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Carey Olsen

PO BOX 98, CAREY HOUSE, LES BANQUES, ST PETER PORT, GY1 4BZ, GUERNSEY
Tel:
Work 01481 727272
Fax:
Fax 01481 711052
Email:
Web:
www.careyolsen.com

Guernsey

Banking and finance
Banking and finance - ranked: tier 1

Carey Olsen

The ‘outstanding’ team at Carey Olsen ‘is always available and willing to discuss issues in a wider context to achieve the best solutions for all parties involved’. Representing a significant portion of the world’s leading banks, with a strong expertise in the listing of debt on The International Stock Exchange (TISE), the group is led by Ben Morgan and Andrew Boyce, whose ‘advice is at a very high standard’. In recent highlights, David Crosland acted for Canaccord Genuity in the acquisition financing for the purchase of Hargreave Hale, and the ‘extremely responsive and user-friendlyTom Carey advised Permira as borrower under a multi-currency revolving facility agreement on the granting of related security. On the junior level, senior associate Vaishali Gupta supported Boyce to guide a major bank through its lending to funds managed by leading European private equity firms. Also notable are the ‘technically excellent and very commercialAnnette Alexander and Anthony Lane.

Leading individuals

Andrew Boyce - Carey Olsen

Next generation lawyers

Annette Alexander - Carey Olsen

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Commercial property
Commercial property - ranked: tier 1

Carey Olsen

The ‘superb service’ at Carey Olsen ‘ticks all the boxes’ and the team ‘is constructive in resolving any conflicts which may arise’. Jason Morgan heads the practice. He and Davey Le Marquand ‘are well known as expert advisers’ in the field of commercial property; Le Marquand recently acted for a retailer in its relocation to a high-street location, and Morgan represented the lender in the refinancing and acquisition of two properties in Jersey. Senior associate John Le Tissier was part of the team overseeing a headquarters site transfer via a surrender of lease, and ‘excellent’ senior associate Rachel Jones handled a number of leasing issues pertaining to, among others, the entry of a new retailer and the opening of its first store in St Peter Port. Also notable is senior associate Allan Skirrow, who sits in the corporate and finance practice.

Leading individuals

David Le Marquand - Carey Olsen

Jason Morgan - Carey Olsen

Next generation lawyers

John Le Tissier - Carey Olsen

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

Carey Olsen

Carey Olsen ‘is the stand-out firm in the Channel Islands’ in the field of corporate and commercial law, and clients particularly rate the ‘extremely responsive and user-friendlyTony Lane, Annette Alexander and Tom Carey, who jointly heads the team with Ben Morgan. In recent highlights, NYX Gaming appointed the team to advise on its recommended takeover by Scientific Games via a scheme of arrangement, and longstanding client Bushveld instructed Lane to oversee its acquisition of a 55% interest in Vametco from Yellow Dragon and the separation of its tin mining assets from the main group. Andrew Boyce handled a minority recapitalisation matter on behalf of an independent global asset manager, and a corporate restructuring transaction. Senior associate James Stockwell is also a key contact.

Leading individuals

Andrew Boyce - Carey Olsen

Tom Carey - Carey Olsen

Next generation lawyers

Annette Alexander - Carey Olsen

James Stockwell - Carey Olsen

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Dispute resolution
Dispute resolution - ranked: tier 1

Carey Olsen

Carey Olsen fields a ‘consistently strong team’ which clients describe as ‘adaptable’, ‘results-driven’, ‘pre-eminent’ and ‘second to none’. Among the key names to note is the ‘conscientious, cooperative, approachable and sensibleKaren Le Cras, whose ‘wealth of experience and sound instincts’ make her a client favourite, alongside the ‘extremely bright and effectiveElaine Gray. On the trust front, John Greenfield and Gray continue to act for the joint liquidators in the landmark Tchenguiz case, and Le Cras represented the trustee of a retirement plan in a Hastings-Bass application by one of its beneficiaries. Tim Corfield is ‘the best litigator on the island’, according to one client, and recently obtained the court’s approval on behalf of NYX Gaming with regard to its acquisition by Scientific Games via a scheme of arrangement. The team also frequently defends insurers and medical professionals in mistreatment and negligence claims, handles commercial disputes arising out of insolvencies, and advises clients on issues including asset tracing, fraud claims and regulatory breaches. Counsel David Jones is also a key contact.

