance companies and locally-held captive insurance companies, while Gordon Dawes and Chantal Barrett are the names to note for insurance-related litigation.

Practice head(s):John Lewis

Other key lawyers:Helen Wyatt; Gordon Dawes

Key Clients

Alternative Risk Management

Artex Risk Solutions

Aon Insurance Managers (Guernsey)

Aviva

Axa Wealth

Barbican Reinsurance

Canada Life

Charles Taylor

Equitable Life

Equity Insurance (ERS)

Generali Worldwide Insurance Company

Insurance Corporation of the Channel Islands

Islands Insurance

Legal & General

Marsh Management Services Guernsey

NFU Mutual

Prudential

Rothesay Life

Scottish Equitable

States of Guernsey

The Medical Protection Society (including Dental Protection Limited)

The Medical Defence Union

The Medical and Dental Defence Union of Scotland

Willis Towers Watson Management (Guernsey)

Work highlights

  • Acted for AXA concerning the change of control of a licensee under the Insurance Business (Bailiwick of Guernsey) Law, arising from the client's acquisition of the XL Group.
  • Advising on the transfer of a portfolio of long-term insurance business from Abbey Life Assurance to Phoenix Life.
  • Advising on the transferral of a portfolio of long-term insurance business from Blackrock Life to Scottish Equitable.
  • Representing the States of Guernsey via its insurer (the Insurance Corporation of the Channel Islands) in defence of all insured claims of substance brought against the Government.
  • Acting for Equity Insurance (and a number of other large UK-based insurers) on claims arising from insurance-backed risks in Guernsey.
Leading individuals

Helen Wyatt - Mourant

John Lewis - Mourant

Next Generation Partners

Chantal Barrett - Mourant

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Investment funds
Investment funds - ranked: tier 2

Mourant

Mourant handles a range of work, including complex mandates relating to leading listed funds. Caroline Chan has listed funds expertise, as does Darren Bacon; in private funds, Frances Watson  also handles billion-dollar fundraisings, as well as complex work concerning open-ended funds. Senior associate Alana Gillies is active in advising leading private equity firms. Dylan Latimer is now at Bedell Cristin.

Practice head(s):John Lewis

Other key lawyers:Caroline Chan; Darren Bacon; Frances Watson

Testimonials

'The team has a thorough grasp of the sector and issues affecting listed funds, with advice delivered in an efficient manner.'

'Frances Watson is very calm but clearly on top of all the issues, without over-complicating the points.'

Key Clients

Aberdeen Asset Management

Actis Capital

AXA Investment Management

Blackstone

HgCapital

Investec

Norvestor

OpCapita

Pantheon

SQN Capital

Work highlights

  • Advised Stonehage Fleming on launching a Guernsey fund using assets transferred from cells in protected cell company.
  • Advised Investec World Axis on launching two open-ended funds as cells of an existing protected cell company.
  • Advised NextEnergy Solar Fund on issuing preference shares.
  • Advised Sequoia Economic Infrastructure Income Fund on the offer and placing of shares.
  • Advised John Laing Infrastructure Fund on its sale to a consortium led by Dalmore Capital and Equitix Investment Management.
Leading individuals

Darren Bacon - Mourant

Frances Watson - Mourant

Rising stars

Alana Gillies - Mourant

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Private client, trusts and tax
Private client, trusts and tax - ranked: tier 2

Mourant

Mourant works seamlessly with its global presence to offer an international-focussed service to an expansive client roster of private client, trust companies and multinational financial services companies. Practice head Matthew Guthrie and Mark Torode handle non-contentious matters including the establishment of significant trust, foundation and underlying corporate structures, multi-jurisdictional restructuring exercises and the sale of businesses held within trust structures. The team has further expertise in developing, maintaining and winding-up pension schemes and employee-benefit trusts, and can call upon a strong disputes team for trust litigation. Senior associates Catherine Moore and Chris Duncan play a significant role in a substantial list of non-contentious and contentious issues respectively.

Practice head(s):Matthew Guthrie; Edward Devenport

Other key lawyers:Mark Torode; Catherine Moore; Chris Duncan

Testimonials

'The team combines various levels of seniority and experience to ensure that work is generally carried out at the right level. Matthew Guthrie and Catherine Moore are accessible, friendly and knowledgeable.'

'The preeminent Guernsey team for non-contentious trusts matters.'

'Of all the offshore law firms, Mourant really understand private wealth. Their team has strength in depth and breadth and the quality of their lawyers is second to none.'

'Matthew Guthrie is professional, client-centred, creative, pragmatic and talented. He understands the law, and more importantly partners with us to apply it in novel ways to meet our client requirements. He is available whenever we need him.'

'Matthew Guthrie is significantly technically ahead of his competition and his team benefits from that expertise.'

'Matt Guthrie is the standout lawyer in Guernsey. He combines excellent intellect with superb client handling skills and great commerciality.'

Key Clients

Albany Trust Company Limited

Albecq Trust Company Limited

Butterfield Trust (Guernsey) Limited

Credit Suisse Trust Limited

Deutsche Bank

Intertrust

Julius Baer

Nerine Trust Company Limited

Northern Trust

PraxisIFM Group

Rothschild Trust (Guernsey) Limited

Royal Bank of Canada

Saffery Champness

St Peters Trust

Trident Trust

Trust Corporation International

Leading individuals

Matthew Guthrie - Mourant

Rising stars

Catherine Moore - Mourant

Chris Duncan - Mourant

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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
  • 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.
  • The Company Administration Regime in Guernsey

    Introduction 
  • Guernsey Image Rights Legislation

    The Image Rights (Bailiwick of Guernsey) Ordinance 2012 (the Ordinance) and The Image Rights (Bailiwick of Guernsey) Regulations, 2012
  • 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.
  • 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.
  • Friendly Rivalry? The Competition Laws of the Channel Islands

    ‚ÄĘ New Competition Law for Guernsey in force on 1 August 2012 ‚ÄĘ Jersey and Guernsey now both regulate the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions ‚ÄĘ Key differences between the islands' competition laws ‚ÄĘ Overall, a pan-Channel Island approach to regulation
  • Channel Islands Stock Exchange (CISX) Rule Change Update

    Ogier Corporate Finance Limited (OCFL) is the market leader in providing listing agent services for the listing of securities on the Channel Islands Stock Exchange (CISX or the Exchange) having sponsored over 445 listings.
  • Channel Island Stock Exchange, LBG - Listing of Securities of Investment Funds

    The Channel Islands Stock Exchange, LBG (the Exchange or CISX) commenced operations on 27 October 1998 and is intended to provide recognised facilities for the listing and trading of securities issued by companies and investment funds.
  • Investment funds in Guernsey

    The investment funds industry in Guernsey has achieved significant growth in recent years. Statistics show that as at 30 June 2011 there was £274.5 billion of assets under management in Guernsey.
  • 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 ‚ÄúCompanies Law‚ÄĚ).