Banking, finance and capital markets in Isle Of Man


The sizeable corporate team at Appleby routinely advises high-profile, international clients on a multitude of matters, ranging from capital markets transactions to debt financing. The firm is also adept at providing advice to clients requiring aircraft or ship financing. Practice head Kyle Sutherland also leads the firm’s BVI practice and he and Tom Brook advise a number of large banks and commercial lenders. Eleanor Harding and associate Alexandra Dernie are experts in aviation and real estate financing. The team also includes associates Sophia Howell-Evans, Sophie Corkish and Mary-Louise Buxton. Former practice head Faye Moffett retired.

Practice head(s):

Kyle Sutherland

Other key lawyers:

Tom Brook; Eleanor Harding; Alexandra Dernie; Sophia Howell-Evans; Sophie Corkish; Mary-Louise Buxton


‘Incredibly responsible and knowledgeable.’

‘Tom Brook leads a very capable team… able to advise knowledgeably on all aspects of banking and finance and commercial property queries. All members of that team were responsive and helped make the transaction seamless from a client perspective. Outstanding project management from start to finish of the transaction.’

‘Very responsive and a very safe pair of hands.’

‘Sophie Corkish is excellent and we’re always confident of meeting tight timelines when she’s involved.’

Key clients


BNP Paribas






The Royal Bank of Scotland

The Standard Bank of South Africa

The Blackstone Group International

NEPI Rockcastle Plc

Work highlights

  • Advised the joint lead managers, including among others, HSBC and Santander on the Isle of Man law aspects of a successful £400 million sustainability bond issue by the Isle of Man Treasury.
  • Acted as BVI and Isle of Man counsel to MAS Real Estate on the issuance of €300,000,000 of green bonds guaranteed by MAS Real Estate Inc.  The matter saw €300,000,000 of green bonds issued by Netherlands incorporated MAS Securities B.V. and guaranteed by BVI incorporated and Isle of Man based MAS Real Estate Inc.
  • Advised The Berkeley Group on the Isle of Man and Jersey aspects of its debut issuance of the £400m 10 year green bond with the funds earmarked to deliver energy efficient homes on brownfield regeneration sites under its Green Bond Framework.


Cains' large team advises on a range of issues, from securitisations to capital markets transactions. assisting major domestic and international clients. Team head Tim Shepherd  has expertise in international transactions, having previously worked in Bermuda for three years. Scott Leonard-Morgan and Tristan Head  are adept at handling financing matters, while Mike Edwards and Steven Quayle  can be relied upon in matters pertaining to maritime and aviation financing. Stephanie Chew specialises in financing for real estate.

Practice head(s):

Tim Shepherd

Other key lawyers:

Scott Leonard-Morgan; Tristan Head; Mike Edwards; Steven Quayle; Stephanie Chew; Matthew Wilkinson; Catherine Hamill; Kirsten Porter; George Walmsley; Holly McGarrigle


‘George Walmsley and Tim Shepherd were outstanding in their availability and experience ensuring that any areas that we were uncertain about were fully explained and that any adverse restrictions were negotiated by direct intervention with the bank concerned.’

‘The team I worked with was very responsive and proactive in relation to those items that were within its responsibility during the transaction.’

‘Stephanie Chew has been outstanding on a number of matters. She is engaging, responsive and commercial.’

‘I work mostly with Scott Leonard-Morgan and I find him easy to deal with and displays all of the characteristics mentioned above, plus he has good contacts with the IOM governmental bodies to work through issues that may arise.’

‘We regularly instruct the Cains Banking team. They always exceed expectations on the key pillars of legal services, being highly responsive, keeping to agreed timetables and keeping to agreed fees, as well of course in providing excellent advice which demonstrates their experience and local market knowledge. The partners are closely engaged in all matters.’

‘Tristan Head is really excellent in meeting client’s expectations on all fronts and is our main contact. Tim Shepherd and Scott Leonard-Morgan are also very responsive and provide excellent legal support.’

‘I work with Tim Shepherd and he is outstanding in his service standards. The quality of his advice is always high and he is very quick to respond. He is solution-oriented and provides clear advice on how to proceed.’

‘Catherine Hamill is a pleasure to work with. She is pragmatic, knowledgeable, and is accommodating of short-term requests and queries.’

Work highlights

  • Advised Santander UK plc (together with other lenders) on the impact on their existing financing arrangements with Playtech plc in connection with Playtech’s proposed sale of shares in Finalto Group Limited (formerly known as TradeTech Holding Limited.
  • Acting for longstanding client Flutter Entertainment plc on the restructuring of its existing debt facilities with various syndicates of banks.
  • Cains acted for the Isle of Man Treasury on its ground breaking issue of £400 million 30 year Sterling sustainable bonds. The issue proceeds will be used by the Manx government to invest in a number of national infrastructure projects, including those in the housing, transportation and energy sectors. HSBC worked closely with the Treasury, its English counsel Clifford Chance and Cains to structure the green bonds.   The Cains team was led by directors Tristan Head and Scott Leonard Morgan.   For further details please see practice highlights below.


