Carey Olsen has the ‘leading banking and finance practice in the Channel Islands‘ according to one client. It is home to a sizeable team in Guernsey that advisers borrowers and lenders on financing provided to Guernsey-domiciled investment funds, as well as handling securities listings on the international stock exchange. The group is also known for cross-border acquisition, asset and real estate financings. Department leader Andrew Boyce is an expert in open- and closed-ended investment funds and the associated credit and structured finance. Annette Alexander is knowledgeable in listings of investment funds and trading companies on the international stock exchange. Tom Carey specialises in permanent capital vehicles, while David Crosland is known for listed funds. Ben Morgan
leads the overall corporate and finance group.
Banking and finance in Guernsey
Carey Olsen
Practice head(s):
Andrew Boyce
Other key lawyers:
Ben Morgan; Annette Alexander; Tom Carey; David Crosland; Vaishali Gupta
Testimonials
‘In my opinion, the leading banking and finance practice in the Channel Islands. I work with them regularly in both Jersey and Guernsey and have had a consistently good experience.’
Key clients
CEIBA Investments Limited
Peel Hunt
States of Guernsey
CESL II (Levered ERISA) Sarl
CESL II (Levered) Sarl
CESL II (Unlevered GBP) Sarl
Stena International S.A.
Coller Investment Management Limited
Essential HoldCo Guernsey Limited and EP MidCo Guernsey Limited
GLI Finance Limited
Iceland Bondco plc
Macquarie Group
Permira
Work highlights
Mourant
The team at Mourant is commended by clients as ‘enormously responsive with prompt turnaround’. The practice spans the gamut of offshore banking and finance work and is most noted for real estate finance, but it is also adept at private equity transactions, and asset finance, where it stands out for aircraft financings. John Rochester is known for advising major financial institutions on the offshore elements of their finance transactions. John Lewis focuses on fund finance, refinancing and restructuring; ‘friendly, responsive, pragmatic‘ Frances Watson provides financial regulatory advice, as well as assisting with restructurings. Alana Gillies Ridout specialises in real estate finance. The team is led by Helen Wyatt .
Practice head(s):
Helen Wyatt
Other key lawyers:
John Rochester; John Lewis; Frances Watson; Alana Gillies Ridout
Testimonials
‘Mourant works really well as a team, especially at partner level. We have built strong relationships with a number of partners across the team including John Rochester.’
‘Enormously responsive, prompt turnaround and very capable. We’ve never had any issues with the quality of work or associates, and have found the team to be very accommodating on things like opinion requests or other deal specifics.’
‘There was a structural issue which was a hangover from a previous transaction, and which John Lewis did not feel worked for the current deal. A less credible partner might have let this slide for fear of losing the instruction, but John stood his ground, clearly articulated the need for resolving the issue, and very much won my confidence.’
‘Frances Watson is friendly, responsive, pragmatic’
‘Responsive and knowledgeable.’
Key clients
Allied Irish Banks plc
Al Rayan Bank plc
Alcentra
Ancala
Bank Julius Baer
Bank of America Merrill Lynch
Bank of Scotland
Barclays
BNP Paribas
Brockton Capital
Brookfield
British Arab Commercial Bank plc
CITI
Deutsche Bank
Deutsche Pfanddbriefbank
DRC UK Whole Loan Fund
East West Bank
EFG Private Bank
European Bank for Reconstruction and Development
FirstRand Bank Limited
Goldman Sachs
Greystar
HSBC Bank plc
ICICI
ICBC
Infrared
Keyhaven Capital Partners Limited
Investec Bank plc
SG Kleinwort Hambros
Lloyds Bank plc
Morgan Stanley
Nationwide Building Society
NatWest
Natixis
NewRiver Retail
Nordea Bank AB
Rabobank
Resource Capital Fund
Rothschild Bank International Limited
RBS
Santander
Work highlights
- Acting as Guernsey legal advisers on matters involving a commercial cruise and shipping company, advising on financing and refinancing.
- Advising one of the largest and most prestigious private equity houses investing in Australian and New Zealand assets in connection with entry into the bridging finance by a Guernsey fund.
Ogier
Ogier fields a team that is able to handle a wide variety of financing transactions, with a specialism in leveraged and high-yield facilities, as well as fund and real estate finance. Other areas of expertise include restructuring and enforcement matters and regulatory issues. The team also stands out for its expertise in Guernsey derivative products, and acts as counsel to ISDA. Department head Christopher Jones has experience in multi-jurisdictional finance transactions; Paul Chanter brings to bear expertise in debt capital markets and structured finance. Marcus Leese is also recommended, and is BVI qualified.
