08 March 2018
Carey Olsen (Guernsey) LLP
On 1 March 2018 Carey Olsen's Guernsey office converted from being a traditional unlimited partnership to being a limited liability partnership in accordance with the Limited Liability Partnerships (Guernsey) Law, 2013. As a result, the Guernsey practice of Carey Olsen is now an incorporated entity.
The way in which we deliver our services will be unchanged but whereas formerly each of the Partners in the Guernsey office of Carey Olsen were jointly and severally liable in respect of the practice's liabilities, members of the limited liability partnership will not be so liable. We will continue to use the conventional term "Partner" but that term will mean either a member of the limited liability partnership or a senior employee.
As a matter of law, all property that was vested in Carey Olsen before 1 March 2018 and all interests, rights, privileges and debts relating to the firm have been transferred and vested in the limited liability partnership and all agreements, contracts and other arrangements to which Carey Olsen was a party continue in force on and after 1 March 2018 as if they relate to the limited liability partnership.
Our Terms of Business have been revised as a result of the incorporation of Carey Olsen (Guernsey) LLP and are available here.