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Appleby

13-14 ESPLANADE, ST HELIER, JE1 1BD, JERSEY
Tel:
Work 01534 888777
Email:
Web:
www.applebyglobal.com

Jersey

Banking and finance
Banking and finance - ranked: tier 2

Appleby

Appleby covers a range of high-level work in the core areas of banking and finance, but the two headline roles for the firm during 2018 were Wendy Benjamin's work on the ring-fencing restructurings of two of the UK's big five banks. James Gaudin handles fund finance and real estate finance matters, as does Andrew Weaver.

Practice head(s):Wendy Benjamin

Other key lawyers:James Gaudin; Andrew Weaver

Testimonials

'Appleby is incredibly supportive, and delivers high-quality thought and output.'

'Wendy Benjamin demonstrates skill and a caring approach.'

Key Clients

Ashby Capital LLP

Atrium European Real Estate Limited

Barclays

HSBC

Lloyds Bank Plc

Santander

Standard Chartered Bank

The Royal Bank of Scotland plc and Royal Bank of Scotland International Limited

Work highlights

  • Advised Santander UK plc on a restructuring, transferring its Jersey offerings from Santander UK plc to Abbey National Treasury Services, to comply with UK ring-fencing regulations.
  • Advised HSBC on transferring its Jersey business into the Jersey branch of HSBC Bank plc for the purposes of UK ring-fencing requirements (the ring-fenced UK bank is known as HSBC UK Bank).
  • Advised Atrium European Real Estate on borrowing a €300m revolving facility.
  • Advised Ashby Capital on the acquisition financing for several assets, including commercial units in High Street Kensington and an office block in Farringdon.
  • Advised serviced office company Helix Property on the use of a facility to finance the purchase of three properties in the UK.
Leading individuals

Wendy Benjamin - Appleby

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Capital markets
Capital markets - ranked: tier 2

Appleby

The practice at Appleby, which is led by structured finance head James Gaudin and Andrew Weaver, handles the Jersey elements of structured finance deals, and bond and paper offerings. Securitisation is another area of expertise. The firm acts for investment funds and well-known banks, among others.

Practice head(s):James Gaudin; Andrew Weaver

Testimonials

'Andrew Weaver and his team are professional, thorough, and provide input very promptly.'

Key Clients

Atrium European Real Estate Limited

Deutsche Bank AG

Mauser Packaging Solutions Holding Company

Work highlights

  • Advised Deutsche Bank on Intertrust's €500m bond offering.
  • Advised Mauser Packaging Solutions on issuing €475m of senior first lien notes listed on TISE.
  • Advised three issuer companies of Novo Banco on consent solicitations, redeeming notes totalling €606m.
  • Advised Merrill Lynch International on a put option finance between the bank and Reinet Investments, in relation to shares in British American Tobacco.
Leading individuals

James Gaudin - Appleby

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Commercial property
Commercial property - ranked: tier 1

Appleby

Appleby advises developers, investors, financial institutions and local businesses on high-profile commercial and mixed-use development projects, commercial leases, property investment mandates and general regulatory advice. The team, which is led by noted industry expert Tim Hart, has been further strengthened with the promotion to counsel of Jonathan Anderson, who brings a proven track record in handling high-value property transactions for local and multinational investors and sellers.

Practice head(s):Tim Hart

Other key lawyers:Jonathan Anderson; John Bisson

Testimonials

'Appleby provides a very professional and competitively priced property service'

'Appleby is responsive and keeps to agreed timescales and its advice is commercial and pragmatic'

'An extremely able, experienced and commercial team, very client focused and with an unmatched understanding of the property sector in general'

'Tim Hart is always available and his carefully planned approach to each instruction results in important issues being identified early on and last minute issues being avoided'

'John Bisson always displays an excellent grasp of the issues with a versatile, proactive and commercial approach'

Key Clients

17 Queen Street Limited

Azure Hotel Investments S.A.

Barclays Bank PLC

Daisy Hill Real Estates Limited

Dandara Group

Decade Property Holdings Limited

HSBC Bank PLC

Newport (Jersey) Limited

Palladium Group

Santander

The Yacht Hotel Limited

Work highlights

  • Advised real estate investor Dandara Group in the largest single asset commercial office sale in the Channel Islands.
  • Advised The Yacht Hotel Limited on a £29m financing transaction.
  • Advised Azure Hotel Investments S.A. on all aspects of a £14.3m transaction with an established hotel operator.
  • Advised Palladium Group on an £8m development loan.
  • Advised Dandara Group on the £54.5m financing of a landmark commercial property.
Leading individuals

Tim Hart - Appleby

Rising stars

Jonathan Anderson - Appleby

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Corporate and commercial
Corporate and commercial - ranked: tier 2

Appleby

Appleby's practice handles a range of work, including major cross-border deals, often working with its other offices elsewhere in the Crown Dependencies and British Overseas Territories. Andrew Weaver handles a mix of work for both trade buyers and private equity houses, while James Gaudin's practice includes cross-border real estate and corporate transactions, and also technical company law issues. Wendy Benjamin, who divides her time between Jersey and Guernsey, handles a number of deals in financial services sectors, including restructurings of banks to comply with ring-fencing requirements.

