Appleby > Cayman Islands, Cayman Islands > Firm Profile

9th Floor
60 Nexus Way Camana Bay
Grand Cayman, KY1-1104
Cayman Islands

Cayman Islands > Banking, finance and capital markets Tier 1

Appleby has a leading role in the market, and is regularly sought by blue-chip underwriters for its expertise in SPACs, CLOs and lender-side fund financing deals. Coordinating between offices in Cayman, Bermuda and Jersey, the group houses a robust team that includes structured finance lead Benjamin Woolf and head of banking and asset finance Caroline Barton, who specialises in aircraft and vessel financing. Simon Raftopoulos leads the local corporate practice and is a member of the corporate finance and private equity teams, and Jacob MacAdam has expertise in regulatory work. Senior associate Tamanna Keir has extensive experience on leveraged financing, securities lending transactions, and cross-border M&A, while Georgina Pullinger is also highly recommended for fund and corporate finance work.

Practice head(s):

Simon Raftopoulos


‘The team was very commercial and good to work with. They understood the complexities of the deal, and what was required from a Cayman perspective.’

‘My go-to firm on a large volume of CLOs and other Cayman-specific work.’

‘Ben Woolf – ALWAYS responsive and gets deals done. Very practical.’

Key clients

Natixis, New York Branch

Bear Mountain Park CLO, Ltd.

Morgan Stanley Eaton Vance CLO 2022-18, Ltd.

Madison Park Funding LV, Ltd.



Guatemala Power Enterprises Ltd.



PNC Bank, National Association

Société Générale


Sumitomo Mitsui Banking Corporation

Royal Bank of Canada

Trane Technologies plc

Various lenders to GTT Communications Inc.

Höegh LNG Ltd

Caribbean Utilities Company, Ltd.

BlueOrchard Impact Investment Managers

Work highlights

  • Acted for Natixis, New York Branch (as lender), in relation to a credit facility with a large US private equity investment company with around $60bn under management and a strategy of business acquisition and enhancement (as borrower).
  • Acted as Cayman counsel to the issuer, Morgan Stanley Eaton Vance CLO 2022-18, Ltd. on a $394.8m CLO issuance transaction.
  • Provided Cayman legal advice to Höegh LNG on a new ten-year $685m loan to refinance the two floating storage and regasification units provided by leading international banks.

Cayman Islands > Real estate Tier 1

Appleby is a leading choice in the market for luxury resort, commercial, residential, infrastructure and financing mandates, regularly advising a diverse roster of clients ranging from large developers and high-net-worth individuals to utility providers, the Cayman government and several major banks. The practice is led by the ‘highly knowledge and very responsiveNorman Klein, who routinely acts for Cayman lending banks, hotel and resort owners, and large property developers. Praised by clients for being an ‘expert problem solver’, Adam Johnson focuses his capabilities on tourism, large-scale development and infrastructure projects. Transactional expert Tim Swallow is noted for his in-depth knowledge of conveyancing matters, developments, leasing work and portfolio management issues.

Practice head(s):

Norman Klein

Other key lawyers:


‘Appleby have a very strong team that have always been able to provide services for a variety of transactions and matters to a very high standard. As a firm, they consistently respond quickly to all requests even those at short notice, which is very much appreciated. All members of staff that I have dealt with are a pleasure to work with.’

‘Norman Klein – Highly knowledge and very responsive and co-ordinates well on which team can assist. Tim Swallow – responsive, very knowledgeable in the industry and can provide pro-active solutions where required.’

‘The Real Estate team are bar none, their knowledge and expertise allows them to work on the most complex transactions. Their responsiveness and amazing client service is unparalleled.’

‘Adam Johnson is by far the best, most knowledgeable and most responsive real estate attorney. He is phenomenal at providing solutions to the most complicated transactions. He is immensely loved and trusted by our team and our clients. Professional, responsible and an expert problem solver.’

