Banking and finance in Guernsey

Carey Olsen

Carey Olsen sits on a significant number of the elite global banks' panels, and is also noted for its equally strong borrower practice. Fund finance is a key area of expertise, with Andrew Boyce, corporate and finance practice group head and Ben Morgan, David Crosland, Tom Carey and Annette Alexander having practices that include both borrower and lender workloads, with Morgan active in deals involving UK real estate. Borrower mandates include advising major British and international private equity houses on their fund financing. Among the firm's associate bench, key names include Alexandria du Jardin, with Vaishali Gupta  and Imogen Payne dividing their time between Guernsey and London.

Practice head(s):

Ben Morgan

Testimonials

‘Carey Olsen benefit from a strong, multi-disciplined team which helps set them apart from their local competitors.’

‘Andrew Boyce is very approachable and knowledgeable in his field of expertise.’

Key clients

Blue Diamond

NextEnergy Solar Holdings III Limited and NextEnergy Solar Holdings V Limited

CESL II (Unlevered) Sarl

CESL II (Unlevered USD) Sarl

Royal Bank of Scotland International

Mourant

Mourant 'combines stellar legal advice with a strong commercial mindset' across the finance space. Helen Wyatt, whose practice includes real estate finance and funds lending took over leadership of the team from February 2020 from John Lewis, whose expertise in the banking space includes fund finance mandates, primarily for the banks. Darren Bacon handles some fund finance work alongside a capital markets practice, Frances Watson is notable for borrower-side fund finance and John Rochester covers fund and corporate finance for lenders and borrowers. Regulatory-driven restructuring work for the banks is a particular area of expertise. Alana Gillies is a key senior associate, as is BVI-qualified Cantonese speaker Pui Yee Lai, who brings with her experience in-house and international firms in Singapore. Caroline Chan retired from the partnership in April 2020.

Practice head(s):

Helen Wyatt

Testimonials

‘Frances Watson is responsive and detailed.’

‘Mourant’s banking and finance practice in Guernsey combines stellar legal advice with a strong commercial mindset.  Their advice focuses not just on the ‘what’, but also on the ‘how to’ – they look for pragmatic solutions to problems.  Their advice managed to achieve the fine balance between being comprehensive and precise.  They also take the time and trouble to understand their clients, so that their advice is appropriately tailored to the specifics of each client’s requirements.’

‘Helen Wyatt is an excellent legal operator. Thorough and diligent, you always know you are in safe hands with Helen.  Extremely personable and someone who is a great pleasure to work with.’

‘I would believe that the fact that Mourant Ozannes has many offices in different jurisdictions, which assists them in providing exceptionally good service and open to the possibility to use other Mourant Ozannes office at the same time during cross border transactions The service received from John Rochester was exceptional and always going the extra mile. His legal knowledge is on point and an absolute pleasure to work with. He is no-doubt our ‘go-to-guy’ in Guernsey.’

Key clients

Allied Irish Banks plc

Al Rayan Bank plc

Alcentra

Ancala

Bank Julius Baer

Bank of America Merrill Lynch

Bank of Ireland

Barclays

BNP Paribas

Brockton Capital

Brookfield

Canadian Imperial Bank of Commerce

CITI

Deutsche Bank

Deutsche Pfanddbriefbank

DRC UK Whole Loan Fund

EFG Private Bank

European Bank for Reconstruction and Development

FirstRand Bank Limited

Goldman Sachs

Greystar

HSBC Bank plc

ICICI

ICBC

Infrared

Investec Bank plc

Kleinwort Hambros

Lloyds Bank plc

Morgan Stanley

Nationwide Building Society

NatWest

Natixis

NewRiver Retail

Rabobank

Resource Capital Fund

Rothschild Bank International Limited

Silicon Valley Bank

SocGen

WALKERS

At WALKERS, Kate Storey heads the fund finance side of the practice, with work including bank-side mandates, with counsel Zoe Hallam also active in this area. Sam Shires handles a diverse range of matters including acquisition finance and ship finance, complementing counsel Kim Paiva's asset finance expertise. Corporate and funds specialist group partner Matt Sanders also turns his hand to some prestigious real estate and fund finance deals. The firm has a strong offering in Cayman cross-over work (Hallam having been admitted there), and also attracts work from the Middle East. Adam Pickering is a notable senior associate.

Practice head(s):

Sam Shires; Kate Storey

Testimonials

‘While multi-jurisdictional, Walkers offers what is pretty much a one-stop-shop, in terms of the ability to cover different jurisdictions and with broadly the same efficiency and capability. The different offices do take responsibility for their tasks and, where more than one jurisdiction is involved, they do not “hide behind” the other offices, nor over beauraucratise the process, which can happen.’

‘The excellent knowledge of the Walkers Guernsey banking and finance team on the Guernsey aircraft registry makes this team unique and stand out. No other off-shore firm in Guernsey has this in-depth expertise which is useful on aircraft financings where the plane is registered in Guernsey.’