Practice head(s):Wendy Benjamin

Other key lawyers:Andrew Weaver; James Gaudin

Testimonials

'Speedy and efficient, with practical knowledge and expertise.'

'Easy to use and likable.'

Key Clients

Ashby Capital LLP

Atrium European Real Estate Limited

AXA Partners SAS

Barclays

Helix Property Limited

HSBC

Lloyds Bank Plc

PraxisIFM

Santander

Standard Chartered Bank

Work highlights

  • Advised 21st Century Fox on the Jersey elements of its bid for Sky plc; the target was eventually purchased by Comcast.
  • Advised Jardine Lloyd Thompson Group on its £4.3bn sale to Marsh & McLennan.
  • Advised August Equity on its sale of a majority stake in VetPartners to Aves Management, and subsequently a sale of the remaining minority stake to BC Partners.
  • Advised PraxisIFM on its purchase of Nerine International Holdings.
  • Advised Ashby Capital on its purchase of several UK real estate assets for £290m.

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Dispute resolution
Dispute resolution - ranked: tier 2

Appleby

Owing to Appleby’s considerable global footprint, its Jersey team regularly receives big-ticket instructions from global financial institutions, including recent court-approved multibillion-pound restructuring mandates. The practice, which includes highly-praised advocates Michael Cushing and Fraser Robertson, also acts on trust and fiduciary disputes, professional negligence claims and contentious insolvency. Newly-promoted partner Jared Dann is also recommended for his expertise in contentious trust, fraud and asset tracing matters.

Practice head(s):Michael Cushing

Other key lawyers:Fraser Robertson; Jared Dann

Testimonials

'The team works together as a seamless unit, capable of meeting very tight deadlines'

'A strong and established team with worldwide off shore support'

'The firm's advice is always very clear and extremely practical'

'Michael Cushing is an exceptional lawyer. He combines hard work with unfailing good humour'

'Fraser Robertson and Jared Dann are both excellent court lawyers and give sound pragmatic advice'

'Michael Cushing has a breadth of experience and is great to work with'

'When it comes to large-scale court room litigation, Fraser Robertson is at the very top in the island'

Key Clients

Santander

Zedra Trust Company (Jersey) Limited

Work highlights

  • Represented Santander in the court-approved transfer of the banking business of the bank's Jersey branch.
  • Represented a trust beneficiary in a unique decision regarding validity of revocation notices.
  • Acting for the Nigerian government in relation to a $300m claim over assets held in Jersey.
  • Representing Private Equity Fund Finance Limited in its application for directions from the court to effect an orderly winding-up of a Jersey limited partnership.
Leading individuals

Fraser Robertson - Appleby

Michael Cushing - Appleby

Next Generation Partners

Jared Dann - Appleby

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Employment
Employment - ranked: tier 1

Appleby

Appleby regularly advises international businesses on non-contentious issues such as significant employee transfer exercises, employee share plans and policy reviews; disputes work includes matters such as senior director terminations, whistleblowing investigations, tribunal appeals and unfair dismissal claims. The team has grown by two partners, with the promotion of Richard Sheldon (who divides his time between Jersey and Guernsey) and recruitment of data protection specialist Richard Field from Carey Olsen. Clients include multinational financial institutions, trust companies and locally operating employers.

Practice head(s):Richard Sheldon

Other key lawyers:Richard Field

Testimonials

'Appleby's advice is pragmatic and solutions focussed'

'Richard Sheldon is outstanding'

Key Clients

Bank Julius Baer

Barclays Group

Canaccord Genuity Wealth

Clifford Chance

CMS Cameron McKenna Nabarro Olswang

CRR Hotels

Equiom

Estera

Eversheds Sutherland

Grant Thornton

HSBC Group

International Energy Group Limited

PraxisIFM

Sanne Group

Santander

Work highlights

  • Advised on the employment law implications of Santander's business transfer into Abbey National.
  • Successfully defended CRR Hotels in a tribunal claim brought by the employee for unfair dismissal, unpaid wages and holiday pay.
Next Generation Partners

Richard Sheldon - Appleby

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Investment funds
Investment funds - ranked: tier 3

Appleby

Appleby's funds practice, led by Andrew Weaver, handles mid-market fund formation work in the private equity space, as well as hedge and real estate fund redomiciliations. Clients include established German and British managers, as well as start-up hedge funds.

Practice head(s):Andrew Weaver

Testimonials

'Very helpful in managing the administrative aspects of a request, and not only the drafting.'

'Senior associate Chris Smedley is very personable, and always happy to pick up the phone to work matters through.'

 

Key Clients

Blackstone Real Estate

Halder Germany II Feeder Fund L.P.

KWVF Panther Holdco Limited

Silicon Valley Bank

Stirling Square Capital Partners

Leading individuals

Andrew Weaver - Appleby

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

Appleby

The private client and trust offering at Appleby is fully integrated into the corporate practice, with the highly-regarded David Dorgan advising the firm’s considerable blue-chip client roster. Typical mandates include the establishment, administration and restructuring of trust instruments and foundations, refinancing transactions involving trust property, pension trust wind-down instructions, employee benefit trust structuring and trust regulatory advice to private clients.

