Banking and finance in Jersey

Carey Olsen

Carey Olsen's 'responsive, commercial and practical' team is particularly active for banks, and is on the panels of a majority of leading names in the space. Practice head Robin Smith, in addition to dealing with trophy asset deals, regularly advises RBS International, and also handles fund finance work. Kate Andrews has restructuring expertise on top of her activity in the offshore legs of UK real estate finance transactions - an area where Peter German utilises his expertise on trophy London assets and more unusual properties. Below partner level, Fiona Dalton is a key counsel, and David Patterson and Rebecca McQuillan are two key promotions to senior associate, joining the 'excellent' Laura McConnell.

Practice head(s):

Robin Smith

Testimonials

‘They are responsive, commercial and proactive.’

‘A great team – responsive, knowledgeable, commercial, efficient.  Very easy to work with and popular with clients.’

‘Kate Andrews is excellent, she really gets what her role is and gives crisp advice.’

‘Peter German is my go-to partner in Jersey and he has excellent associate support.’

‘Robin Smith is the stand-out Jersey banking and finance lawyer in our opinion and is very much our go-to person.’

‘Fiona Dalton is pragmatic, commercial and very user friendly.’

Key clients

Ad hoc group of bondholders of Vieo B.V.

Royal Bank of Scotland International (Jersey)

Nordea Bank

Work highlights

  • Advised bondholders on the restructuring of bonds issued by Vieo B.V, the holding company of Lebara Group.
  • Acting as counsel for Royal Bank of Scotland International in respect of hundreds of millions of Euro-denominated facilities, both syndicated and non-syndicated, to private equity funds.

Mourant

Mourant has a finance practice that covers a full spectrum of work across types of lending and different participants in the marketplace. Gareth Rigby  and James Hill both handle key real estate work, with Rigby also advising key names in private equity. Mark Chambers is active in fund finance on both the borrower and lender side. Robert Hickling is also active in the fund finance space, including advising some hedge funds, as is Paul Martin. Jon Woolrich has a broad practice financing all matters of assets from securitisations to private equity deals. Simon Gould is a notable name for financial services regulation, as is 2020 partner promotion Sarah Huelin. Iain Millar , James Daniel and Neil McCarroll are key counsels.

Practice head(s):

Gareth Rigby

Testimonials

‘Responsive, technically excellent, commercial and pragmatic, swift turnarounds, value for money, always go above and beyond for my clients. My go to law firm in Jersey and Guernsey.’

‘Paul Martin is an excellent leader, commercial, technically strong, great with clients and always delivers.’

Sam Malpass is technically strong and pragmatic, always helpful and efficient.

Key clients

Greystar Real Estate Partners

HSBC

M&G Investments

Citibank

Goldman Sachs

China Investment Corporation

Wells Fargo Bank

Invesco Real Estate

Metlife

Helaba

Grove Property

M&G Investments

M7 Real Estate Limited

Battersea Project Holding Company Limited

Mimecast Limited

Standard Life Investments

WPP plc

Work highlights

  • Advised Citibank in respect of the £71m refinance of 25 Copthall Avenue, a multi-let mixed use (office and retail) property in the City of London.
  • Advised Nigeria Sovereign Investment Authority on the restructuring of the Seven Energy group.
  • Advising Morgan Stanley in connection with a £406m senior term loan facility and (ii) a £109,000,000 mezzanine term loan facility.

Ogier

At Ogier, Simon Felton and Bruce MacNeil handle bank-side lending to elite private equity names financing both funds and deals. The firm is also active in real estate finance deals as well, many concerning key City of London assets, with MacNeil and Katrina Edge having considerable expertise in this area. Kate McCaffrey is a key managing associate who has worked with MacNeil on agenda-setting deals. Felton heads the practice in Jersey, and Edge heads the firm's pan-European banking practice, which on top of Channel Islands responsibilities includes overseeing the Luxembourg team. In September 2020, counsel Chula O’Donoghue returned from a secondment at HSBC's Crown Dependencies in-house team.