‘The Appleby real estate team has the necessary experience, knowledge and commercial acumen to expertly deal with the most complex and novel transactions. The team provides impeccable client service and responsiveness. ‘

‘Adam Johnson – Adam has a wonderful ability to anticipate our needs before we do and deliver exemplary results on all, including the most complex, transactions. He has a strong grasp on the commerciality of any deal, understands our requirements and his in-depth knowledge of Cayman real estate law and practice is unrivalled.’

‘Tim Swallow – Tim is professional, responsive and knowledgeable. He provides excellent client service and is well versed in Cayman real estate law.’

Key clients

Royal Bank of Canada Group

Butterfield Bank Group

FirstCaribbean International Bank (Cayman) Limited

Scotiabank Group

Cayman National Group

Proven Group

NCB Group

Seafire Residences/Seafire Resorts

Beach Bay Land Ltd/Mandarin Oriental Hotel & Resort

Sterling Mortgage Income Fund, Ltd.

Davenport Development

Dhown Homes Development

Dart Group

Aqua Bay Condominium Redevelopment Committee

Barkers Beach/Vida Ocean Adventure Lodge

Foster Group

Lacovia Condominium Redevelopment Committee/Strata Plan


Global Property Investments

The Sands

Harbour Walk

Island Bliss Construction and Development

Boslil Bank (St Lucia)

DMS Properties

Tailwind Capital

Cayman Rugby Football Club

Prosecco Group

First-Mid Bank Ltd.

Work highlights

  • Advised the Lacovia strata corporation with respect to its redevelopment project, comprising almost 100 new condominiums to be developed over 3 buildings on the site of the former Lacovia condominiums.
  • Represented RBC House Limited (the purchaser of) and RBC Royal Bank (Cayman Limited) (the provider of real estate financing for) Royal Bank House, a significant office building in the centre of the capital.
  • Represented the developer on an ongoing basis with respect to the Mandarin Oriental flagged hotel & resort (and residences).

Cayman Islands > Trusts/private client Tier 1

With an extensive network of global offices, Appleby houses a team of seasoned practitioners who regularly advise on both contentious and non-contentious trust matters. Head of the practice Carlos de Serpa Pimentel is noted for his expertise in trust disputes and  contentious estate and probate matters, while Sebastian Said focuses on trust litigation, regularly appearing before the Cayman courts. The team also fields counsel Esmond Brown, who acts on behalf of a broad range of institutional trustees, high-net-worth individuals and other office holders on the establishment and administration of trusts, while also advising BVI-based clients including trustees and beneficiaries of trusts.

Practice head(s):

Carlos de Serpa Pimentel

Other key lawyers:


‘The team at Appleby are well established, stable and respected on the island.’

‘Able, sensible lawyers, and a pleasure to work with.’

‘Carlos de Serpa Pimentel – very experienced, always remains calm and measured; a reassuring presence for clients. Esmond Brown – sensible and thoughtful.’

‘Esmond Brown is knowledgeable, pragmatic and personable and a pleasure to work with. Carlos de Serpa Pimentel has many years experience advising families and trustees which becomes apparent on each and every matter.’

Key clients

Cayman Islands Chamber of Commerce Pension Trustees

Constellation Group Restructuring

Work highlights

  • Advised the Cayman Islands Chamber of Commerce as trustee of the Chamber’s Pension Plan for all employee’s resident in the Cayman Islands.
  • Advised Constellation Group Restructuring on the establishment of a Cayman STAR Trust, which was to hold certain interests and benefits pending satisfaction of certain conditions and obligations as part of the restructuring.

