Investment funds are an established but continuously growing industry in Guernsey because of the attractiveness of the territory as an offshore jurisdiction and its tax regime.

Mourant Ozannes' leading investment funds team has established the first five new Jersey Private Funds since the new regime came into effect last month.

Investment funds are an established but continuously growing industry in Guernsey because of the attractiveness of the territory as an offshore jurisdiction and its tax regime. Ozannes specialise in the establishment of private equity funds, fund of funds, property/real estate funds and emerging market funds, and have seen an influx of activity over the past few months.

Like trusts, foundations have been with us since mediaeval times. The concept of a trust probably developed when crusaders handed over their estates to friends to administer until they returned from their travels and the practice evolved into a structure recognised by common law jurisdictions.

In a recent review of A Guide to Guernsey’s Trust Law by St John Robilliard the author acknowledged that he had achieved a first – a book review that was not in fact about a book, rather on this occasion a CD ROM. Paid Matthews, a consultant with the firm of Withers LLP, and a Visiting Professor at King’s College, London has described the work as "innovative" and "useful".

Mourant du Feu & Jeune has recently made a successful application on behalf of its client, Mr Gary Kaplan, to secure the discharge of a saisie judiciaire obtained at the United States' behest freezing all his realisable property situate in Jersey.

Enforcement of foreign money judgments is relatively straightforward and will follow one of two procedures, depending upon the country where the original judgment was obtained.

Jersey has become a thriving base for film financing, a trend which look set to grow over the coming months. Studios are financing through the UK in greater numbers and many are choosing to use Jersey limited partnerships within their structures to maximise their UK tax reliefs. This has provided a consistent and profitable source of work for many local corporate service providers, banks and their legal advisers.

Guernsey lawyers from Mourant Ozannes have assisted in advising BlueCrest on the acquisition by its partners of Man Group’s 25.5% stake in the BlueCrest Group for US$633 million.

Although still a common vehicle for joint propertyholding ventures, GPUTs reached a peak of popularity between 2003 and March 2006 because of their exclusion from the application of Stamp Duty Land Tax on UK property transfers.

Mourant Ozannes has advised John Laing Infrastructure Fund Limited on all Guernsey-related aspects of its recent new equity issue, raising £242.3 million through the issue of 218,291,103 new shares pursuant to an open offer, placing and offer for subscription.

The Cayman Islands' Court of Appeal recently heard an appeal on the ability of a fund to suspend redemptions and the payment of redemption moneys.

Law firm Mourant has committed itself to continue to develop in Guernsey following a rebrand and more of a global repositioning.

The conversion involved an upsized placing to raise gross proceeds of US$2.73 billion (excluding an over-allotment option of up to $272 million or 10 per cent. of the placing shares).

Mourant Ozannes in Guernsey has acted as Guernsey legal adviser, together with Lawrence Graham LLP as lead counsel, on the launch of Chenavari Capital Solutions Limited.

One Law only: the New Law replaces both the existing Housing (Jersey) Law 1949 and the Regulation of Undertakings (Jersey) Law 1973.

John Laing Environmental Assets Group Limited (JLEN) has listed on the Main Market of the London Stock Exchange.

The Grand Court of the Cayman Islands has recently considered how to determine the location of the principal liquidation and associated issues of international cooperation in relation to the winding up of hedge funds registered in the Cayman Islands.

In our June 2020 reprise of the Private Capital market, US COVID-19 related deaths had just topped 100,000 and confirmed cases worldwide surpassed 5.6m.

A recent judgment of the Royal Court of Jersey demonstrates its approach to an application to set aside a trust and certain gifts made under it on the grounds of mistake.