Practice head(s):
Christopher Jones
Other key lawyers:
Paul Chanter; Marcus Leese; Bryon Rees; Michaela Jesson; Jane Hogan
Key clients
HSBC Bank plc
Silicon Valley Bank
Apollo Management International LLP
International Swaps and Derivatives Association
Caledonia Investments plc
Mid Europa
Australia and New Zealand Banking Group
Apax Partners LLP
Metropolitan Life Insurance Company
LaSalle Investment Management
H.I.G. Capital International Advisors
Sumitomo Mitsui Banking Corporation
Alvarez & Marsal Europe LLP
Grandcity Property Limited
Adler Real Estate AG
United Overseas Bank Limited
Topland Vintage Finance Ltd
Hayfin Capital Management LLP
Nordea Bank Abp
Bank of China (Hong Kong) Limited
Appleby
Appleby's banking and finance practice is most noted for its fund finance work, for borrowers and lenders. It has expertise in a variety of co-invest facilities, including net-asset-value structures. On the regulatory front, the group has significant experience in LIBOR transition matters. Guernsey managing group partner Jeremy Berchem is a veteran of the debt finance space, handling bond issuances and their listing on the international stock exchange. Stuart Tyler is instructed on a variety of issues, including fund raisings and financial services regulatory matters.
Practice head(s):
Jeremy Berchem
Other key lawyers:
Stuart Tyler
Testimonials
‘Appleby have a market leading brand and global platform, with deep legal and industry knowledge. They provide local service backed by international quality advice and lawyers.’
‘Led by Jeremy Berchem in Guernsey, Appleby give a uniquely partner led, pragmatic service, where workable practical solutions are key.’
‘My dealings are primarily with Jeremy Berchem in Guernsey but it is worth mentioning that the Appleby team are able to move quickly to find you someone to assist in jurisdictions where they operate.’
‘Jeremy Berchem is incredibly well versed in Guernsey law, able to provide advice on some of the most complex transactions. He is amiable, cost conscious and always a pleasure to deal with, but more importantly his advice and knowledge of Guernsey structures and financing issues are very impressive.’
‘Very experienced in all areas of fund finance in Guernsey’
‘Jeremy Berchem is always available and provides great commercial advice and an efficient service. He is a pleasure to deal with.’
‘Responsiveness, availability at short notice to assist with time critical transactions. Pragmatic approach to issues and resolutions.’
‘Good knowledge of particular client requirements’
‘Jeremy Berchem is incredibly responsive, knowledgeable and exceptionally pragmatic.’
Key clients
Bank Julius Baer
Bank of America Merrill Lynch
Barclays Bank Plc
Deutsche Bank
Goldacre Ventures Limited
HSBC Group
Investec Group
JPMorgan Chase Bank
Lineage Logistics Holdings LLC
Lloyds Banking Group
LondonMetric Property Plc
NatWest Markets Plc
Noé Group
Santander UK plc
Silicon Valley Bank
Société Générale
States of Guernsey
The Royal Bank of Scotland Group
Wells Fargo
Work highlights
- Acting as Guernsey counsel to LondonMetric Property Plc in connection with the strengthening of its debt profile.
- Acting for a Silicon Valley bank in connection with funds finance transactions.
- Advising the private bank division of HSBC Bank plc, Guernsey branch on lending to high net worth individuals and their structures.
Bedell Cristin
The lender-side financial services law practice at Bedell Cristin has particular expertise in real estate finance, but is regularly instructed across the waterfront of banking and finance matters. Kate Ovenden is 'a strong lead', with an active practice involving real estate transactions. Dylan Latimer is also recommended, with experience in the financing aspects of corporate restructurings and subscription line facilities.
Practice head(s):
Kate Ovenden
Other key lawyers:
Dylan Latimer
Testimonials
‘Strength in depth and BC have a good knowledge of their local markets.’
‘Kate Ovenden is a strong lead as managing partner and Dylan Latimer is responsive and good to work with’
Key clients
The Royal Bank of Scotland International Limited
National Westminster Bank plc
Santander UK plc
Antares Capital LP
Barclays Bank plc
The Royal Bank of Scotland plc
Work highlights
- Advised (as lead counsel) The Royal Bank of Scotland International Limited on the financing of the development of a site including Guernsey’s first Premier Inn, followed by a subsequent restructuring, including the sale of part of the site comprising an office building to be occupied by Bank Julius Baer.
- Advised Arrow Global Guernsey Holdings plc and Sherwood Financing plc on the sale of Arrow Global Group plc for £563 million and related financing.