Cayman Islands > Dispute resolution Tier 2

Appleby‘s ‘outstanding disputes practice’ represents clients in large and high-profile disputes in Cayman, including equitable winding proceedings involving Cayman hedge funds and companies, and serious allegations of fraud and conspiracy. The dispute resolution practice is jointly led by Sebastian Said, a ‘standout’ player in international commercial litigation; and Tony Heaver-Wren, who is noted for his expertise in contentious insolvencies and restructurings involving digital assets, and for handling appraisal claim proceedings on behalf of dissenting shareholders. Ulrich Payne is sought out by investment banks, financial institutions and international corporate groups for his success in managing cross-border high-value asset recovery efforts, insolvency proceedings, and multi-billion-dollar international arbitration proceedings, while David Lee handles big-ticket winding up proceedings in relation to investment funds. Head of the merger disputes practice Andrew Jackson is a specialist in appraisal actions, and counsel David Lewis-Hall is also recommended. Peter McMaster KC retired.

Practice head(s):

Tony Heaver-Wren; Sebastian Said


‘Appleby offers an outstanding litigation service in the Cayman Islands. It has a strong team culture, with all members being highly committed and detail-oriented. This has led to Appleby building an extremely successful practice, which is now increasingly prominent in major Cayman litigation.’

‘Tony Heaver-Wren has been assisting us on litigation – he is attentive, dedicates an appropriate amount of time working on the matter and is a good communicator when trying to work through discrete/nuanced issues.’

‘The stand-out partner is Sebastian Said. He is a former barrister in London, with truly outstanding technical skills and an unmatched work ethic. He is also a fluent and persuasive advocate. Sebastian is destined to be one of the stars of litigation in the Cayman Islands and wider region for many years to come. Tony Heaver-Wren is another strong partner, who has excellent commercial nous.’

‘The Dispute Resolution Practice at Appleby has excellent knowledge of the financial services industry which is very commercial and practical. The Team has significant depth in terms of subject matter expertise. The Team is diverse, collegiate and professional.’

‘David Lee has provided an innovative solution to a barrier to bringing a suit that has been successful in enabling the litigation to be brought. David Lewis Hall brings a practical and thoughtful approach to managing the relationships between diverse parties.’

‘We have worked extensively with David Lee and David Lewis-Hall, both of whom are outstanding lawyers and excellent team players. We have worked on an exceptionally challenging case and they have always been good humoured.’

‘David Lee has mastered complex facts and applied innovative strategies to achieve the right outcome. The other standout member of the team is David Lewis-Hall.’

‘An outstanding disputes practice. Attention to detail, availability and going the extra mile for the client are second to none.’

Key clients

China National Building Material Co Ltd

Cayman Shores Development Ltd and Palm Sunshine Ltd

Ennismore Fund Management Ltd.

The Joint Official Liquidators of Global Fidelity Bank

The Liquidation Committee of Direct Lending Income Feeder Fund

The Joint Official Liquidators of AquaPoint LP

Shinsun Holdings (Group) Co., Ltd.

Maso Capital Partners

Cayman Islands > Corporate and commercial Tier 3

Spearheaded by corporate finance and PE specialist Simon Raftopoulos, Appleby‘s team routinely advises a deep roster of blue-chip underwriters, banks and other financial institutions on SPACs, CLOs, M&A, corporate finance mandates and restructurings. The team includes corporate finance and regulatory expert Jacob MacAdam, and group head of both the banking and asset finance, and transport and logistics teams Caroline Barton, who regularly advises on capital markets, corporate, aircraft and shipping matters. Global co-head of the SPACs group Dean Bennett and head of the structured finance practice Benjamin Woolf are also noted for their expertise.

Practice head(s):

Simon Raftopoulos


‘Quality is competitive but the people are what swings it.’

‘Jacob MacAdam – He’s just who you want by your side. Solid and dependable, straightforward to deal with and a good sense of humour.’

Key clients

Wejo Group Limited

Lifezone Metals

Black Spade Acquisition Co


LumiraDX Limited



Pegasus Digital Mobility Acquisition Corp.

SMBC Aviation Capital Limited

Foster Group Holdings Limited

Illumina, Inc.

MaxLinear Inc.

