Mr Castino Sands > Lennox Paton > Nassau, Bahamas > Lawyer Profile

Lennox Paton
3 BAYSIDE EXECUTIVE PARK
WEST BAY STREET & BLAKE ROAD, PO BOX N-4875
NASSAU
Bahamas

Work Department

Position

Since joining the Banking and Finance Group at Lennox Paton in 2006, Castino has worked with leading practitioners from around the world on cutting-edge deals.

He has advised a Bahamas-based investment fund that entered into a settlement agreement with the trustee appointed in the winding up of Bernard L. Madoff Investment Securities LLC.

As a part of the settlement agreement, the trustee agreed with the fund having an allowed claim in the Madoff liquidation of more than $1 billion. The allowed claim was assigned to a special purpose vehicle in exchange for shares in the capital of the special purpose vehicle (each share initially represented a notional amount of $1 of allowed claim). The allowed claim was securitized and sold at auction to distressed debt investors.

This transaction was quite unique at the time, as it enabled investors in the fund to monetize their interest in the allowed claim.

Additionally, Castino has acted as local Bahamian counsel to one of the largest banking institutions in Brazil, structuring unique security packages for its financing activities.

He has also advised on some of the more problematic issues of the Bahamian legal and regulatory regime, including the cross-border offering and sale of foreign securities into The Bahamas; and the insolvency regime applicable to investment vehicles domiciled under Bahamian law and structured as limited partnerships and unit trusts.

Memberships

  • The Bahamas Bar Association

Education

Castino gained an AA (Hons) in law and criminal justice from The College of The Bahamas and an LLB (2:1, Hons) from the University of Buckingham in the UK. He returned to The Bahamas for professional training and was awarded a Certificate of Legal Education from the Eugene Dupuch Law School in Nassau, where he graduated as the top overall student in his year.

Lawyer Rankings

Bahamas > Corporate law (including banking, finance and M&A)

(Leading individuals)

Castino Sands  – Lennox Paton

The highly experienced team at Lennox Paton advises on the full spectrum of corporate, commercial and finance mandates spanning cross-border M&A, regulatory matters, fund work, private wealth and trust structure issues, securitisations, data protection work and fintech matters. The group is particularly active in the financial services sector; it recently advised the Central Bank of the Bahamas on the issuance of a digital currency and the related regulatory issues. Michael Paton heads up the practice and Michelle Neville-Clarke  acts as deputy head; Paton is also deputy chairman of the securities commission of The Bahamas and Neville-Clarke acts for a range of local and international clients. Arthur Seligman  leads the firm’s trusts and foundations group and Castino Sands  is a key contact for fund-related mandates. Clients also praise senior associate Dwayne Whylly for his ‘sophisticated advice‘ and senior associate Laura Harris, who focuses on the shipping sector.