Leading individuals

John Greenfield - Carey Olsen

Karen Le Cras - Carey Olsen

Tim Corfield - Carey Olsen

Next generation lawyers

David Jones - Carey Olsen

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Employment
Employment - ranked: tier 1

Carey Olsen

The ‘phenomenal’ employment team at Carey Olsen is ‘very personable, approachable and easy to deal with’ and ‘among the very best non-UK law outfits’. Recently bolstered by the arrival of ‘supportive and understanding’ counsel Carly Parrott from Mourant Ozannes, the group gained a major new client in the retail sector to whom it provides ongoing employment advice. Practice head Elaine Gray advised an insurance company on the exit of two senior executives in the context of allegations of sexual misconduct and breach of fiduciary duties, and associate Tim Molton was part of the team assisting a trust company with the employment aspects of its acquisition of another fiduciary entity. For pension-related queries, clients can turn to Konrad Friedlaender, while Mark Dunster has substantial litigious experience and specialises in corporate governance and regulatory issues.

Leading individuals

Elaine Gray - Carey Olsen

Next generation lawyers

Carly Parrott - Carey Olsen

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Insurance
Insurance - ranked: tier 1

Carey Olsen

At Carey Olsen, ‘the service is excellent with timely and pragmatic advice received on every occasion’. Chris Anderson is ‘both pragmatic and responsive’ and senior associate James Stockwell ‘is excellent at providing simple solutions to potentially complex issues’. The pair recently acted for Marsh Guernsey on a transaction using Guernsey-incorporated cells to transfer £3.4bn of its parent company’s longevity risk liabilities. Also highly recommended is Konrad Friedlaender, who is currently assisting an insurer with a number of matters including changes to several of its existing reinsurance, security and policyholder protection arrangements. In other highlights, the group was instructed to establish insurance-linked securities funds and captive insurers in Guernsey on behalf of a pension plan trustee, and private client partner Natasha Kapp oversaw the redemption of policies and the reinvestment of the proceeds by way of additional premia on policies on behalf of a life assurance provider.

Leading individuals

Christopher Anderson - Carey Olsen

Next generation lawyers

James Stockwell - Carey Olsen

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Investment funds
Investment funds - ranked: tier 1

Carey Olsen

Carey Olsen has ‘a number of highly experienced lawyers’ and ‘has built up a significant knowledge of Guernsey funds and offshore funds in general’, making it 'undoubtedly the "go-to" firm for offshore funds work', according to one client. Clients engage Ben Morgan's team to oversee private equity fund formations across a wide range of asset classes, as well as to handle financing mandates. Morgan and Tom Carey are 'both very experienced, responsive and approachable' and 'understand the current regulatory and market landscape'. In recent highlights, the 'excellentAnnette Alexander acted for Octopus Healthcare in the initial fund raise of £82m for its latest institutional fund. Also notable is Andrew Boyce, who recently assisted Blue Water Energy on the $1.1bn final closing of its BWE Fund II. Christopher Anderson is also a key name to note for work pertaining to insurance, investment funds and incorporated cell companies.

Leading individuals

Andrew Boyce - Carey Olsen

Ben Morgan - Carey Olsen

Next generation lawyers

Annette Alexander - Carey Olsen

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Private client, trusts and tax
Private client, trusts and tax - ranked: tier 1

Carey Olsen

Carey Olsen’s ‘well-connected and business-mindedRussell Clark and ‘technical specialistKonrad Friedlaender are ‘leading experts in their field with a pragmatic and friendly approach’ and are among the main names to note in the firm’s ‘excellent’ private client and trusts team. As well as a number of applications to the Royal Court concerning momentous decisions on the administration of trust structures, the group recently handled the setting up of family offices, private trust foundations and significant transactions in the fiduciary space. Natasha Kapp is currently acting for a major global bank in a number of matters arising from rogue trading which took place on the investment portfolio held in a trust-owned company, and ‘approachable and helpful’ associate Robert Quinn is part of the team defending the trustees of a Guernsey structure in a breach of trust claim pertaining to investments. Also notable are the ‘unflappablePatricia Montgomery and ‘tax specialistLaila Arstall – ‘what she doesn’t know about tax and compliance law in Guernsey probably isn’t worth knowing about’ – who act as counsel within the team.

Leading individuals

Konrad Friedlaender - Carey Olsen

Russell Clark - Carey Olsen

Next generation lawyers

Laila Arstall - Carey Olsen

Patricia Montgomery - Carey Olsen

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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

    • New Competition Law for Guernsey in force on 1 August 2012 • Jersey and Guernsey now both regulate the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions • Key differences between the islands' competition laws • 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 “Companies Law”).