‘Mark Finlayson, Kim Paiva, Sam Shires and Dan Perkins have been very helpful and professional in their approach. They think ahead and advise on factors which could potentially delay the transaction well in advance to avoid such delays. They are up-to-date on the latest legal position and recent changes. The team hosted a training session for our firm’s Corporate and Real Estate team which was very useful and helped us to understand the offshore elements we typically deal with on deals where we have worked together.’

Key clients

JP Morgan

BNP Paribas

Deutsche Bank

Société Générale

First Rand Bank/FNB

Apex Group

Strawberry Star Real Estate

OakNorth Bank

Rabobank

Investec Bank

Work highlights

  • Advised Apex Group in respect of acquisition finance matters for its acquisition of the Link Asset Services Business.
  • Advised BNP Paribas and Credit Agricole in respect of Guernsey law aspects of a €2bn financing of four new luxury cruise ships.
  • Advised OakNorth Bank in respect of a £20m fund financing for the RAW Mortgage Fund.

Appleby

Fund finance is the predominant area of focus for Appleby's practice, a space in which it primary acts for banks and where it frequently works alongside City and US firms. The practice is also active for banks in corporate finance, and  non-bank lenders in private equity deals . Group partner Jeremy Berchem heads the team, which has added two new partners thanks to the recruitment of Stuart Tyler from Babbé LLP and the promotion of Chet Pohl to group partner. Scottish-qualified associate Nicole Sorbie is also notable.

Practice head(s):

Jeremy Berchem

Other key lawyers:

Stuart Tyler; Chet Pohl; Nicole Scorbie

Testimonials

‘Proactive, pragmatic, innovative, talented and willing to go the extra mile.’

‘They are responsive, deliver on time and don’t make dramas out of crises.  A delight to work with.’

‘They are good at what they do and they are nice people to work with even in stressful situations.’

‘The accessibility and commercialism of the Appleby Guernsey finance team is always impressive. Whether in the office or travelling, they go the extra mile to meet the needs of clients.’

‘Jeremy Berchem and Nicole Sorbie form an impressive duo, with Nicole’s efficiency and responsiveness being notable strengths. Jeremy inspires confidence and is excellent at building and maintaining relationships.’

Key clients

Aareal Bank

Alcentra Ltd

Arab African International Bank

Bank Julius Baer

Bank of America Merrill Lynch

Barclays Group

Basalt Infrastructure Partners

BMO Real Estate Partners

Butterfield Bank Group

Capreon (UK) Limited

Citibank

Credit Suisse

Deutsche Bank

Goldacre Ventures Limited

Goldman Sachs Bank

HSBC Group

Intertrust Group

Investec Group

Lloyds Banking Group

MSD Capital

Noe Group

PraxisIFM Group

Raiffeisen Bank

Royal Bank of Scotland Group

Santander

Silicon Valley Bank

Société Générale

Wells Fargo

Work highlights

  • Advised Lloyds Bank Capital Markets as agent of a three-bank syndicate lending €5bn to a global primary fund.
  • Advised RBS International on lending separate facilities to three different Guernsey funds.
  • Advised HSBC Bank Plc, Guernsey Branch, on term and revolving facilities secured against, inter alia, the fund general partner’s management fee revenues.

Bedell Cristin

At Bedell Cristin, practice head Kate Ovenden handles real estate finance deals concerning trophy assets in London and significant local deals, acting for bank and non-bank lenders, as well as assisting with the financing of private equity deals and some fund finance, primarily around on real estate funds. Dylan Latimer, who is qualified in England, is active in borrower-side work for fund and real estate finance. Ann Halliday is a key counsel, and English-qualified Sukhvinder Chana, who divides his time between Guernsey and London, is a new promotion to managing associate - he works with Ovenden on many of the key deals.

Practice head(s):

Kate Ovenden

Testimonials

‘The quality of advice from Bedells Guernsey is very good. They are responsive, reasonably priced and a pleasure to deal with.’

‘Commercial and pragmatic for the Guernsey law aspects of real estate finance work.’

‘Sukh Chana is our main contact there. He is very responsive and a pleasure to deal with.’

Key clients

The Royal Bank of Scotland International Limited

Barclays Bank plc

Work highlights

  • Advised RBS International on the Jersey and Guernsey elements of Channel Islands Property Fund’s purchase of Royal Bank Place in St Peter Port.

Collas Crill

Collas Crill's 'strong and responsive' banking offering includes Sean Cheong, who counts real estate finance in the UK as a core area of her practice. Wayne Atkinson handles banking elements of British property deals as well as agenda-setting local M&A and complex regulatory work. In addition, Australian-qualified Paul Wilkes has also been involved in corporate finance matters, as well as eight-figure UK fund finance deals. Various matters are cross-border, and in St. Peter Port Michael Morris provides English law property finance expertise. Tristan Ozanne, Alex Wickens and Simon Heggs  are key senior associates.