Höegh LNG Ltd

BlueOrchard Impact Investment Managers

Work highlights

  • Acted as BVI and Cayman legal counsel to BPEA (formerly The Baring Private Equity Asia) in connection with the acquisition of the Tricor Group.
  • Acted as Cayman counsel to SMBC Aviation Capital Limited in relation to its acquisition of certain business, assets and subsidiaries of Goshawk Aviation Limited, which involves various Cayman exempted companies and orphan entities as issuers of equity certificates.
  • Acted as Cayman counsel to Black Spade Acquisition Co, a special purpose acquisition company, on its announced de-SPAC business combination with VinFast Auto Pte. Ltd.

Cayman Islands > Insurance/reinsurance Tier 3

Appleby‘s insurance team is based in key offshore jurisdictions in the global (re)insurance market and is well equipped to provide comprehensive advice on a mix of corporate, financing and regulatory matters. The insurance team is jointly led by Simon Raftopoulos and Jacob MacAdam, whose practice encompasses advising on insurance transactions and regulatory matters particularly in the reinsurance, banking and fiduciary space. Menelik Miller is sought out by insurers, reinsurers, investment companies and fintech clients for her expertise in regulatory issues including license applications, registrations, authorisations, notifications and regulatory filings, areas in which Miriam Smyth is also notably active.

Practice head(s):

Simon Raftopoulos; Jacob MacAdam


‘Very responsive team, always willing to help and offer assistance. Jacob McAdam is our trusted adviser. The team can also draw in subject matter specialists from their Regulatory/Capital teams when needed.’

‘Very easy to work with and pleasant demeanour. Very supportive and have been with us from the outset.’

Key clients

TxEx Energy Investments, LLC

Brookfield Asset Management

Brickell PC Insurance Holdings LLC

Work highlights

  • Advised TxEx Energy Investments, LLC on incorporating its own insurance captive in the Cayman Islands, InsureMeCo (SPC) Ltd, for the purpose of a captive risk financing mechanism for portions of its insurance program with Medical Stop Loss coverage being the primary focus.
  • Acted as Cayman counsel to Brookfield Asset Management in connection with the incorporation of a Cayman Islands exempted company as a regulated reinsurance vehicle.
  • Provided regulatory advice in connection with a change of control application with the Cayman Islands Monetary Authority.

Cayman Islands > Regulatory and compliance Tier 3

Appleby’s regulatory and compliance team is sought out by global financial institutions and technology companies for its data protection and cybersecurity expertise. The practice fields privacy and data protection specialist Peter Colegate, local corporate practice head Simon Raftopoulos, and Jacob MacAdam, who is noted for his regulatory expertise in the banking, insurance and fiduciary spaces. Practice head Menelik Miller and Miriam Smyth are regularly instructed by banks, insurers, investment companies, alternative lenders and fintech clients for advice on a wide range of regulatory issues.

Practice head(s):

Menelik Miller


‘The Appleby team is a leader in funds and Web 3/digital asset space in the Cayman Islands.’

‘Peter Colegate – Peter is an intelligent and conscientious attorney, whose approach to advising clients is thorough, thoughtful and consistent. Peter takes the time to understand each client and their often unique and novel approaches to new technology and business concepts and provides tailored advice and practical approaches to suit.’

Key clients

Baring Private Equity Asia Group

CME Group Inc

Kasikornbank Public Company Limited

Brickell PC Insurance Holdings LLC

The Proprietors, Strata Plan No. 22: Beachcomber

Brookfield Asset Management

Work highlights

  • Advised The Proprietors, Strata Plan No. 22: Beachcomber on obtaining a judgment of the Grand Court of the Cayman Islands for the Strata Corporation of the prestigious Beachcomber Resort on Seven Mile Beach, which confirmed that certain information sought by one of the resort’s proprietors was personal data within the meaning of the Data Protection Act (DPA) and therefore all of the provisions of the DPA apply.
  • Advised Brickell PC Insurance Holdings LLC on a regulatory insurance matter.
  • Acted as Cayman legal counsel on a regulatory compliance project being carried out by a leading Canadian financial institution for certain of its Cayman based entities contained within that group.

