Cains > Douglas, Isle Of Man > Firm Profile

Cains
FORT ANNE
DOUGLAS
IM1 5PD
Isle Of Man

Isle of Man > Banking, finance and capital markets Tier 1

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

Testimonials

‘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.

Isle of Man > Commercial property Tier 1

The commercial property team at Cains has a strong track record of both advisory and transactional matters; joint department head Alex Poole-Wilson has over 25 years of experience handling property transactions, while his fellow department head Tim Shepherd has in-depth knowledge of real estate financing. They are supported by associates Stephanie Chew, who specialises in complex financing transactions, and Holly McGarrigle.

Practice head(s):

Alex Poole-Wilson; Tim Shepherd

Other key lawyers:

Testimonials

‘They dovetailed with us on a complicated transaction, supporting us on the Isle of Man aspects and taking responsibility for matters that were not initially in their scope. They were sufficiently well connected to also link with the clients’ other professional and administrative advisors/support, which was very helpful indeed.’

‘Stephanie Chew was the main contact and great to work with. She took responsibility for her tasks and was always available. She gave us the help and confidence in the Isle of Man parts of a very messy transaction, with counterparts who were not easy.’

‘Strong commercial skills, deep understanding of litigation issues with an outstanding litigation department. Knowledge of IOM law and IOM litigation assists with commercial contracts.’

‘Alex Poole-Wilson – excellent service including key timescales. Highly knowledgeable.’

Key clients

Habro Properties Limited

Biscayne Limited

Grant Thornton Limited

Newhaven Properties Limited

Manx Telecom Trading Limited

Heron and Brearley Limited

Newhaven Properties Limited

M&Co Trading Limited

Nedbank Private Wealth Limited

Lloyds Bank Corporate Markets plc

Isle of Man Assurance Limited

Four Seasons Healthcare Group

Twickenham Investments Limited

Work highlights

  • Advised Island-based real estate investor Biscayne Limited on the redevelopment of its office building at Heritage Court, Athol Street, Douglas and the lease of the property to KPMG LLC.
  • Advised Danish investor K/S Habro-Isle of Man in relation to the lease of its retail investment property at 32-36 Strand Street, Douglas.
  • Advised Grant Thornton Limited on a development and new lease of premises at Exchange House, Athol Street, Douglas from MOP Holdings Limited.

Isle of Man > Corporate and commercial Tier 1

Cains fields a well regarded team who regularly work on high profile and high value commercial transactions. Tristan Head and Scott Leonard-Morgan jointly lead the practice, and advise on complex matters for both public and private companies operating within the gambling and financial services sectors. The group has significant experience in advising on complex multi-jurisdictional mandates. Stephanie Chew has over 14 years’ experience advising on corporate acquisitions, restructurings and reorganisations. Associates Matthew Wilkinson and Kirsten Porter are both noted; the latter is singled out for her involvement with a number of notable M&A deals.

Practice head(s):

Tristan Head; Scott Leonard-Morgan

Other key lawyers:

Stephanie Chew; Matthew Wilkinson; Kirsten Porter

Testimonials

‘The Cains team is highly responsive and practical. Cains are our go-to across practice areas in the Isle of Man.’

‘Competent and reliable team. Prompt to respond with helpful relevant advice and comments.’

‘Kirsten Porter has excellent client relationship skills and is able to easily and consistently deliver high quality work to her clients in a timely manner.’

‘Cains are a a great firm, and we use them wherever possible to provide Isle of Man corporate advice. They provide swift, commercial led, high quality advice. Their responsive and personable nature means they are very client friendly.’

‘Cains’ corporate and commercial practice has a well experienced and commercially minded team who over-deliver on their client promise. The team is well aware of how their input affects deal completion times and hence they always always work to provide their deliverable ahead of client deadlines, which is something that our clients are very appreciative of.’

‘Stephanie Chew is hard working and conscientious and has great ability to establish professional rapport with clients which makes it easy for her to deliver high quality advice. She is very responsive to requests and her delivery turnaround is unparalleled.’

‘I work mostly with Scott Leonard-Morgan and I find him easy to deal with. He also has good contacts with the IOM governmental bodies to work through issues that may arise.’

‘Tristan Head was the lead on our case and was at all times communitive, approachable and pragmatic. He most certainly leads from the front and his calm demeanour and structured approach is evident throughout the team. Most importantly the relationship feels like a partnership rather than a one-off commercial transaction.’

