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FORT ANNE, DOUGLAS, IM1 5PD, ISLE OF MAN
Tel:
Work 01624 638300
Fax:
Fax 01624 638333
Email:
Web:
www.cains.com

Isle of Man

Banking and finance
Banking and finance - ranked: tier 1

Cains

Cains recently acted as Isle of Man counsel for Four Seasons in the amendment and restatement of a substantial loan and the restructuring of its outstanding senior bonds, led by of counsel Garry Manley and the ‘very responsive’ Tristan Head. In other highlights, of counsel Scott Leonard-Morgan advised Merrill Lynch and its trust company on the regulatory issues surrounding its sale to the JTC Group, and Richard Vanderplank advised a major bank on Isle of Man law regarding its ring-fencing project. Another name to note in Douglas is of counsel Steven Quayle, who teamed up with Leonard-Morgan to assist an aircraft leasing company with the Isle of Man aspects of its international restructuring of its existing financial agreements.

Leading individuals

Tristan Head - Cains

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Commercial property
Commercial property - ranked: tier 1

Cains

Cains was recently instructed by a real estate developer as Isle of Man counsel on its loan to a local company to fund the development of a prime property asset in London, and of counsel Alex Poole-Wilson acted for the Channel Islands Property Fund in its acquisition of Zurich House from Dandara, as well as the subsequent relocation of new tenant Zurich Financial Services. Also notable is Poole-Wilson’s work for First Names pertaining to the sale and leaseback of its Isle of Man headquarters, and his assistance with Manx Telecom’s office lease swap and various matters relating to the Telecommunications Code. Jeremy Walton heads the firm’s property and private client offering and is also a key name to note.

Leading individuals

Alex Poole-Wilson - Cains

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Corporate and commercial
Corporate and commercial - ranked: tier 1

Cains

Cains ‘has a great commercial team’ which ‘has good links with regulators and always has a good understanding of what they expect from a transaction’. Tristan Head ‘acts as a very capable interpreter for those not fluent in legalese’ and draws much praise from clients for ‘making sure he understands the nature of a problem fully before providing advice’; also notable is Richard Vanderplank, who acted as Isle of Man counsel, with the support of associate Matthew Wilkinson, on the international acquisition of a manufacturing company by an American multinational corporation. Global Logistics instructed Garry Manley to oversee its ultimately unsuccessful bid to acquire Logicor, and he worked alongside Vanderplank to assist Sky with the local securities law aspects of its purchase of 21st Century Fox. Associate Matthew Quinn is also a name to note.

Leading individuals
Next generation lawyers

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Dispute resolution
Dispute resolution - ranked: tier 1

Cains

Cains’ Peter Clucas represented the FSA in two appeals against previously imposed prohibition orders against individuals, and obtained a number of court approvals with regard to significant corporate transactions and the transfer of insurance schemes for clients such as LCLI. On the white-collar crime front, Robert Colquitt continues to advise Stuart Smalley & Coand its insurers on the civil law aspects of the imprisonment of a former consultant following the discovery of a large-scale fraud and theft scheme, and Hogan Lovells International LLP appointed him to enforce a number of Russian and English High Court judgments in the Isle of Man against a Russian individual. Seth Caine recently obtained an anti-suit injunction on behalf of Excalibur Almaz against a Japanese businessman to stop him from filing claims against the client in Texas; senior associate Jacqui Owens is also a key name to note and is currently defending Nedbank in claims pertaining to allegations of fraudulent payment requests.

Leading individuals

Peter Clucas - Cains

Seth Caine - Cains

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Insurance and pensions
Insurance and pensions - ranked: tier 3

Cains

Cains’ Richard Vanderplank recently led the advice to Aviva on its disposal of Friends Provident to RL360, supported by of counsel Alex Poole-Wilson. Also notable is of counsel Jonathan Latham, who supported Vanderplank with regard to his regulatory advice to an international offshore bond products business which sought counsel regarding the future of its offshore business in the event of a hard Brexit; Latham was also part of the team which assisted a captive insurer incorporated in the Isle of Man with its restructuring to become tax-registered in the UK.

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Investment funds and capital markets
Investment funds and capital markets - ranked: tier 2

Cains

Eros International recently appointed Cains’ Michael Edwards to handle its registered direct offering of $122.5m of its senior convertible notes and warrants to purchase two million of its ordinary shares. Edwards also led the advice to Genting Berhad with regard to a $1bn debt notes issue – and the subsequent $500m issue – which resulted in the listing of an Isle of Man company on the Hong Kong Stock Exchange. Also notable is Richard Vanderplank, who acted for J.P. Morgan Securities as global coordinator, arranger, dealer and book-runner for the €1bn medium-term notes programme of NE Property Coöperatief guaranteed by an Isle of Man company.

Leading individuals

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Shipping, aviation and space
Shipping, aviation and space - ranked: tier 1

Cains

Cains’ Garry Manley acted as sole Isle of Man counsel to a group of banks in the assignment of a ship financing loan, and of counsel Steven Quayle is currently advising an airline on the delivery of 12 new passenger aircraft vessels. A global shipping company appointed the group to oversee the shipping issues – including loan and security arrangements, potential repossessions and the sale of profitable assets – arising from the insolvency of a number of its subsidiaries. Alongside a number of vessel acquisition financing transactions and asset repossessions, the team also oversaw the partial de-syndication of a high-value loan facility to an Isle of Man-based borrower group on behalf of a European bank, with the support of associate Mary-Louise Buxton.

Leading individuals

Steven Quayle - Cains

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Further information on Cains

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Isle of Man

Offices in Douglas

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