Cayman Islands > Investment funds Tier 4

Operating as a ‘cohesive unit‘, the investment funds team at Appleby has worked closely with the technology department to carve out a niche for itself in the digital assets space, making the firm a go-to adviser for the establishment of funds investing in cryptographic assets, and the creation of tokenised funds. Sailaja Alla heads up the practice Christian Victory departed to HSM in 2023.

Practice head(s):

Sailaja Alla


‘We’ve been working with the Appleby’s team for several years and they have performed well. They have functioned as a cohesive unit – performing services at the appropriate levels of experience based on the complexity of the task.’

‘Sailaja Alla is our principal point of contact and we are extremely pleased with her down-to-earth and approachable manner as well as responsiveness and attention to detail.’

‘Good listeners to issues and problems and willing to work commercially with clients to achieve goals.’

Key clients

J-STAR Co., Ltd.

Karate Combat

Negev Capital Investments Limited

Work highlights

  • Advising J-STAR on the No.5 Series Funds, five private equity fund structures specialising in leveraged buyouts of privately held or publicly traded companies, or divisions of larger companies; recapitalisations of family-owned or closely held companies; balance sheet restructurings; acquisition financings; and growth capital.
  • Advised Karate Combat on its launch of a decentralised autonomous organisation.
  • Advised on the establishment of Negev Capital Fund One which will invest in companies of all stages, including public companies, primarily engaged in the biotech sector.

The firm: Appleby is a leading offshore law firm. The team of legal specialists advise global public and private companies, financial institutions and private individuals. Appleby is regularly recognised for its integrity and excellent client service, these are the values the firm prides itself on and are at the very core of its business.

Appleby’s global presence allows it to provide timely and comprehensive legal advice at the times that matter most to clients. Appleby is located in the key offshore jurisdictions of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Isle of Man, Jersey, Mauritius, and the Seychelles, as well as the international financial centres of Hong Kong and Shanghai. Appleby works with clients to achieve practical solutions whether in a single location or across multiple jurisdictions. Appleby is a full service law firm providing expert advice across corporate, dispute resolution, property, regulatory and private client and trusts practice areas.

Principal areas of work

Corporate Finance
We have a well-established and thriving Corporate Finance practice, and we regularly advise on high profile Cayman transactions, globally. We provide a full spectrum of services; advising on acquisition and leveraged financing, loan financing and novel structures – including mergers and acquisitions, public to private deals, corporate finance and restructurings. Our clients include all major banks, public companies, and financial institutions.  Appleby is known for our experience in advising on complicated cross border spin-offs and is increasingly being considered a preeminent advisor to corporate borrowers and issuers.

Mergers and acquisitions: Appleby’s mergers and acquisitions team regularly works with FTSE 100 and Fortune 500 companies around the globe to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions. They actively monitor M&A trends through their half-yearly Offshore-i report and their unique global presence means that they are able to advise clients on complex, cross-border transactions involving the offshore jurisdictions.

Regulatory: Appleby’s regulatory and compliance team is one of the world’s largest offshore, comprised of experts who not only have first-hand knowledge of local regulation, but who have in many cases, helped to shape it. Their team are skilled at putting technical regulatory information and decision-making in a commercial context, and clients know that they can assemble the team to deliver an international service, quickly and seamlessly.

Technology and innovation: Appleby’s multi-disciplinary technology and innovation group comprises experts from each of their ten offices to help businesses meet the new challenges and support clients across a broad range of emerging technologies including blockchain, virtual currencies, ICOs, data protection and financial technologies.

Funds: Appleby’s fund finance team are experts in advising banks and finance providers in the development of sophisticated financing solutions. The team are globally recognized as leaders in the fund finance sector and have advised on a variety of different financing structures involving funds that have ranged from a hundred million to billions of dollars in subscribed investor commitments.