Key clients

Abu Dhabi Commercial Bank PJSC

AIG Asset Management (Europe) Limited

Allied Irish Banks Plc

AMP Capital Investors

AngloGold Ashanti Holdings plc

ANZ Bank (Vietnam) Limited

Aristorcrat Leisure

Aviva Commercial Finance Limited

Banco BPI SA

Banco Santander, S.A.

Bendura Bank

AIG Asset Management (Europe) Limited

BNP Paribas

Brydg Capital

Cathay Pacific Aircraft Services Limited

Cedar Valley Bank

Cerberus European Investments

Chenavari Financial Group Ltd

Cheyne Capital Management

Clearbell

Comis

Credit Suisse AG

Danske Bank

Downtown Music Holdings Limited

Emirates NBD Bank PJSC

Eros International Plc

Europe Arab Bank plc

Exillion Energy PLC

Falco Capital Partners

First Names Group Limited

Flutter Entertainment PLC

Four Seasons Health Care

Grafton Group PlC

Heron and Brearley

Hoi Hup Realty

JTC Group Holdings Limited

Kings Park Limited

KPMG Audit LLC

Lamprell plc

Levine Leichtman Capital Partners

London Serviced Offices 3 Limited

Macquarie

Manx Telecom

Melford Capital

Myers Business Trust

National Bank of Kuwait (International) plc

Nedbank Private Wealth Limited

Nomura International plc

Norwegian Cruise Line

Nua Healthcare Services

Office Space in Town

QIB (UK) plc

Republic Financial Holdings Limited

Svenska Handelsbanken AB (publ)

Svenska Petroleum Exploration AB

The Law Debenture Trust Corporation p.l.c.

The Prudential Insurance Company of America trading under the name of PGIM Real Estate Finance

The Stars Group (formerly Poker Stars)

Tullow Oil PLC

Urban Exposure Plc

Work highlights

  • Advised Aristocrat Leisure, the Australian Securities Exchange listed slot-machine maker, on its $3.7bn recommended takeover of Playtech PLC by way of an Isle of Man court approved scheme of merger.
  • Advised international private equity firm Cinven on its agreement to acquire a majority interest in International Financial Group from Vitruvian Partners.
  • Instructed as lead Isle of Man legal advisers to Stonehage Fleming Family & Partners on its multi-jurisdictional acquisition of the Maitland Group from Maitland International Holdings, which included 10 Isle of Man group companies, adding £1bn of assets under management and £15b of assets under administration to Stonehage’s AUM and AUA.

Isle of Man > Dispute resolution Tier 1

Cains is ‘one of the go-to firms in the Isle of Man’ for litigation services and is particularly sought after for advice regarding commercial and corporate disputes, high value and complex contentious insolvency matters, asset tracing, fraud and trust litigation cases. The team, jointly headed by Peter Clucas and ‘stand-outRobert Colquitt, regularly acts for corporates, private equity sponsors, international banks and alternative lenders. ‘Extremely experiencedLindsey Bermingham is a ‘superb lawyer’ specialising in regulatory issues, anti-money laundering and international co-operation. David Doyle and Seth Caine, as well as the corporate and commercial litigation focused Tara Cubbon and Charles Williams, are also noted. Clients laud the ‘great customer service’ and ‘trusted advice’.

Practice head(s):

Peter Clucas; Robert Colquitt

Testimonials

‘Simply a well run organisation with superb attention to detail.’

‘Lindsey Birmingham is extremely experienced in her field and is excellent with clients. A superb lawyer.’

‘As litigators, the team are one of the ‘go to’ firms in the Isle of Man. We have always been confident that we are receiving sound advice and their presentation of advice compared to other firms is exceptional. Billing is prompt on a monthly basis, hourly rates and billing is high but worth every penny.’

‘Robert Colquitt is the advocate who stands out the most. He is a confident litigator and his communications are always to the point and professional. He is certainly the first advocate we turn as he instills confidence in us that we do not experience with other litigators on the Island.’

‘The response times are excellent.’

‘The service has been excellent. Their communication is always on point – providing great customer service by providing trusted advice backed up by external expertise where required.’

