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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

Carey Olsen handles a range of finance work, with a strong presence in top-tier investment fund finance and cross-border real estate finance deals. In fund finance, the firm handles large deals for well-known banks dealing with elite fund managers and the reverse, with some of the team having practices crossing over with fund formation. Andrew Boyce advises leading banks and heavyweight private equity managers in this space, with Ben Morgan's highlights including real estate finance transactions - Annette Alexander's practice covers both streams. Tom Carey's workload also includes advising leading private equity houses on fund finance transactions.

Practice head(s):Andrew Boyce; Ben Morgan

Other key lawyers:David Crosland; Tom Carey; Andrew Boyce; Ben Morgan

Key Clients

Blue Diamond

Heitman LLC

Quadrant Real Estate

Work highlights

  • Advised Blue Diamond on the financing of its purchase of eight branches of Wyvale Garden Centres from Terra Firma Capital Partners.
  • Advised Quadrant Real Estate on a £36.9m mezzanine term loan for the redevelopment of retail parks in Bristol and Kirkcaldy.
Leading individuals

Andrew Boyce - Carey Olsen

Annette Alexander - Carey Olsen

Ben Morgan - Carey Olsen

Tom Carey - Carey Olsen

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Capital markets
Capital markets - ranked: tier 1

Carey Olsen

Carey Olsen's broader corporate practice handles heavyweight London listings for Guernsey issuers, as well as listings on The International Stock Exchange (TISE). Tom Carey handles public M&A deals, while Tony Lane, Annette Alexander and David Crosland also handle TISE listings. In addition, Guernsey corporate and finance head Ben Morgan has listed funds expertise.

Practice head(s):Ben Morgan

Other key lawyers:Tom Carey; Tony Lane; Annette Alexander; David Crosland

Testimonials

'The best offshore firm experience - it provides a full service and is responsive and human.'

'Tom Carey, Tony Lane and Annette Alexander are stand-outs - they are all technically able and focused on finding commercially attractive solutions.'

Key Clients

Jura Acquisition Limited

Pitcon Property Income

Stenprop

Marble Point Loan Financing

Pershing Square Holdings

Starwood European Real Estate Financing

BH Macro

Ashmore Global Opportunities

Work highlights

  • Advised a consortium of funds, led by Dalmore and Equitix, on a takeover of former FTSE 250 listed John Laing Infrastructure Fund.
  • Advised Scientific Games on a €575m TISE-listed high yield issuance.
  • Advised JTC Fund Solutions on the Guernsey elements of its listing on the London Stock Exchange.
  • Advised Ravenscroft on its restructuring and re-listing on The International Stock Exchange.
  • Advised a hotel operator on issuing £44.2m of loan notes and listing them on The International Stock Exchange.
Leading individuals

David Crosland - Carey Olsen

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Commercial property
Commercial property - ranked: tier 1

Carey Olsen

Carey Olsen remains a market leader in Guernsey’s commercial property sector, advising private lenders and international banks on purchases, sales, and construction projects. Jason Morgan is retained by some of the bailiwick’s foremost retailers and hospitality businesses for drafting and negotiating leases, land and building acquisitions and advising on licensing laws. The team remains stable with Davey Le Marquand and senior associate John Le Tissier being prominent names in the local property market; significant recent mandates included assisting with the due diligence and acquisition of a number of mixed-use developments, rent reviews and commercial letting.

Practice head(s):Jason Morgan

Other key lawyers:John Le Tissier; Davey Le Marquand

Testimonials

'Provides, excellent prompt service and sound commercial advice'

'Carey Olsen has a depth of knowledge and expertise of the Channel Islands property markets that very few, if any, firms can compete with'

'A very professional property team'

'Jason Morgan, Rachel Jones and Christopher Philpott are all extremely knowledgeable in their fields and present that knowledge in an accessible way tailored to their audience'

Key Clients

Augentius (Guernsey)

Crescendo Advisors International

Close Brothers Properties (Guernsey)

Trustees of the Webb Guernsey Property Unit Trust

BGC Holdings

Skipton International (Guernsey)

LPE Limited

Specsavers

ABN Amro Channel Islands

RW Randall Limited

Stenprop

States of Alderney

JTC Group

Jacksons

SPP Holdings

Investec

Polygon Group

Schuh

Fat Face

Artex

PwC

Sure International

National Trust of Guernsey

BNP Paribas

Augentius (Guernsey)