Insolvency and restructuring: Appleby’s insolvency and testructuring team advise directors, institutional lenders, creditors (secured or unsecured), borrowers, or insolvency practitioners in large insolvencies that have offshore or cross-border elements. The team has extensive insolvency and restructuring experience across a wide range of industries, including retail, hospitality and leisure, healthcare, financial services, real estate and manufacturing.

Trust disputes: As family arrangements become more complex, trustees and beneficiaries are frequently being drawn into disputes which lead to court proceedings. Appleby’s talented, experienced and solution driven trust disputes team is committed to delivering the highest possible level of client service and regularly work together across their global locations to provide expert multi-jurisdictional advice.

Employment: Appleby’s specialist employment team provides advice on employment and immigration law to a range of global clients, including banks, financial services businesses, companies and directors, as well as their onshore legal advisers. With close ties to local governments, they are often consulted on, and help to share, new laws brought into force across the jurisdictions in which they operate.

Fraud and asset tracing: Appleby’s fraud and asset tracing team are experts in helping clients to trace and recover assets across international jurisdictions, regardless of where proceedings originate. Their clients include major financial institutions, multinational corporations, government agencies, state-owned corporations and high net worth individuals, who have been defrauded or have received the proceeds of fraud. They also advise directors and officers, and other service providers caught in the fallout of fraudulent activities.

Property: Appleby are a leading provider of property services in Bermuda, the Cayman Islands, Isle of Man and Jersey. Their property team provides expert legal advice on all aspects of commercial and residential property, including sales and purchases, leasing, development and property finance transactions. They are frequently recognised for their experience and excellent client service and are consistently ranked in the top tiers for property work. They regularly work directly with developers, investors, business occupiers, banking institutions and private individuals.

PC&T: Appleby’s private client and trust team provide trust and foundation services to private individuals, families, and fiduciary companies. They advise on all aspects of trust law, including the establishment, administration, restructuring and termination of private, charitable, and commercial trusts and foundations. They act in a personal capacity as Protector, Enforcer and Director (of Private Trust Companies) for a number of discretionary trusts and are frequently instructed by blue-chip trust institutions.

Insurance / Reinsurance
Our specialist insurance & reinsurance team provides market leading advice on the establishment, regulatory compliance and business operations of insurers and (re)insurance companies. Our clients include many of the world’s leading insurers, reinsurers, and insurance brokers.

Department Name Email Telephone
Managing Partner Norman Klein +1 345 814 2050
Local Corporate Practice Group Head Simon Raftopoulos +1 345 814 2748
Corporate Benjamin Woolf + 1 345 814 2006
Corporate Caroline Barton +1 345 814 2056
Corporate Georgina Pullinger +1 345 814 2089
Corporate Jacob MacAdam +1 345 814 2016
Corporate, Funds & Investment Services Sailaja Alla +1 345 814 2054
Corporate, Property Adam Johnson +1 345 814 2983
Corporate, Technology & Innovation Peter Colegate +1 345 814 2745
Dispute Resolution Anthony Heaver-Wren +1 345 814 2732
Dispute Resolution David Lee +1 345 814 2083
Dispute Resolution Sebastian Said +1 345 814 2766
Private Client & Trusts Carlos de Serpa Pimentel +1 345 814 2082
Dispute Resolution Andrew Jackson +1 345 814 2738
Corporate Dean Bennett +1 345 814 2980
Number of partners : 18
Number of other fee-earners : 30
Cayman Finance
Cayman Island Legal Practitioners Association (CILPA)
Insurance Managers Association of Cayman (IMAC)
Fund Finance Association
Women in Fund Finance
Blockchain Association of the Cayman Islands
The Maritime Authority of the Cayman Islands (MACI)
Cayman Islands Reinsurance Companies Association (CIRCA)
Main Contact : Norman Klein, Managing Partner
Other offices : Bermuda
Other offices : BVI
Other offices : Guernsey
Other offices : Isle of Man
Other offices : Jersey
Other offices : Mauritius
Other offices : Seychelles
Other offices : Shanghai
Other offices : Hong Kong