Key clients

Credit Suisse

Simon McNally & Another

Heda Airlines Limited

Friends Provident International Limited

Barclays Bank Plc

Work highlights

  • Represented Friends Provident International Limited in defending a multi-claimant claim before Isle of Man High Court.
  • Advised two defendants in connection with hugely complex, longstanding litigation issues, spanning 10 years +, involving multiple jurisdictions.
  • Successfully represented asset holding Manx company (Heda Airlines Limited) in defending contractual dispute involving interpretation and rectification of loan agreement.

Isle of Man > Gambling Tier 1

Cains provides a full service to clients in the gambling sector, ranging from corporate and regulatory matters, structuring and restructuring, debt finance, commercial property, intellectual property, employment, regulatory and data protection. The team can also draw on support from the wider firm's litigation practice for contentious matters. Scott Leonard-Morgan co-chairs the department and is recognised as a prominent lawyer with extensive experience in this sector, and regularly handles complex corporate and commercial transactions involving Isle of Man gambling companies. Meanwhile, co-chair Tristan Head has strong expertise in advising on both local and multi-jurisdictional M&A transactions.  

Practice head(s):

Scott Leonard-Morgan; Tristan Head

Key clients

The Stars Group

Aristocrat Leisure

Flutter Entertainment PLC

Gamesys Grop PLC

Galaxy Gaming Inc

NetEnt AB

Work highlights

  • Advised Aristocrat Leisure, the Australian Securities Exchange listed slot-machine maker, on its $3.7bn recommended takeover of Playtech by way of an Isle of Man court approved scheme of merger.
  • Successfully defended Flutter Entertainment in their lawsuit brought against companies within the Isle of Man PokerStars group by the Commonwealth of Kentucky.
  • Advised Flutter Entertainment on the restructuring of its $3bn USD facility, including the repricing and upsizing of the Group’s Term Loan B facility by $1.5bn, with reference to existing debt facilities provided by, amongst others, Deutsche Bank.

Isle of Man > Insurance and pensions Tier 1

Cains advises on the full spectrum of cross-border insurance and reinsurance matters, ranging from regulatory issues to high-value transactions. The team also has a strong litigation team at hand to deal with controversial matters. Tristan Head is a key contact regarding corporate finance transactional work such as IPOs, captive insurance structuring matters, and public/private bonds. Jonathan Latham is noted for specialising exclusively in insurance law and regulatory matters, including multi-jurisdictional reorganisations. Director Lindsey Bermingham focuses on regulatory and anti-money laundering advice for insurance clients, while Scott Leonard-Morgan deals with insurance transactional matters and regulatory work.

Practice head(s):

Tristan Head; Jonathan Leatham; Scott Leonard-Morgan; Lindsey Bermingham

Testimonials

‘The business needed support in an unfamiliar jurisdiction and on work that was outside our remit. Jonathan Latham and Cains were able to support with a detailed note to assist the business navigate the complex legal and regulatory regime.’

‘A team that can provide a full service offering for insurance business.’

‘Jonathan Latham has detailed insurance knowledge. Scott Leonard-Morgan gives sound and practical commercial legal input. Lindsey Bermingham is an expert in schemes of transfer.’

‘I have found Cains to be a firm that responds very well to the questions that I have raised.’

‘Jonathan Latham’s service is excellent. Timely responses and quality work.’

‘I consider Cains to be a top end Isle of Man firm, that always provide quality, credible advice in a manner that leaves you reassured you have reached the best conclusion.’

‘I have primarily worked with Jonathan Latham. Jonathan conducts himself with an exceptional professional manner, is personable and unassuming all supported by reassuring, relevant legal knowledge of our industry.’

Key clients

Cinven

Marco Capital

Work highlights

  • Acted for Cinven in relation to its acquisition of International Financial Group Limited.
  • Acted for Marco Capital on its acquisition of VA Insurance Services Limited from Thomas Cook Group Treasury (in liquidation)

Isle of Man > Shipping and aviation Tier 1

Cains’ team of ‘experts in aviation and marine matters’ advises in relation to aircraft and vessel financing and leasing as well as insolvency, restructuring and security enforcement matters, and represents clients in related litigation. With a background in the shipping industry, Mike Edwards is the firm’s expert on structuring and executing high-value ship finance transactions. ‘Very knowledgableSteven Quayle ‘takes a very close interest in all developments relating to aviation law’ and is experienced in assisting high-net-worth individuals and family offices with the legal issues surrounding the operation of their business aircraft. Clients include financial institutions, alternative lenders, commercial aviation lessors, airlines, cruise lines and shipyards.