Leading individuals

Davey Le Marquand - Carey Olsen

Jason Morgan - Carey Olsen

Next Generation Partners

John Le Tissier - Carey Olsen

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

Carey Olsen

Carey Olsen handles the Guernsey aspects of heavyweight M&A deals, including public M&A and private equity deals. Tony Lane and Tom Carey handle complex cross-border M&A deals, with Andrew Boyce's practice including deals involving institutional investors, crossing over with his fund formation practice. Annette Alexander is another notable partner. is a key senior associate for M&A work. Senior associates Gemma Campbell and John Scanlan are also highly regarded, while James Stockwell, another senior associate in the team, qualified as a Guernsey advocate in 2018.

Practice head(s):Tom Carey; Ben Morgan

Other key lawyers:Tony Lane; Andrew Boyce; Annette Alexander; John Scanlan; Gemma Campbell; James Stockwell

Testimonials

'A serious quality outfit whose legal and commercial knowledge in Guernsey is second-to-none.'

'If it's already been done in Guernsey, Ben Morgan and his team were no doubt the trailblazers, and if not, he is a go-to man to do it for the first time.'

'Annette Alexander always tries to come up with solutions in terms that lay clients can understand - she is also very good when ideas are being bounced around at an early stage to avoid further problems down the line.'

'Gemma Campbell is an amazingly talented lawyer with the right mix of legal and commercial knowledge.'

Key Clients

Stenprop

CEIBA Investments

JTC Fund Solutions

Terra Firma Capital Partners

Royal London Asset Management

Apex Services

Picton Property Income

Blue Water Energy

Butterfield Group

Jura Acquisition

Work highlights

  • Advised The Stars Group, owner of PokerStars, on its purchase of Sky Betting & Gaming for cash and shares from CVC Capital Partners and Sky.
  • Advised Jura Acquisition Limited, a consortium backed by among others Dalmore and Equitix, on its purchase of John Laing Infrastructure Fund for £1.45bn.
  • Advised Blue Water Energy on a joint investment alongside Blackstone in in Mime Petroleum, which is focused on Norwegian assets.
  • Advised Terra Firma Capital Partners on its purchase of Finnish real estate company Parmaco from MB Funds, a Finnish private equity house, for €400m.
  • Advised Stobart Group on defending an attempt by a minority shareholder to eject the company's chairman.
Leading individuals

Andrew Boyce - Carey Olsen

Tom Carey - Carey Olsen

Tony Lane - Carey Olsen

Rising stars

Gemma Campbell - Carey Olsen

James Stockwell - Carey Olsen

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Dispute resolution
Dispute resolution - ranked: tier 1

Carey Olsen

Carey Olsen has an established reputation for acting on local and international disputes, representing parties in the corporate, commercial, financial services, trusts and intellectual property fields. With the election of David Jones to the partnership in 2019, the team boasts an exceptionally strong insolvency offering for high-profile domestic and multi-jurisdictional mandates. Clients highly praise John Greenfield ('invaluable'), Elaine Gray ('indefatigable and indestructible'), Karen Le Cras ('very clever and approachable') and Tim Corfield ('extremely strategic'; 'incredibly thorough'). The client base includes a healthy roster of banks and financial services providers, public bodies, trust companies and UK law firms, with further mandates including fraud, asset tracing, employment, data protection, professional negligence and contentious regulatory matters.

Practice head(s):Elaine Gray

Other key lawyers:John Greenfield; Tim Corfield; Karen Le Cras; David Jones

Testimonials

'The firm works seamlessly to provide a faultless service'

'Carey Olsen is the market leader, with a depth of quality and resources unmatched in the jurisdiction'

'An excellent law firm'

'The first port of call for serious commercial litigation in Guernsey'

'Carey Olsen has a really hardworking and supportive team'

'Mark Dunster is totally frank and always available to the client'

'David Jones stands out as having both the ability to deliver in court with great technical ability and the practical application of the restructuring process'

'Karen Le Cras is approachable, very clever, and gets the job done'

'Whatever you throw at Elaine Gray, she will deal with in consummate professional style'

