Schemes of arrangement are a vastly flexible mechanism to implement take private transactions and other restructuring in respect of Guernsey companies.
Schemes are, in effect, a legally enforceable arrangement or...more
1/8/2025
/ Acquisitions ,
Companies Law ,
Corporate Restructuring ,
Documentation ,
Enforcement ,
HMRC ,
Island of Guernsey ,
Mergers ,
Private Equity ,
Shareholders ,
Takeovers
BX v T Limited and AX and JX and CX and OX and PX and QX [2024]GRC066 (27 September 2024) -
In a recent supplementary judgment on costs, Lieutenant Bailiff of the Royal Court of Guernsey, Hazel Marshall KC (the "Judge"),...more
We are seeing an increasing number of enquiries from lenders and their advisors in respect of the practicalities of enforcement by receivers of English security granted by overseas entities. Real estate property transactions...more
In England & Wales proceedings are subject to a series of "Pre-Action Protocols" which set out the steps a Court would expect parties to take prior to commencing proceedings. The Pre-Action Conduct and Protocols applies to...more
In our recent article covering litigation privilege and its reach to expert support (available here) we considered whether litigation privilege may be claimed over all the correspondence with a third party expert / a...more
In our recent article (available here) we reported that the Guernsey Financial Services Commission (the "GFSC") had been granted leave to appeal to the Court of Appeal. The GFSC obtained leave to appeal on the basis of a...more
Fraud is on the rise. And as sums defrauded usually disappear, victims search for an alternative source to recover their losses. Unsurprisingly, the search often identifies banks' resources as a potential first call. ...more
10/13/2023
/ Banking Sector ,
British Virgin Islands ,
Cayman Islands ,
Duty of Care ,
Financial Conduct Authority (FCA) ,
Fraud ,
HSBC ,
Investment Firms ,
Liability ,
Misallocation of Funds ,
National Crime Agency (NCA) ,
Offshore Banks ,
UK Supreme Court ,
United Arab Emirates (UAE)
This briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles....more
8/9/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
EU ,
FATCA ,
General Data Protection Regulation (GDPR) ,
IAIS ,
International Monetary Fund ,
International Tax Issues ,
Island of Guernsey ,
Jurisdiction ,
OECD ,
Regulatory Agenda ,
Taxation ,
Telecommunications ,
TIEA ,
Transparency ,
UK
As the use of arbitration as a means of dispute resolution has grown in popularity, there has been a marked increase in the need for arbitral awards to be recognised and enforced in offshore jurisdictions.
The...more
8/8/2023
/ Arbitration ,
Arbitration Agreements ,
Arbitration Awards ,
Bermuda ,
British Virgin Islands ,
Cayman Islands ,
Enforcement ,
Island of Guernsey ,
Jurisdiction ,
Offshore Companies ,
UNCITRAL
In our recent article (available here) we considered the findings of LB Marshall KC in Domaille, Clarke & Hannis (together the "Respondents") and the Guernsey Financial Services Commission (the "Royal Court Judgment"). In the...more
The recent decision of the Royal Court of Guernsey (the "Royal Court") in Domaille, Clarke and Hannis v Guernsey Financial Services Commission (available here) involved an appeal against sanctions imposed by the Guernsey...more
In 2016 Moneyval issued an evaluation report on the Bailiwick of Guernsey. This commented favourably upon the Island's regulatory framework and compliance regime, but also noted the "relatively limited number of cases...more
A recent English law case has highlighted an issue relevant to those involved in Channel Islands-related insolvencies – and particularly to insolvency practitioners ("IPs") who take on appointments as administrators – about...more
With the threat of recession impacting businesses across all areas of economic activity in 2023, anyone involved in structures involving Guernsey companies should be aware of significant reforms to the Island’s insolvency...more
Introduction -
The Judicial Committee of the Privy Council has handed down its long-awaited judgment in the joined cases of Equity Trust (Jersey) Ltd v Halabi and ITG Ltd and others v Fort Trustees Ltd, each focusing on...more
After much anticipation, the UK Supreme Court has handed down its judgment in BTI 2014 LLC v Sequana S.A. [2022] UKSC 25 - and has authoritatively set the baseline for how directors’ duties evolve as regards shareholders and...more