DQ's team has a wealth of experience in matters ranging from ship financing to property transactions. Department head Andrew Harding specialises in advising banks and lenders with regards to secured financing. He also has a strong understanding of the Isle of Man's financial regulations, having chaired its Wealth & Fund Services Association. Mark Dougherty is well-known for his ship financing experience and also advises clients on major corporate transactions. Donna Matthews also has experience in ship financing and is head of the firm's aviation team. Newly promoted associate director Adam Killip assists clients with matters ranging from mergers and acquisitions to regulatory compliance.

Practice head(s):

Andrew Harding

Other key lawyers:

Mark Dougherty; Donna Matthews; Adam Killip

Key clients

Crédit Agricole Corporate and Investment Bank

Santander Corporate & Commercial Banking

Entain plc

Deutsche Bank Aktiengesellschaft Filiale Deutschlandgeschäft

Norddeutsche Landesbank Girozentrale

Sumitomo Mitsui Trust Bank Limited

HSH Nordbank AG

Societe Generale


Nomura International

Bank of Ireland

Irish Permanent International

TowerBrook Capital Partners


Citibank N.A., London Branch


Credit Suisse

UniCredit Bank AG

Ulster Bank

Union Bancaire Privée, UBP SA

Floreat Group

Dandara Group

Work highlights

  • Sole Isle of Man counsel for Entain Plc; work highlights include advising in connection with a restructuring involving the cancellation of loan notes listed on The International Stock Exchange (TISE), assisting in the name change, acting on their behalf in various transactions in relation to the merger of Ladbrokes and Coral and advising in respect of a recent refinancing.
  • Advising a syndicate of lenders on the Isle of Man aspects of a debt holiday package in respect of a US£500 million loan facility.
  • Advising Crédit Agricole Corporate and Investment Bank and Sumitomo Mitsui Trust Bank in relation to the Sea Bridge Finance Limited joint venture.

Keystone Law

Key names at Keystone Law include Geoff Kermeen , whose is experienced in providing advice to lenders and investors on asset finance transactions. Sally Cranshaw  assists investment funds and high net worth individuals with real estate finance matters. Stephen Rodd , William Margot and Hazel Dawson also come recommended.

Other key lawyers:

Geoff Kermeen; Sally Cranshaw; Stephen Rodd; William Margot; Hazel Dawson


‘Strong Isle of Man team with clear understanding of clients’ needs and requirements. A pleasure to work with.’

‘Sally Cranshaw is excellent and very client focused. Always delivers in addressing matter at hand, often with limited notice.’

‘Good response times and commercial attitude without the stuffy attitude of law practices of old.’

Key clients

Allied Irish Banks

ICG Alternative Investments Limited

GreenOak Real Estate

Investec Bank PLC

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

ING Bank N.V., London Branch

Intermediate Capital Group (ICG)

Clearbell Capital LLP

ARA Venn

IQ-EQ (Isle of Man) Limited

Henley Investments Group


Fundamentum Social Housing REIT

Lloyds Bank PLC

TMF Trustee Limited

ING Bank N.V., London Branch

Plan Group

CMBC International Holdings Limited

Fiduciam Nominees Limited

Far Estate Consortium

Melford Capital Partners LLP

Work highlights

  • Provided Isle of Man transactional assistance in respect of several real estate finance transactions including the amendment and restatement of a £115,000,000 loan facility made available to a group of Isle of Man SPVs in connection with the refinancing of the acquisition and development of several London properties.
  • Provided IoM legal assistance in connection with various transactions including the acquisition of Riverside Retail Park, Northampton for c. £55M and subsequent re-financing.
  • Gave advice and assistance to a Far East consortium in respect of a £255 million loan facility made available by United Overseas Bank in respect of the development of Aspen, Consort Place, a mixed residential led development located adjacent to Canary Wharf.


Simcocks is often engaged by international lenders involved in capital transactions; the firm is also regularly turned to by Magic Circle and prominent Irish firms for matters concerning the Isle of Man. Team leader Alex Spencer  advises lenders and borrowers in finance transactions. David Spencer  specialises in corporate and shipping finance and insurance matters. Irini Newby is an expert in commercial finance and property.

Practice head(s):

Alex Spencer

Other key lawyers:

David Spencer; Irini Newby


‘We use Simcocks on all matters for one of our clients and are always impressed by the responsiveness and commerciality, including their ability to quickly agree documents with their IoM counterparts’

‘Alex Spencer is our go to contact and is prompt and efficient at getting the documents and processes agreed.’

‘Simcocks have supported my business since inception. Although my business model isn’t traditional, their advisers helped to create the model and bespoke company structure. They have created a legal framework for my business that no other law firm could provide.’

‘An excellent and responsive team that gives considered advice and really pushes a transaction to closing. Great at trouble shooting on issues that crop up on deals.’

‘Alex Spencer is excellent, clear minded and highly responsive. He helps to push a deal forward, gives insightful advice and takes a commercial approach without compromising on quality.’