'John Greenfield has an encyclopedic knowledge of Guernsey law, having appeared in most of the main cases for the past 30 years'

'Tim Corfield is also an excellent team leader and a delight to work with'

Key Clients

Grant Thornton

Highland Capital Management

Joannou & Paraskevaides Overseas (JPO)

KRys Global

NYX Gaming Group

PricewaterhouseCoopers

Royal Bank of Canada

SG Kleinwort

St Anne's Trustees

Stanley Gibbons

Stobart Group

Work highlights

  • Representing the joint liquidators of four BVI companies, which obtained judgement for over £179m plus interest in one the longest-running trust cases in Guernsey.
  • Acting for an international investment bank and its trust division in relation to a multi-party $250m dispute over funds belonging to former Ukrainian prime minister Pavlo Lazarenko, who was convicted of money laundering and wire fraud in the US in 2006.
  • Advising the joint liquidators of Joannou & Paraskevaides Overseas.
  • Representing Kleinwort Benson, which is attempting to wind up a trust and enable distribution to unit holders.
  • Acted for Intertrust in a breach of contract and misrepresentation claim forwarded by CDS Superstores International.
Leading individuals

Elaine Gray - Carey Olsen

John Greenfield - Carey Olsen

Karen Le Cras - Carey Olsen

Tim Corfield - Carey Olsen

Next Generation Partners

David Jones - Carey Olsen

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Employment
Employment - ranked: tier 1

Carey Olsen

Following a number of new hires and successful tender bids, Carey Olsen’s employment practice has seen a significant expansion of its client base of local and international businesses, financial services institutions and trust companies. A particularly strong contentious offering receives regular instructions for constructive and unfair dismissal claims, breach of trust claims, executive exits and contractual disputes. Non-contentious work include advising on employee and director agreements, contract reviews, as well as assisting the corporate team on the employment aspects of corporate transactions. Employment litigators Elaine Gray and Mark Dunster head the team, while highly-praised counsel Carly Parrott ('formidable negotiator') has a strong reputation for her work with financial services, professional services, commercial and retail clients.

Practice head(s):Elaine Gray

Other key lawyers:Carly Parrot; Mark Dunster; John Greenfield

Testimonials

Carey Olsen has a wealth of local knowledge and experience and expertise in employment related matters

Very approachable and very knowledgeable

A formidable negotiating team

Carly Parrott combines a superb knowledge of the law with a very pragmatic approach, which can be robust where necessary, but also recognises what is important to those involved

Carly Parrott provides careful and realistic advice

Carly Parrott is particularly approachable, helpful and thorough

Elaine Gray stands out for her expansive knowledge, friendliness and good advice

Elaine Gray is an excellent employment specialist

John Greenfield and Mark Dunster are very effective litigators for heavyweight commercial employment cases

Leading individuals

Elaine Gray - Carey Olsen

Next Generation Partners

Carly Parrot - Carey Olsen

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Insurance
Insurance - ranked: tier 1

Carey Olsen

Carey Olsen’s insurance team is particularly known for its reputation advising on insurance-related M&A deals, with the team handling the regulatory aspects of a number of significant transactions in this sector. Practice heads Christopher Anderson and Konrad Friedlaender have significant experience handling captive insurance structuring and multi-jurisdictional reinsurance transfers, deploying local regulatory expertise. The practice retains a large quantity of insurers on its client roster and regularly receives referrals from leading UK-based law firms.

Practice head(s):Christopher Anderson; Konrad Friedlaender

Testimonials

'Responsive, knowledgeable and responds quickly and efficiently'

Key Clients

Marsh Management Services Guernsey Limited

Sinarmas Land Limited

Prudential Assurance Ltd

Phoenix Life Insurance Ltd

AON

Old Mutual

Aviva Life & Pensions

AXA

Euroben Life & Pensions

Cigna Corp/Express Scripts

Work highlights

  • Advising Cigna Corp with the regulatory aspects of its merger with Express Scripts.
  • Represented Marsh in the acquisition of all of the issued management shares in the core of Hector Insurance PCC.
Leading individuals

Christopher Anderson - Carey Olsen

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Investment funds
Investment funds - ranked: tier 1

Carey Olsen

Carey Olsen handles a mix of funds work, clearly leading some statistical measures of funds advice. The firm handles private funds work instructed via elite London firms for some of the global elite private equity fund sponsors, with Tom Carey, Annette Alexander, David Crosland, Andrew Boyce and Ben Morgan leading key work in this area; a number of those also have expertise in handling listed funds work. Chris Hutley-Hurst is a well-respected senior associate, as is Gemma Campbell, who co-operates with Alexander and Morgan on work for elite private equity houses.