Practice head(s):

Mike Edwards; Steven Quayle

Testimonials

‘Steven Quayle – very knowledgeable, always available, a great sounding board and always keen and able to assist the client.’

‘I would consider Cains to be the best law firm in the Isle of Man, hands down.’

‘Steven Quayle takes a very close interest in all developments relating to aviation law and his broad experience with other clients contributes to his knowledge and the quality of the advice given.’

‘By far the best aviation firm in IOM.’

‘Steven Quayle – expert, responsiveness, user friendly.’

‘Experts in aviation and marine matters in the Isle of Man. The “go-to” firm in that jurisdiction. Great to work with and extremely responsive.’

‘Steven Quayle is an expert in his field.’

Key clients

Credit Suisse AG

Jet Aviation

Danish Ship Finance

JP Morgan

NCL Corporation (Norwegian Cruise Line)

Hamburg Commercial Bank

BNP Paribas

Bank of America

Standard Chartered Bank

Investec Asset Finance

Nordea Bank AB

DNB Bank ASA

HSBC Bank PLC

Citibank

Telesat Canada

UniCredit AG

Isle of Man > Employment Tier 2

Cains‘ employment team provides strong advice in relation to both contentious and non-contentious matters. Robert Colquitt  has substantial experience handling contentious employment matters including discrimination and unfair dismissals. The “extremely knowledgeable” Katherine Sheerin  has recently returned to the firm, bringing particular expertise concerning dismissals and restructurings. Associate Kirsten Porter advises clients on matters ranging from dismissals to immigration.

Practice head(s):

Robert Colquitt; Katherine Sheerin

Other key lawyers:

Testimonials

‘Kirsten Porter was prompt in providing thorough and easily comprehensible responses. The work was done within the fee cap agreed at the start of the matter.’

‘Excellent understanding of English law when dealing with multinational clients with a presence on the Isle of Man, proactive and super responsive employment team.’

‘Katherine Sheehan is responsive and very knowledgeable, able to advise on employment related multi-jurisdictional matters at short notice.’

‘Professional and knowledgeable in the employment law area. We have worked with Cains on a couple of sensitive HR matters we have recently required some advice on.’

‘Kirsten Porter and Katherine Sheerin were very helpful, knowledgeable and supportive with the HR issues we sought their advice on. The options and advice we received ensured our matters were addressed and resolved smoothly. We would very much recommend them and work with them again in the future.’

‘Friendly, efficient, pragmatic. They sought advice as needed as the case developed. Followed timescales. Were easy to communicate with by phone letter or email.’

‘Katherine Sheerin and Kirsten Porter were efficient, pragmatic and client-centred. Good listeners.’

Established in 1899 and headquartered in the Isle of Man, Cains is a leading independent offshore law firm at the forefront of maintaining the Isle of Man as a premier international finance centre.

A full-service commercial law firm, the expert team of legal specialists work across various disciplines advising clients from both the Isle of Man and around the globe on banking and finance, corporate and commercial, employment and data protection, litigation, property, regulatory and restructuring and insolvency legal matters.

Proven skills, international industry expertise and in-depth knowledge combine to ensure the team can handle the most demanding, complex and innovative instructions from a broad range of local and international clients including global banks, financial institutions, multi-national enterprises, regulatory bodies, in addition to public and private companies.

Cains has an unbeatable track record of working in partnership with leading global law firms from other jurisdictions to effect international transactions, including market listings and cross-jurisdictional M&A transactions, ensuring a seamless service for all clients.

Principal areas of work
Banking and finance:  Cains’ banking and finance team has a widely acknowledged and long-standing reputation for providing market-leading legal services to international banks, global financial institutions, alternative lenders, aircraft and ship owners and various borrowers. The team regularly advises on complex multi-jurisdictional commercial real estate, acquisition, project and asset finance matters, capital markets including debt issues and securitisations, bilateral and syndicated loans and derivative transactions and sales of performing and non-performing loan portfolios.

Corporate and commercial: Corporate and commercial matters are the foundation of Cains’ legal offering and the specialist team, which is one of the largest in the Isle of Man, is renowned for dealing with the most complex and noteworthy corporate transactions with a particular focus on mergers and acquisitions, corporate restructurings, joint ventures, capital markets and investment funds, for a diverse portfolio of local and international organisations including Fortune 500 companies.