Practice head(s):

Simon Felton; Katrina Edge

Testimonials

‘Strong partner connection with all of the main UK law firms and therefore a deep understanding of the issues involved in real estate finance. It has strong senior female lawyers who get the deal done.’

‘The team are commercial and user-friendly.  They match concise legal advice with a practical approach, at a competitive price. Over the last couple of years we have built a strong relationship with the team and engaged on a string of important transactions.’

‘Katrina Edge knows her market and is willing to step in and find solutions. Great response times.’

‘Simon Felton is a good leader, technically strong and commercial.’

‘Kate McCaffrey is a real rising star. Clearly busy but always makes time for you and turnaround times fantastic – great client service.’

Key clients

HSBC Bank plc

Silicon Valley Bank

MetLife Investment Management

Caledonia Investments plc

Lloyds Banking Group

Wren House Infrastructure Limited

International Oasis Holding Company KSCC

M&G Investment Management Limited

International Swaps and Derivatives Association (ISDA)

Hospital Topco Limited

Adeem Investment & Wealth Management

Hellman & Friedman

Northwood Investors LLC

Moorfield

OZ Management LP

Work highlights

  • Advised MetLife on its refinancing of two Jersey office properties – Gaspé House and JTC House worth a combined total of over £131 million.
  • Acted for Morgan Stanley Senior Secured Funding in relation to a highly complex cross border secured financing in connection with the £2bn acquisition of a 50% stake in Advanced Computer Software Group.
  • Advising a consortium of banks on a dual-currency €775 million-equivalent senior secured notes offering, with the proceeds used to refinance the previously funded bridge loan used to finance the take-private of Oriflame, an international beauty company.

Appleby

Now managing partner of Appleby's 'slick' Jersey office, James Gaudin's workload also includes a range of lender-side fund finance mandates, in which he acts for a number of European and British banks, as well as corporate deals. He and Andrew Weaver are both active in real estate finance deals, acting for borrowers and lenders on deals concerning properties in the UK and Europe. The team is also active in corporate deals, many concerning unique issues on-island. Kevin McQuillan, a senior associate in the team, was sworn in as a Jersey advocate in December 2019, and clients also praise associate Paul Warsnop.

Practice head(s):

Andrew Weaver

Testimonials

‘Able to handle complex transactions, including where local assets other than bank accounts and shares are being secured.  They also offer commercial guidance to clients and don’t let technical issues get in the way of transactions.’

‘I have worked with Appleby Jersey, Guernsey and IOM on a couple of transactions. the team is organised and responsive and it is a pleasure working with them. One thing I benefited from is that because all the offshore offices are connected, they are able to deliver a seamless service which some other firms cannot .Very quick and efficient.  They work very smoothly with the corporate administrators and banks in Jersey.’

‘They’re slick – know exactly what to do and when, and make sure the Jersey side of a transaction runs super smoothly.’

‘James Gaudin and Paul Worsnop have been my Jersey go-to team for the past 4-5 years.  I find them the best on the island in terms of service delivery, specifically on commercial guidance, cost, response times, pre-emptiveness and general communication.’

‘Kevin McQuillan stands out. He always go above and beyond to ensure that the work gets delivered.’

 

Key clients

Ashby Capital LLP

Atrium European Real Estate Limited

Barclays

DekaBank Deutsche Girozentrale

Equitix

HSBC

Lloyds Bank Plc

OakNorth Bank Plc

Phoenix Spree Deutschland

Santander

Standard Chartered Bank

syncreon

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

Work highlights

  • Advised Phoenix Spree Deutschland on its recent EUR 240 million financing with Natixis Pfandbriefbank AG.
  • Advised OakNorth Bank on a £23m loan to LV Care Group, the lender’s first Jersey law financing.
  • Advised JPMorgan Chase on the Jersey law aspects of a new $1.25bn asset-based revolving credit facility to the Adient Group.