Practice head(s):Ben Morgan

Other key lawyers:Tom Carey; Annette; Alexander; David Crosland; Andrew Boyce; Chris Hutley-Hurst; Gemma Campbell

Testimonials

'The Carey Olsen team is truly first-class: it is has very broad and deep experience and a real focus on combining technical excellence with commercial acumen.'

'What differentiates the firm is the team's solutions-oriented approach: they never present issues without suggestions on how to resolve them.'

'The relationship and respect Carey Olsen has with the Guernsey Financial Services Commission is exceptional, and of great assistance when up against a tight time frame.'

'David Crosland is very focused on delivering pathways to the result the client wants.'

'Annette Alexander manages her relationships with a true ownership mindset - working with her and her team is a real partnership.'

'Chris Hutley-Hurst is a very capable senior associate who is also a really nice guy.'

Key Clients

Permira

Marble Point Loan Financing

Inflexion Private Equity Partners

CEIBA Investments

Alchemy Partners

ADM Capital

Macquarie Group

Blue Water Energy

Alchemy Partners

Terra Firma Capital Partners

Work highlights

  • Advised Inflexion Private Equity Partners on forming Inflexion Buyout Fund V, which raised £1.25bn, and Inflexion Partnership Capital Fund II, which raised £1bn - both of which were oversubscribed.
  • Advised Alchemy Partners on forming a special opportunity fund, Alchemy Special Opportunities Fund IV, which raised its hard cap of £900m.
  • Advised Picton Property Income, a fund with a net asset value of around £500m, on its transition from a Guernsey resident collective investment scheme to a UK REIT.
  • Advised ADM Capital on the designation of its agribusiness fund, the Cibus Fund, as the first Guernsey Green Fund.
  • Advised Permira on forming Permira Growth Opportunities and Permira Sigma V, a debt fund investing in European CLOs.
Leading individuals

Andrew Boyce - Carey Olsen

Annette Alexander - Carey Olsen

Ben Morgan - Carey Olsen

David Crosland - Carey Olsen

Rising stars

Chris Hutley-Hurst - Carey Olsen

Gemma Campbell - Carey Olsen

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

Carey Olsen

Carey Olsen has a market-leading presence in the private trust and family office sectors, regularly handing multimillion and multibillion-dollar restructuring and establishment exercises for a lengthy client list of high-net-worth individuals and their advisers, as well as receiving referrals from leading London law firms. The team which includes practice head Russell Clark, Konrad Friedlaender and Natasha Kapp, is also well-equipped to handle trust company M&A, as well as semi-contentious trust rectification mandates and trust litigation. Counsel Patricia Montgomery often advises fiduciaries on regulatory obligations, estate administration and inheritance laws, while Laila Arstall is recommended for her knowledge of tax issues relating to the structuring of offshore pension arrangements.

Practice head(s):Russell Clark

Other key lawyers:Konrad Friedlaender; Natasha Kapp; Patricia Montgomery; Laila Arstall

Testimonials

Carey Olsen has a large pool of talent to call upon with an excellent complimentary skill set

'Impressive depth and breadth of knowledge across different subjects and jurisdictions

Responsive and professional, with strong leadership and attention to detail

An exceptional firm that has always been able to deliver what is needed in a constructive, timely and professional manner

An extremely pleasant practice to deal with, with a high degree of knowledge and experience

Delivers a commercially focused, high-value service

Natasha Kapp has an impressive depth of knowledge

Russell Clark is authoritative and influential

The team is incredibly responsive with well thought out and logically presented advice

Key Clients

Butterfield Trust

Northern Trust

Intertrust

RBC

Leading individuals

Konrad Friedlaender - Carey Olsen

Natasha Kapp - Carey Olsen

Russell Clark - Carey Olsen

Next Generation Partners

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

    ‚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).