Employment: Cains’ employment specialists provide expert legal advice to clients at every stage of the employment “life cycle” from recruitment, through all aspects of the working relationship, to cessation of employment and post-termination concerns. With close governmental ties the team is regularly instructed to assist clients new to the Isle of Man by providing re-location assistance, including advice on employer registrations and immigration and work permits.

Data protection: Cains’ data protection team represents clients on the full spectrum of contentious and non-contentious data privacy and information rights issues. Familiarity with key Isle of Man sectors and the particular challenges enables our lawyers to provide comprehensive, relevant, and valued insights on topics including GDPR, data governance, record retention, impact assessments and transfers of personal information.

Listing services: Cains Listing Services Limited (CLSL) is a Category 1 and 2 member of The International Stock Exchange (TISE), approved to act as Listing lgent and sponsor in relation to the listing of bonds and equities on the TISE.  Cains’ team offers exceptional levels of corporate listings experience, having advised both domestic and international clients on debt and equity listings across international recognised stock exchanges including the main market of the London Stock Exchange, AIM, NASDAQ, EASDAQ, Frankfurt, NYSE, HKEX, SGX-ST, Dublin, LuxSE, JSE and Warsaw.

Litigation: Cains’ leading litigation department has unrivalled experience representing a broad range of clients across the full spectrum of contentious and non-contentious work and is widely recognised for its expertise in both international and domestic cases, including high-value and complex insolvency, commercial, corporate, asset tracing, fraud and trust litigation cases. The highly skilled team regularly provides financial services and regulatory advice to clients and can assist with white collar prosecution and defence work.

Property: Cains’ property team provides expert and comprehensive legal advice on all aspects of commercial and residential property transactions including property acquisitions and sales, leases, loan structuring deals, commercial real estate restructuring and refinancing arrangements. The team regularly works with UK, Irish and offshore financial institutions, as well as local and international investors, developers, retailers, manufacturers and utility companies.

Regulatory: Cains’ multi-disciplinary regulatory team has experience in advising on the full spectrum of regulatory and compliance matters relevant to businesses operating in or from the Isle of Man, including providing up-to-date guidance and advice on all aspects of financial services regulation including licensing and authorisation, risk management and compliance, anti-money laundering and data protection. The team works alongside government bodies and industry associations to help shape the Isle of Man’s regulatory frameworks and policies.

Restructuring and insolvency: Cains’ restructuring and insolvency team has been extensively involved in both the contentious and non-contentious aspects of the largest and highest profile commercial restructuring and insolvency matters in the Isle of Man.  The team regularly advises on restructurings effected via schemes of arrangement, debt restructurings (including debt for equity swaps), corporate rescues and insolvencies of financial institutions and corporate debtors. Members of the team have particular expertise in working with on-shore law firms and other restructuring and insolvency specialists, to structure and implement recovery and, where necessary enforcement, processes, at times utilising Isle of Man law purpose trusts to hold distressed assets.