Bedell Cristin

The Bedell Cristin banking practice saw some change in September 2019 with Tim Pearce designated as the firm's new global head of banking and corporate and Alasdair Hunter the head of the Jersey banking practice - the same month Richard Le Liard was elected to the partnership and Sara Johns joined from Ogier. Pearce handles locally important deals concerning both real estate and companies present on-island, while Hunter is active on the borrower side for private equity houses advising on the financing of companies and real estate, as well as work for respected banks, contributing BVI expertise. Malcolm Ellis  is a notable senior associate, as is Antony Clerehugh. Mark Dunlop is now the firm's knowledge management partner.

Practice head(s):

Tim Pearce

Testimonials

‘Bedell Cristin’s Jersey banking and finance team provide an outstanding service. They have good expertise in Islamic finance and a fantastic track record in assisting us with finance transactions in the context of Middle Eastern investment into UK real estate.’

‘I have worked with Bedell Cristin’s Jersey office for over 15 years.  Their pricing is sensible and whilst their technical expertise is undoubted they combine it well with a practical and commercial approach.  Most of all they tend to take ownership of a matter even if their role is largely a supporting one on what is primarily a UK transaction and are always quick to respond.’

‘With strong London transaction heavy experience, the Bedells team is well equipped to meet the demands of structurally complex finance transactions running on tight timetables.’

‘Alasdair Hunter and Antony Clerehugh provide invaluable advice and rapid turnaround. Both are commercially minded and ensure that transactions run smoothly.’

‘Tim Pearce is very user friendly and gets things done. A delight to work with.’

‘Mark Dunlop is faultless when you need the cavalry.’

‘Malcolm Ellis guides us efficiently through complex transactions and is a pleasure to work with.’

Key clients

Aareal Bank AG

Aviva Commercial Finance

Bank of America, NA

Barclays Bank Plc

BNP Paribas

CBRE Loan Services Limited

Citigroup Global Markets Limited

Deutsche Bank AG

HSBC Bank plc

Inflexion

Morgan Stanley

National Westminster Bank plc

Santander International

The Royal Bank of Scotland plc

The Royal Bank of Scotland International Limited

Work highlights

  • Advised BNP Paribas on the Jersey law elements of a $1.65bn financing of Ithaca Energy’s purchase of Chevron North Sea Limited.
  • Advised a US investment bank on a £286 million loan origination and subsequent securitisation.
  • Advised the buyer, Inflexion, from both a Jersey and Guernsey perspective, in relation to its acquisition facilities for the acquisition of the Estera Group globally.

Collas Crill

Collas Crill's group partner Mike Williams , who has a track record of BVI work, handles work for mainstream and specialised banks (with Islamic finance a specific area of expertise), covering real estate both on-island and in the UK and fund finance. He was joined by Matthew Gilley, who joined from Ogier in April 2019, bringing with him a practice on the real estate side of the finance offering. Christine Fox is a key counsel in the team.

Practice head(s):

Mike Williams

Other key lawyers:

Matthew Gilley; Christine Fox

Testimonials

‘The team at Collas Crill has the legal skills and experience to advise on all of my Jersey law matters (and indeed BVI law matters – which saves juggling timezones and provides consistency and ease on invoicing mechanics too).  They know us well and how we work so that they are able to anticipate our needs and the support and input required.’

‘I find Collas Crill to be very good to work with. The advice we receive is always accurate and justified and they can be trusted to work on deals efficiently and cognizant of client need. ‘

‘They delivered their product on time, liaised well with their opposite numbers and were fair on their billing.’

‘Mike Williams leads the team. As well as being a cracking lawyer, he is always around to help, extremely reliable and great fun to work with. His team has a strongly supportive ethos which makes them a pleasure to have on our side.’