Practice head(s):David Dorgan

Testimonials

'The team is dynamic, solutions orientated and delivers an excellent service in a cost efficient manner'

'A team of excellent practitioners'

'David Dorgan is a highly specialised lawyer who is always available'

'David Dorgan has a very sound knowledge of the law.  He is pragmatic and quick to respond with good interpersonal skills'

'David Dorgan is willing to go the extra mile'

'David Dorgan has great skills to help foreign clients reach a clear and actionable plan'

'David Dorgan has a very pragmatic approach and is able and willing to work to specific deadlines to achieve a result'

Key Clients

Barclays

Estera

Equiom

RBC

RBS International

Santander

Standard Chartered Bank

UBS

Zedra

Leading individuals

David Dorgan - Appleby

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Legal Developments in Jersey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Enhanced Information for Cayman Entities

    The Cayman Islands Government has passed a number of amendment laws to strengthen Cayman's anti-money laundering and counter-financing of terrorism regime. The laws, published on 8 August 2019, are intended to help address certain recommended actions in Cayman's legislative framework identified by the Caribbean Financial Action Task Force in its evaluation report published in March 2019.
  • New Cayman Data Protection Law – A guide for Cayman funds

    The Cayman Islands Data Protection Law, 2017 ( DP Law ) is currently scheduled to come into effect on 30 September 2019.  Once commenced, it will enact a framework of rights and duties to regulate the processing of individuals' personal data broadly based on the same internationally recognised privacy principles that form the basis for other data protection laws globally.  The DP Law will regulate the processing of all personal data in the Cayman Islands and will affect any entity established in the Cayman Islands, including investment funds, that processes personal data regardless of whether such processing takes place within the Cayman Islands and regardless of whether the personal data relates to Cayman individuals.  For our full briefing see Cayman Islands Data Protection Law: An Ogier Client Guide .
  • Exempt bodies: Substance regulations may still apply

    The Income Tax (Substance Requirements)(Implementation) Regulations, 2018 as amended (the Substance Regulations ) came into force on 1 January 2019 and have recently been further updated by The Income Tax (Substance Requirements)(Implementation)(Amendment) Regulations, 2019 (the Amendment Regulations ), with effect from 1 August 2019.  The Amendment Regulations have extended the scope of the Substance Regulations to include all tax exempt bodies that have been granted an exemption under paragraphs (3) and (5) of Schedule 1 of the Income Tax (Exempt Bodies) (Guernsey) Ordinance, 1989 (as amended) (the Exempt Bodies Ordinance ).  In addition, the Amendment Regulations clarify the scope of the Substance Regulations in relation to IP Assets and High Risk IP Companies – the balance of this note focuses on the change in status of tax exempt bodies. 
  • Cayman Islands wills law heralds a more flexible approach

    The rules recognising the legal formality of wills in the Cayman Islands are prescriptive, requiring the will to be executed in writing, signed at the foot of the document by the testator and witnessed by two witnesses who formally attest the will in writing in the presence of the testator.
  • Luxembourg Government submits bill to Parliament implementing the EU Anti-Tax Avoidance Directive 2

    On 8 August 2019, the Luxembourg Government submitted a draft law to the Parliament (the Draft Law ) to implement the Council Directive (EU) 2017/952 of 29 May 2017 ( ATAD 2 or the Directive ) into Luxembourg domestic law.
  • Ogier fund finance team now offers Luxembourg legal advice from US time zone with return of Catharin

    Ogier's fund finance team now offers Luxembourg legal advice from a US time zone with the return of fund finance specialist Catharina von Finckenhagen to the Cayman Islands as a dual-qualified Luxembourg advocate and Cayman attorney.
  • Enhanced Information for Cayman Entities

    The Cayman Islands Government has passed a number of amendment laws to strengthen Cayman's anti-money laundering and counter-financing of terrorism regime. The laws, published on 8 August 2019, are intended to help address certain recommended actions in Cayman's legislative framework identified by the Caribbean Financial Action Task Force in its evaluation report published in March 2019.
  • Register of beneficial owners deadline approaching – are you ready?

    As of 1 March 2019, the Luxembourg law of 13 January 2019 (the Law ) creating a register of beneficial owners ( Registre des bénéficiaires effectifs or " RBE ") is in force.
  • Jersey substance proposals – the Banking and Finance perspective

    EU finance ministers have formally approved Jersey's economic substance legislation by removing the jurisdiction from the "grey list" on 12 March 2019 and the Privy Council granted formal approval to the Taxation (Companies - Economic Substance) (Jersey) Law 2019 (the Law) on 13 March 2019. The Law takes effect from 1 January 2019.
  • Ogier advises on $889 million acquisition of AIM traded payment services company by way of scheme of

    Ogier has advised Canadian payments technology company Nuvei Corporation on the US$889 million acquisition of AIM traded SafeCharge International Group Limited by means of a Court-sanctioned Guernsey scheme of arrangement.