DepartmentNameEmailTelephone
(Managing Director) Peter Clucaspeter.clucas@cains.com
Employment and Litigation Robert Colquittrobert.colquitt@cains.com
Banking and Finance Mike Edwardsmike.edwards@cains.com
Corporate and Commercial and Regulatory Tristan Headtristan.head@cains.com
Banking and Finance Tim Shepherdtim.shepherd@cains.com
Property Alex Poole-Wilsonalex.poole-wilson@cains.com
Corporate and Commercial Scott Leonard-Morganscott.leonard-morgan@cains.com
Litigation and Regulatory Lindsey Berminghamlindsey.bermingham@cains.com
Employment Katherine Sheerinkatherine.sheerin@cains.com
PhotoNamePositionProfile
Lindsey Bermingham photo Lindsey BerminghamLindsey is a Director within Cains’ top tier Litigation team and has…
Seth Caine photo Seth CaineSeth Caine is a Senior Consultant within Cains’ litigation department, with particular…
Stephanie Chew photo Stephanie ChewStephanie is a Managing Associate with more than 10 years’ experience advising…
Peter Clucas photo Peter ClucasPeter is a Managing Director and head of Cains’ top tier Litigation…
Robert Colquitt photo Robert ColquittRobert is a Director within Cains’ top tier Litigation team. His practice…
Tara Cubbon photo Tara CubbonTara is a Senior Associate within Cains’ top tier Litigation team. With…
Faye Devlin photo Faye Devlin
David Doyle CBE photo David Doyle CBEDavid is a Consultant within our top tier Litigation team. With a…
Mike Edwards photo Mike EdwardsMike is a Director and head of Cains’ top tier Shipping and…
Catherine Hamill photo Catherine HamillCatherine is a Consultant within Cains’ Corporate, Banking and Commercial departments with…
Tristan Head photo Tristan HeadTristan is a Director and joint head of Cains’ top tier Corporate…
Emily Johnson photo Emily JohnsonEmily is an Associate within our top tier Litigation practice, having joined…
Jonathan Latham photo Jonathan LathamJonathan is joint head of Cains’ top tier Insurance team.  He practiced…
Scott Leonard-Morgan photo Scott Leonard-Morgan  Scott is a Director and joint head of Cains’ top tier…
Kirsten Middleton photo Kirsten MiddletonKirsten is an Associate within Cains’ Corporate and Commercial practice, having joined…
Alex Poole-Wilson photo Alex Poole-WilsonAlex is a Managing Associate and head of Cains’ Property team with…
Steven Quayle photo Steven QuayleSteven is a Director within Cains’ top tier Shipping team and leads…
Katherine Sheerin photo Katherine SheerinKatherine is a Consultant within Cains’ Employment and Data Protection team and has over…
Tim Shepherd photo Tim ShepherdTim is the head of Cains’ top tier Banking and Finance team…
George Walmsley photo George Walmsley
Matthew Wilkinson photo Matthew WilkinsonMatt is an Associate in Cains’ top tier Corporate and Commercial team…
Charles Williams photo Charles WilliamsCharles is an Associate within our top tier Litigation team and since…
Number of directors : 8
Number of other fee-earners : 18
English

Cains acts as legal counsel to the Isle Of Man Treasury on £400 million sustainable note issue.

Lawyers from Cains’ Corporate team have acted for the Isle of Man Treasury alongside global law firm Clifford Chance LLP on the issuance of £400 million 1.625% Notes due 2051, the proceeds of which are intended to be used in accordance with a newly established Isle of Man Sustainable Financing Framework.

Cains Listing Services Limited, which is part of the Cains group, is acting as listing agent for the Isle of Man Treasury in respect of the listing of the Notes on The International Stock Exchange (TISE).

Banco Santander S.A., Barclays Bank PLC and HSBC Bank plc acted as joint lead managers with international law firm Dentons acting as lead counsel to the joint lead managers.

The Notes have been assigned a rating of Aa3 by Moody’s Investors Service Limited.

The Cains team was led by directors Tristan Head and Scott Leonard-Morgan, who worked alongside Clifford Chance LLP, The Isle of Man Treasury team (led by David Catlow, Executive Director, Financial Governance), the team at the Isle of Man Attorney General’s Chambers and the Treasury Minister.

Cains’ Corporate team advises Stonehage Fleming on acquisition of Maitland’s private client business.

Cains’ Corporate and Commercial team advised international multi-family office Stonehage Fleming on its acquisition of the private client services business of Maitland, a privately-owned global advisory, administration and family office firm.

On completion of the transaction, which is subject to regulatory approval in the Isle of Man and other jurisdictions, the business will transfer to Stonehage Fleming, bringing legal, fiduciary, corporate and investment management services capability in nine locations worldwide. The transaction will add £1 billion of assets under management (“AUM”) and £15 billion of assets under administration (“AUA”), taking Stonehage Fleming’s AUM to over £16 billion and AUA to over £60 billion.

Maitland’s Private Client Services business will bring further scale to Stonehage Fleming, strengthen key service areas and broaden the range of jurisdictions offered to clients. It will be combined with and operate under the Stonehage Fleming brand.

Cains’ corporate and commercial team, which was led by Director Scott Leonard-Morgan with support from Associates Matthew Wilkinson and Faye Devlin, acted as lead Isle of Man legal advisors to Stonehage Fleming on all Isle of Man aspects of the acquisition.

Cains’ Corporate team advises on Marco Capital’s acquisition of VA Insurance Services.