Key clients

ABC International Bank

Abu Dhabi Investment Bank

Al Rayan Bank plc

Allied Irish Bank

Allied National Bank

Arab National Bank

Bangkok Bank

Bank of East Asia

Bank of Ireland

Bank of London & The Middle East

Bank Julius Baer

British Arab Commercial Bank

Butterfield Bank (Guernsey) Limited

CIMB

Citibank, N.A.

Citco

Clydesdale Bank plc

Credit Agricole

EFG Fund Administration Limited

Equiom Group

Gatehouse Bank plc

Gulf Capital

Habib Bank Zurich plc

Hermes Alternative Investment Management Limited

H.I.G. Europe Capital Partners II L.P.

HSBC

ICG Alternative Investment Limited

ICICI Bank

Industrial and Commercial Bank of China

Intesa SanPaolo

Investec Bank PLC

Kleinwort Hambros

Lloyds Bank

National Westminster Bank PLC

Netinvest

N M Rothschild & Sons Limited

OakNorth Bank PLC

Parklane Group

Qatari Investment Bank UK Plc (QIB)

QIB (UK) plc

Raiffeisenbank

Rothschild

Royal Bank of Canada

Royal Bank of Scotland International

Sancus

Santander

Seaton Place Limited

Shawbrook Bank Limited

State Street Corporation

United Overseas Bank Limited, London Branch

VTB Bank

Wells Fargo

Work highlights

  • Acted for a venture capital fund on borrowing £136m from a commercial lender, with one Jersey company in the structure owned by a charitable trust.
  • Advised a New York-headquartered bank as lead counsel on a $75m facility to a company being subjected to a just and equitable winding-up petition.
  • Advised Bank of London and the Middle East, a specialist Islamic bank, as financiers of the £27m purchase of 1 Waterfront Avenue, Edinburgh.

WALKERS

Covering a full spectrum of finance work, WALKERS is active for both borrowers and lenders across a highly internationalised deal sheet. Nigel Weston has a strong practice in the real estate finance space among other heavyweight deals, and in particular is well connected in the Middle East. Alexandra Corner is active in fund and real estate finance. While part of the corporate practice Jonathan Heaney also continues to be involved in the Battersea Power Station project. Christophe Kalinauckas is a key senior counsel, with three more appointments at that level coming in the form of Jon Le Rossignol and Louise Hamilton from Mourant, and Tristan Maultby from Carey Olsen.

Practice head(s):

Alexandra Corner

Testimonials

‘Julia Keppe is personable and technically excellent – she has a good understanding of clients’ businesses, strong client care skills, commercial awareness and lots of experience.’

Key clients

ING

Trident Energy

VSK Holdings

VR Global

Syon Securities

CGL Gaming PLC

Apex Group Ltd

Arzan Financial Group

Work highlights

  • Advised the lenders on corporate and banking matters relating to the Battersea redevelopment project.
  • Advised ING on the Jersey law elements of the five-year $1.1 billion sustainability-linked facility for Rusal.

Maples Group

At Maples Group, Paul Burton and Chris Byrne handle primarily lender-side work involving cross-border businesses, with a number of key deals of late involving the financing of companies in the natural resources space. In addition, Burton also handles a number of fund finance mandates, while Simon Hopwood handles some real estate finance transactions. Matthew Swan, former managing partner of Ogier, joined as a consultant in August 2019, and associate John Burns joined from Dickinson Gleeson in March 2020, joining a well-regarded associate bench that includes Amy Black and Anna Cochrane.

Practice head(s):

Chris Byrne; Paul Burton

Testimonials

‘Maples have a real can-do attitude. They are always willing to muck in to resolve problems at very short notice. They give confident on-the-spot advice, and are always there at the end of the phone if I have a one-off query, even where they are not otherwise involved in the transaction.  They are willing to be practical and commercial on transactions and take the time to understand the client’s issues.’

‘Anna Cochrane has provided assistance on a range of topics on a timely basis and to a very high standard.’

