Deals and Cases : Practice Area : Trusts and Fiduciary

Trusts and fiduciary cases of recent significance

• Lawyers from Carey Olsen were at the centre of the high profile partial management buyout (MBO) of Bachmann Group, Guernsey’s largest independent fiduciary services business.
• Carey Olsen advised Jersey Trust Company on its acquisition of specialist wealth management firm Caversham Fiduciary Services.
• Carey Olsen acted for Lloyds Banking Group on the Jersey law aspects of the sale its Employee Equity Solutions (EES) business to Computershare for a cash consideration. Given the complex nature of this transaction the firm had to put together a team of lawyers from a number of different practice groups within the firm - corporate, fiduciary, regulatory ,tax and employment. This was a major, if not the major, corporate transaction in the Island in 2009, the target company being a significant employer with a head count of over 400 staff based both in Jersey and in the United Kingdom.
• Advised the management team in the acquisition of Sarnia Yachts Limited, a fiduciary specialising in the marine industry, from Ansbacher.
• Instructed to deal with the Guernsey aspects of the acquisition of American Express banking arm by Standard Chartered and the subsequent restructuring of the Guernsey business.
• Establishment of corporate trusts with a combined value of in excess of £10 billion.
• Acted with Allen & Overy for Barclays on its acquisition of Walbrook Group Limited and generally on the Jersey and Guernsey elements of the transaction.
• Devised a rectification strategy for a substantial estate with cross-border issues involving a defective will and inadvertent foreign intestacy.
• Established trusts to hold over £6 billion in assets for multi-national corporations in corporate restructuring transactions.
• Acted on two restructurings of existing trusts each with a value in excess of £1billion.