- Advised Arrow Global Guernsey Limited on a “tap” issue of its existing high yield bond, by way of private placement.
Collas Crill
Collas Crill's banking and finance team has developed a reputation for real estate and Islamic finance, although it also maintains a strong fund finance practice, as well as private client and family office lending. The department is led by Wayne Atkinson, who acts for lenders and real estate funds, as well as Guernsey banking institutions. Paul Wilkes , a consultant, is an expert in Guernsey banking regulatory and securities issues. Simon Heggs is also recommended.
Practice head(s):
Wayne Atkinson
Other key lawyers:
Paul Wilkes; Simon Heggs; Ben Le Page; Annabel Bishop
Testimonials
‘The team are very knowledgeable and work as a team. They are responsive and always meet expectations, communicate well and do so at a competitive cost.’
‘Wayne Atkinson has a particularly pragmatic approach backed up by an in depth knowledge and excellent coordination and communication skills.’
‘Great people to work with. They take the time to know our team and our mutual clients. Very helpful that they are able to provide Channel Islands and BVI advice in the London time-zone.’
‘Simon Heggs is our go-to partner for Guernsey law finance transactions and he is a pleasure to work with.’
‘Knowledge in their field, jurisdiction and in Islamic finance generally.’
‘Ben Le Page – I have worked with Ben for a number of years on transactions involving Guernsey elements. Ben is great to work with – he provides concise, easy to understand advice and always works efficiently in order to meet the client’s deadlines. Ben is very knowledgeable in his field and I can highly recommend him to others.’
‘I have worked most closely with the Collas Crill team based in the Guernsey office. I have found them to be very personable and easy to get on with. They understand their market and know what onshore counsel require when we instruct them for transactions with a Guernsey element. Another area that they are good at is identifying potential road blocks or red flags on a transaction that are unique to Guernsey and would not necessarily be picked up by an onshore lawyer.’
‘The person whom I have worked with most closely for the past year is Ben Le Page. I have found Ben to be responsive to emails and has helped to turn around transactions with tight deadlines. One aspect that I have found Ben to be very good at is notifying me early on about any changes to fees and scope. This allows me to then have the necessary conversations with the client at an earlier stage.’
‘Ben Le Page – hands on, proactive and commercial.’
‘Collas Crill resource their work very well. Their relationship-management is strong and are ahead of their competitors in terms of their desire to understand their client and act as a trusted advisor.’
‘Simon Heggs has been exceptional with credit advice. Responsive, approachable and incredibly practical. Our default go-to contact for all credit advice. Wayne Atkinson is a very bright lawyer with good insight on regulatory matters and commercial developments.’
‘Responsiveness on instructions and proactivity in moving matters forward’
‘Simon Heggs is the partner and a steady pair of hands ; Annabel Bishop is the associate who produces high quality work to timescales’
Key clients
The Royal Bank of Scotland International Limited
IP Global Ltd
Riyad Bank (London Branch)
Northern Trust
HSBC UK Bank Plc
Lloyds Bank
ADIB (UK) Ltd
QIB (UK) plc
Rothschild & Co Wealth Management Limited
N. M. Rothschild & Sons Ltd
A.S.K Partners
Barclays Bank plc
Santander UK plc
Channel Islands Property Fund Limited
Al Rayan Bank
Silicon Valley Bank
Investec Bank (Channel Islands) Limited
Work highlights
- Advising the leading real estate finance European Bank in connection with the amendment of facilities totalling £139million involving Guernsey share, bank account and subordinated debt security, to be used to finance significant commercial real estate in the City of London
- Advising the London branch of a leading Islamic bank on a substantial Islamic financing involving 4 master murabaha agreements and convoluted borrower structures.
- Acted as both lead counsel and Guernsey counsel on a secured LMA loan facility to purchase flagship Guernsey real estate.
Ferbrache & Farrell LLP
Ferbrache & Farrell LLP's Guernsey team advises on a range of complex matters for banking and finance clients, and is well-regarded for offering 'a boutique service rather then the usual "large team" approach offered by the bigger Guernsey banking and finance firms'. Recent work has included advising on multimillion-pound funding facilities, secured loans, and refinancing of banking facilities. The 'unflappable' and hugely experienced Gavin Farrell leads the team.
Practice head(s):
Gavin Farrell
Other key lawyers:
Helen McGeoch; Joshua Black
Testimonials
‘Able to work to demanding client timescales (as a offshore law firm) and always responsive.’
‘Gavin Farrell was responsive and quick to assist whenever needed. Clear fee quote provided. Joshua Black handled the matter and was very capable and again quick to respond whenever needed.’