Testimonials

‘Collas Crill have a very strong and responsive team in Guernsey. The team is good to work with and I find their commercial approach refreshing.’

Work highlights

  • Advised S. Developments on a total restructuring of its finance facilities.
  • Advised Investec Channel Islands on a new suite of finance and security precedents.

Ogier

Ogier handles a broad range of finance work from its Guernsey office, including fund finance deals working alongside respected London firms. Christopher Jones handles the finance elements of cross-border M&A deals and fund finance, with Marcus Leese active in UK real estate finance and deals within the Bailiwick and bank-side funds work. Paul Chanter was elected to the partnership in July 2020, and key names at managing associate level include Oliver Richardson, who joined from the firm's London office, and Richard Doyle, who joined from Collas Crill in Tortola, adding another BVI-qualified lawyer to the firm's bench. New Zealand-qualified Michaela Jesson, a newly-promoted counsel, contributes to the Guernsey team from Auckland.

Practice head(s):

Marcus Leese

Testimonials

‘Reliable and insightful advice in all commercial property transactions.’

Key clients

Abbey National Treasury Services plc

ABC Bank

ABN Amro Bank NV

ABN AMRO (Channel Islands Limited)

Ahli United Bank

Al Rayan Bank

Australia and New Zealand Banking Group

Bank of America Merrill Lynch

Banque Hapoalim (Luxembourg) S.A.

Barclays Bank plc

Berenberg Bank (Schweiz) AG

BNP Paribas

BNY Mellon

Bundesverband Deutscher Banken

Citibank

Credit Suisse AG

DekaBank Deutsche Girozentrale

Deutsche Bank

Erste Bank AG

Expobank

Expobank CZ a.s.

Fifth Third Bank

Goldman Sachs International

HSBC Bank plc

Investec Bank plc

ING

JP Morgan Chase Bank NA

JP Morgan Securities plc

LGIM Commercial Lending Limited

Lloyds Bank plc

Macquarie Bank Limited

Morgan Stanley & Co International plc

National Westminster Bank plc

Natixis

Nomura International plc

Raiffeisen Bank International

Rand Merchant Bank

Royal Bank of Scotland

Royal Bank of Canada

Santander

SG Kleinwort Hambros Bank CI Limited

Standard Chartered Bank

Sberbank of Russia

SIB (Cyprus) Limited

Skanidnaviska Enskilda Banken AB

Societe Generale International Limited

Sumitomo Mitsui Banking Corporation

UBS Limited

Unicredit

Well Fargo Bank, N.A.

Albany Trustee Company Limited

Avion Jet Leasing Lux Sarl

Aztec Group

Barings Real Estate Advisors LLP

Blackrock

BT Capital Partners S.A.

Butterfield Group

Caledonia Investments plc

Canaccord Genuity Wealth Group Holdings (Jersey) Limited

Chenavari Investment Managers

Coller Investment Management

Coller Fund V

Coller Fund VI

Crystal Almond Holdings Limited

Deloitte Real Estate

DRC Capital

Equitix Group

Euro Dinero II Private Limited

First Names Group

FSHC Group Holdings Limited

ICG Longbow

International Capital Market Association (ICMA)

International Swaps and Derivatives Association (ISDA)

International Securities Lending Association (ISLA)

Intertrust

Lutea Trustees Limited

Macquarie Group

Massachusetts Mutual Life Insurance Company

Metropolitan Life Insurance Company

Mid Europa III Management Limited

Mid Europa Fund Management Limited

Muddy Waters Capital

Nordic Trustee

Sanne Group

Shilling Group Limited

Sharksfin Holdings Limited

SNC-Lavalin Group

Trident Trust

Tristan Capital Partners

Urban Exposure Services Limited

William Hill plc

Euro Dinero Private II Limited

CCB Financial Leasing Co., Ltd.

Carter Backer Winter

Sanzen Investments Limited

European Real Estate Senior Debt 3 S.à r.l.

Muddy Waters Capital LLC

Clark Contracts Limited

Silver Heritage Group Limited

Franklin Templeton Investments

Nitra Investments Holdings Limited

Artisan Partners Limited Partnership

Kirsty Warner & Paul Pittman as joint liquidators of KK Investments IC Limited

Salamander Corporate Services SA

Sharksfin Holdings Limited

RWC (Investments) Limited

Tyler Capital Limited

Ferbrache & Farrell LLP

At Ferbrache & Farrell LLP, name partner Gavin Farrell's key areas of practice include fund finance mandates - primarily for asset managers borrowing from major banks. South African-qualified Belinda Hartzenberg is a notable senior associate and Helen McGeoch, formerly a partner at Appleby and in-house at Specsavers, joined in March 2019 as a counsel.

Practice head(s):

Gavin Farrell

Other key lawyers:

Belinda Hartzenberg; Helen McGeoch