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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 the gamut of finance work, often including significant mandates for blue-chip banks. Wendy Benjamin, working alongside the firm’s other offices, advised Barclays on the consolidation of its activities in the three crown dependencies into Barclays Bank plc from Barclays Private Clients International, which necessitated court approval for the Jersey restructuring aspects. As far as facility work is concerned, Benjamin and Andrew Weaver advised JPMorgan Chase on, among others, facilities totalling $3bn (comprising a term loan and a revolving credit facility) to Adient Global Holdings, a car parts company spun off from Johnson Controls. Weaver also advised Wells Fargo as agent for the senior lenders in a £800m refinancing related to the Wembley Park development in London. In the fund financing space, Weaver and senior associate Kevin McQuillan advised Tritax Big Box REIT on a refinancing and on the acquisition financing of several distribution centres in England. James Gaudin advised Aareal Bank on a £114m facility for the acquisition of a majority stake in Bromley Shopping Centre by Alaska Permanent Fund Corporation. Other clients of Gaudin’s include Standard Chartered, which he on a €200m facility made available to a CVC-managed fund, and CQS Investment Management, which he advised on a £23m loan to a litigation funder.

Leading individuals

Wendy Benjamin - Appleby

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Commercial property
Commercial property - ranked: tier 1

Appleby

Appleby is ‘extremely good, attentive, accurate and quick to adjust to changes’. The firm provides ‘fast and accurate legal advice’ on a range of mandates concerning finance, leasing and sales of office, residential and leisure property. Practice head Tim Hart (who attracts praise for his ‘very pleasant and accommodating manner’) advised the owners of the Royal Yacht Hotel on a £27m refinancing facility provided by Starwood Capital Group. Lender-side real estate finance mandates handled by Hart include advising Barclays on a £5.4m loan to APC. John Bisson, who provides ‘first-class service in all areas’, advised Dandara on leasing the Gaspé House building to Royal Bank of Canada. Other office space leasing mandates include Hart’s advice to Zedra, Santander and the Jersey Gambling Commission, the last of which involved Bisson acting for the lessor on the other side of an ethics wall. Bisson and Hart also advised Dandara Group on the purchase of the former Old Court House Hotel site for £3m, a £7m finance facility for its redevelopment, and on the redevelopment itself. Andrew Pim acted behind an ethics wall for Barclays on the financing aspects of that mandate.

Leading individuals

Tim Hart - Appleby

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Corporate and commercial
Corporate and commercial - ranked: tier 2

Appleby

Appleby is ‘a strong firm: very responsive and commercial’ and ‘an absolute pleasure to work with, from the partners to the receptionists’. The firm handles a range of M&A deals. Wendy Benjamin advised Euro Garages on its merger with European Forecourt Retail Group. Andrew Weaver is ‘very responsive and a pleasure to work with’ – he advised Lone Star Funds on its purchase and take-private of Quercus Healthcare Property Unit Trust. PraxisIFM is also a client – Benjamin advised it on the purchase of Ampersand Management, while Weaver invested it on an inward investment from Ravenscroft. The firm also has expertise in real estate deals – James Gaudin advised Ashby Capital on the purchase of 50% stakes in two JPUTs, which own office spaces and healthcare units; he is also advising Janus Capital on its merger with Henderson Group, which will involve a Jersey entity listing on the New York Stock Exchange. In the insurance space, Michael Cushing advised Aviva on the transfer of long-term insurance business from Aviva Annuity UK to Aviva Life and Pensions UK. Associate Chris Smedley ‘takes the time to talk through the issues with the client, and is always willing to help’.

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Dispute resolution
Dispute resolution - ranked: tier 2

Appleby

Appleby attracts praise for its ‘sound knowledge provided in a pragmatic way, and for its excellent level of service’. The firm’s heavyweight caseload often involves the role of local trust structures, often concerning cross-border allegations of fraud. Practice leader Fraser Robertson is noted for his ‘effective courtroom technique, commanding its respect in a measured way with the ability to change styles when needed’. He is representing the Nigerian federal government in Jersey’s first case under the Civil Asset Recovery (International Co-operation) Law, involving money held by a Jersey company with links to former Nigerian president Sani Abacha and his family. Both Robertson and office managing partner Michael Cushing handle significant trust litigation for both trustees and beneficiaries. Counsel Jared Dann (‘very responsive, with a good manner with clients’) acted alongside Robertson for a defendant in a fraud case concerning alleged breaches of fiduciary duty and trust breaches spanning three decades.

Leading individuals

Fraser Robertson - Appleby

Michael Cushing - Appleby

Next generation lawyers

Jared Dann - Appleby

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Investment funds
Investment funds - ranked: tier 3

Appleby

Appleby’s ‘small but very knowledgeable team’ handles a range of fund launches, funds-of-funds, unit trust creations, fund finance facilities and placements on the London Stock Exchange. Andrew Weaver is ‘very easy to deal with – he is prepared to think widely about the features of a deal and challenge assumptions’. His recent work includes advising Tritax Management on the creation of an open-ended unit trust investing in property with initial subscriptions of £115m. James Gaudin advises a number of lenders on fund financing matters and assisted ANZ Bank with a $70m capital call facility extended to a fund managed by ICG. He also acted for Lloyds Bank on a €185m facility to ICG Europe Fund V. On the exchange-traded product front, Gaudin advised ETP Holdings on the sale of interests in ETF sponsor WisdomTree Europe.

Leading individuals

Andrew Weaver - Appleby

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

Appleby

Appleby’s ‘responsive and very approachable’ private client practice is headed by David Dorgan, who is ‘particularly timely in his delivery of advice, and has a keen technical and business acumen, ensuring advice is appropriate and efficient’. His work includes a range of wealth structuring matters, often involving international clients and sometimes involving non-traditional families. Fraser Robertson handles contentious aspects of trusts work. Trust company clients include Equiom Trust, Estera Trust and Kleinwort Hambros.

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Structured finance and securitisation
Structured finance and securitisation - ranked: tier 2

Appleby

Appleby’s James Gaudin and Andrew Weaver handle a range of matters concerning bond and note issuances, and modifications to existing schemes. Weaver advised Citigroup, and other initial purchasers, on the issuance and listing of $900m and €1bn of TISE-listed notes by Adient, the former car interiors business of Johnson Controls. Gaudin advised the bondholder committee of Consolidated Minerals regarding the restructuring and enforcement of security over $400m of notes. Other clients include Bank of America Merrill Lynch, JP Morgan Chase and Concordia International Corporation.

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