Voisin Law

Voisin Law's practice is particularly well versed in Islamic finance, with the practice active for a number of Middle Eastern and challenger banks, as well as borrowers. Kate Anderson handles trophy deals concerning real estate in London and internationally, primarily for borrowers but also for non-bank lenders, with a number of instructions in the hotel sector. Ian Strang is also active for some local lending work, and Daniel Walker is a key senior associate and is leading on significant mandates in the real estate space. Clients also praise advocate Chris Le Quesne.

Practice head(s):

Kate Anderson

Testimonials

‘They are pro-active, commercial and willing to go the extra mile to get the job done. We would not use any other advisory in this jurisdiction. First rate!’

‘Very available and very bright. Strong team and excellent partners.’

‘What makes Voisin unique is that when you enter into an engagement with their firm, they not only view you as the client but also your immediate client as their client too.  With this mindset, they always ensure that work is done to the highest standard and that it is in the best interest of the client (engaged) and overlying client.’

‘Kate Anderson is always available and no problem is too difficult. Always finds a solution.’

‘Daniel Walker has been of particular assistance on financing transactions, responsive to inquiries and helpful in resolving urgent issues for the client.’

Key clients

Maslow Capital

U and I Group PLC

Work highlights

  • Advised U and I Group on the financing of its £66m purchase of leasehold property in London.

Ward Yates

Ward Yates's Nick Ward and Elaine Kelly have experience of advising borrowers on real estate finance work. Ward has a track record of providing BVI law advice, as well as Islamic finance.

Edward Scott and Co

At Edward Scott and Co, which span out of Dickinson Gleeson in September 2020, Edward Scott handles a mixture of work including prestige real estate finance work (an area in which he is particularly connected in the hotel industry), as well as more esoteric matters including complex fund finance structures and a particular specialism in art finance.

Practice head(s):

Edward Scott

Pinel Advocates

At boutique firm Pinel Advocates, Andrew Pinel and group partner David Yetman, in addition to handling a range of property finance matters, have particular expertise in regulatory issues - in this space counsel James Mews contributes in-house experience from the JFSC.

Practice head(s):

Andrew Pinel

Other key lawyers:

David Yetman; James Mews

Key clients

Santander

Metro Bank

BNP Paribas

Jersey Deposit Compensation Scheme

Work highlights

  • Advised NatWest on a £22m facility lent to a Jersey limited partnership.
  • Advising a property development group on a £65m refinancing of its structure.
  • Advised a number of banks on regulatory matters including client assets, security interests, ring-fencing and data protection.

Viberts

At Viberts Jersey Lawyers, Paul Wilson handles borrower and lender-side work for Jersey trading companies, with borrower-side London real estate finance deals a staple for the firm alongside some work for challenger banks. Christopher Scholefield's workload includes advising trustees on finance matters, and James Lawrence has on-island real estate finance expertise.

Practice head(s):

Paul Wilson

Key clients

Baldrick Investments Limited

Dunningham Investments Limited

MTWO Limited

C Le Masurier Limited

SRM Accountancy

Lloyds Bank

Formidable Holdings Limited

Longulf Trading (UK) Limited

Bharti Global Limited

Tradagames (Jersey) Limited

NBP Holdings Limited

Maplewood Financial Corporation Limited

Southern Developments Limited

Oak Trustees (Jersey) Limited

Financial Consultants (Jersey) Limited acting in its capacity as trustee of the Saffron Purpose Trust

Clove Holdings Limited

Zara Holdings Limited

HRE Investments Limited Sp Zoo Spolka

Cynergy Bank Limited

Sovereign Court Limited

Ovington Court Limited

Site 5 Pennington Street Limited

Tobacco Dock Limited

Kalvec Limited

MT Rooms Limited

Work highlights

  • Advised Dunningham Investments Limited on refinancing its investment in Jersey Choice Limited.
  • Advised MTWO Limited on a proposed investment in a Jersey-based cloud computing company.
  • Advised C Le Masurier Limited on a proposed transaction relating to real estate in the United Kingdom.