‘Gavin Farrell – very personal and responsive service; clear, practical and timely advice.‘
‘Ferbrache & Farrell is different to other Guernsey firms because it offers a boutique service rather then the usual ‘large team’ approach offered by the bigger Guernsey banking and finance firms.’
‘The team of Gavin Farrell and Helen McGeoch are well placed to anticipate the Guernsey law issues on banking and financing transactions and they ensure that they are dealt with efficiently. The service is calm, collaborative and friendly. The team is very responsive and pricing is very competitive when compared with the team’s larger competitors in the Guernsey market. Gavin Farrell is fun to work with and, as a seasoned practitioner, unflappable.’
‘Gavin Farrell and Helen McGeoch are incredibly smart and capable.’
Key clients
Deutsche Bank AG
Global Net Lease
Hitecvision
Internet Fusion Group
Lakestar
Norvestor
Tenn Capital
White Star Capital
Work highlights
- Advised Tenn Capital Limited in connection with a funding facility of up to £300 million and joint venture partnership with funds advised by Elliott Advisors (UK) Limited and its affiliates.
- Advised Internet Fusion Group Limited in connection with the Guernsey law aspects of its £13.7 million secured loan with Hawkwing plc.
- Acted for a multinational bank on the Guernsey aspects of a £100 million note issuance facility in connection with a billboard lease receivables securitisation.
Walkers
The Walkers banking and finance offering is a single unit across the Channel Islands, with expertise in finance transactions for real estate and funds, Islamic finance, as well as debt capital markets. Jointly leading the team are Zoë Hallam , who specialises in assisting borrowers and lenders with subscription and net-asset-value facilities; and Kim Paiva, who is an expert in shipping and aviation finance. Senior counsel Alex Wickens joined from Collas Crill in October 2021, bringing with him knowledge in real estate finance, and the ability to advise on Shariah-compliant finance structures.
Practice head(s):
Zoë Hallam; Kim Paiva
Other key lawyers:
Alex Wickens
Testimonials
‘Outstanding partner engagement when difficult issues crop up; willing to provide advice in addition to a good standard of commoditised flow work.’
‘They are very pragmatic, commercial and client service focused.’
‘Alex Wickens is very approachable and have been very helpful on recent transactions with their quick delivery and high quality service.’
‘The Walkers team is always very attentive and responsive – they are totally dependable and meet very tight deadlines, always appreciating that their performance is crucial to overall delivery for clients on the wider transaction. Their approach to problem-solving and giving advice is also pragmatic and to the point. The level of consistency and interconnectedness between offices is noticeable and makes the experience of instructing the firm across multiple jurisdictions very efficient.’
‘Zoe Hallam leads a highly competent team. They are knowledgeable, well-organised and very responsive. Overall, the Walkers Guernsey team is very easy to work with, which is crucial when working on complex, time sensitive cross-border transactions.’
‘Very responsive, knowledgeable and commercially driven. And just very nice people to work with.’
‘The banking and finance team at Walkers are very efficient in their work. They turn around transactions in a timely manner whilst having the attention to detail that is required.’
‘Kim Paiva at Walkers has assembled a wonderful team that is approachable yet driven to provide the best service for their clients. Kim in particular has the ability to perform her role as Group Partner yet manage each transaction with the oversight and knowledge required.’
‘Kim Paiva has the humility and ability to view the “bigger picture” to know when a transaction takes a turn into another legal sector, such as Private Wealth, and to consult her colleagues in this area of expertise rather than either ignoring it or muddling through.’
‘Agility and responsiveness. Depth of service but also very aware of the need to be competitive on pricing.’
Key clients
Abu Dhabi Islamic Bank PJSC
AO “Alfa-Bank”
Apex
Barclays Bank plc
Credit Suisse
Deutsche Bank
First Abu Dhabi Bank PJSC
Investec Bank plc
OakNorth Bank plc
Royal Bank of Scotland International
Standard Chartered Bank
Work highlights
- Acted as Guernsey counsel to Raiffeisen Bank International AG in relation to a subscription line facility, to Gresham House British Sustainable Infrastructure Fund II LP.
- Acted as Guernsey counsel to Falko Regional Aircraft Limited (a market leading aircraft operating leasing and asset management company focused on the regional aircraft sector) and related transaction parties on the de-reregistration of four aircraft.
- Advised Abu Dhabi Islamic Bank PJSC in relation to a £7,442,500 commodity murabaha facility to LS Investments Limited (a Guernsey company) in relation to the acquisition of Olympus House in Birmingham, prime commercial real estate leased to a law firm.