 Cains’ Corporate and Commercial team advised Marco Capital on its acquisition of VA Insurance Services Limited, an Isle of Man based captive non-life insurance company, from Thomas Cook Group Treasury Limited, which is in liquidation.

Marco Capital is a Malta-headquartered European property and casualty (P&C) insurance run-off group which launched in Europe’s P&C run-off market in 2020.

The transaction has received regulatory approval from the Isle of Man Financial Services Authority and has now completed.

Cains’ corporate and commercial team, which was led by Scott Leonard-Morgan with support from Catherine Hamill, acted as lead Isle of Man legal advisors to Marco Capital on all Isle of Man aspects of the acquisition.

Cains advises on Tullow Oil’s US$2.4 billion debt refinancing.

Cains acted as Isle of Man legal counsel to Tullow Oil plc, a FTSE 250 independent energy company, on its offering of $1,800,000,000 senior secured notes due 2026 and its $600,000,000 super senior revolving credit facility maturing in December 2024; working alongside leading law firm, Latham & Watkins.

Tullow Oil, a FTSE 250 company, is an independent oil and gas exploration and production company focused on Africa and South America, with interests in over 50 exploration and production licences across 11 countries.

The company will use the proceeds of the notes to repay its existing reserves based lending facility, to redeem its senior notes due 2022 and to repay its convertible bonds due 2021.

Director Tristan Head led the Cains team on the bonds/capital markets aspects of the transaction, with support from Matthew Wilkinson and Holly McGarrigle, and director Steven Quayle led the Cains team on the credit facility aspects of the transaction with support from George Walmsley and Faye Devlin.

Cains acts for Concord on its acquisition of 145,000 owned and co-published music copyrights from Downtown.

Cains’ advises Canaccord Genuity on HPS investment.

 The Corporate and Commercial team from Cains has recently advised longstanding client Canaccord Genuity on the recent investment by HPS Investment Partners LLC (“HPS”), on behalf of investment accounts and funds it manages, into Canaccord Genuity Wealth Group Holdings (Jersey) Limited, the parent company of Canaccord Genuity’s wealth management operating subsidiaries in the UK, the Channel Islands and in the Isle of Man.

Subject to regulatory approval and other customary conditions, HPS will acquire Convertible Preferred Shares in Canaccord Genuity Wealth Group Holdings (Jersey) Limited for an investment amount of £125 million.

HPS is a leading global investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for its clients. HPS has over US$68 billion of assets under management invested in both large and small companies across a variety of industries and sectors.

Cains supports KPMG IOM in the creation of new Crown Dependencies practice.

 Cains supported long-standing client KPMG Isle of Man on the merger with KPMG Channel Islands to form a single practice operating across the Crown Dependencies.

The merger creates a professional services business of 430 people, locally owned and dedicated to serving the key industry sectors across the three islands, to share expertise and knowledge whilst each maintaining their local identity within their respective marketplaces.

The combined practice forms a core part of the KPMG Islands Group, made up of International Financial Centres and Overseas Territories spanning a sub-region which extends from Malta to the Caribbean. This grouping works closely with other KPMG practices in major global financial centres such as London and New York, ensuring that KPMG’s clients can benefit from an optimal blend of local and global expertise from KPMG’s network.

Cains partners Scott Leonard-Morgan and Tristan Head, who head Cains’ Corporate practice, acted as lead counsel to KPMG Isle of Man, advising on all matters of Isle of Man law and regulations in connection with the merger. They worked closely with Carey Olsen’s Jersey team over the last three months to formalise the merger, which took effect from 1st January 2021.

Cains’ Corporate team advises on sale of IOMA Group.

 The Corporate and Commercial team Cains advised on the sale of IOMA Group, the bespoke insurance and pension solution provider headquartered in the Isle of Man, to Wilton Group.

The deal, which is subject to regulatory approval from the Isle of Man Financial Services Authority, will see each of Isle of Man Assurance Limited, IOMA Horizons Limited and Isle of Man Insurance Management Limited being sold.

The IOMA companies are bespoke insurance and pension solution providers that have been at the forefront of the insurance market in the Isle of Man since 1971, currently employing 29 people and managing close to £500 million in assets.

Cains’ corporate and commercial team, which was led by Scott Leonard-Morgan, acted as lead Isle of Man legal advisors, assisting IOMA Group throughout all stages of the transaction, which was mutually agreed in a short timeframe between the parties.