Carey Olsen advises Paratus Energy Services on the issuance of a US$500 million senior secured bond This transaction marks one of the largest bond issuances in the Nordic bond market in recent years and was significantly oversubscribed, reflecting robust investor confidence and strong market demand ...
Carey Olsen assists DeFinity Markets in securing JFSC approval for digital assets settlement platform The Jersey subsidiary of the London-based DeFinity Markets group has been operational in the spot foreign exchange market since 2014 and is connected to some of the world’s most prominent banks. The challenger-model will see investment-grade buy and sell-side clients transact with each other using bank-intermediated credit via the prime brokerage desk ...
Carey Olsen advises on groundbreaking private catastrophe bond The bond was issued from the Randolph Re cell of Aon's White Rock Insurance Company PCC Limited – the first time a catastrophe bond has been issued out of a Guernsey vehicle. Previous Randolph Re catastrophe bonds were all issued out of Aon's Bermuda cell company, White Rock Insurance (SAC) Ltd. structure, making this a first for Guernsey and one of only a few cat bonds issued in this jurisdiction ...
Carey Olsen announces 2024 Bermuda Scholarship Scheme recipient The scholarship was established four years ago to provide exceptional Bermudian law students with the opportunity to obtain a Commonwealth qualification overseas, before returning home to join the Bermuda Bar ...
Carey Olsen advises Admiral Acquisition on US$1.85 billion acquisition of ASP Acuren Holdings Carey Olsen partner Andrew Boyce, senior associate James Cooke and associate Claire Cooke advised on the British Virgin Islands aspects of the transaction. Acuren provides technology-driven solutions to protect assets in the energy, industrial, and utility industries ...
Carey Olsen advises on the FSN Capital Confluence €588 million continuation fund FSN Capital Confluence acquired Nordlo, a leading Nordic managed IT service provider, and Saferoad, a European leader in road safety and infrastructure solutions, both previously part of the FSN Capital V portfolio. The acquisitions aim to accelerate organic growth and pursue strategic M&A opportunities ...
Carey Olsen advises on the establishment of a new corporate structure to domicile Ferguson in the US by way of a Jersey merger As a result of the merger which took place on 1 August 2024, Ferguson, which has a market capitalisation of over £30 billion, has completed its transition to establish a new corporate structure and ultimate parent company domiciled in the United States ...
Carey Olsen advises NIP Group Inc. on its IPO on Nasdaq, supporting the first esport stock from China The company successfully listed on Nasdaq Global Market in New York on 26 July 2024 and the price in the offering was US$9.00 per American depositary share, with a total market value of the company of approximately US$ 500 million. Carey Olsen partner Anthony McKenzie and counsels Susan McKinstray and Maggie Yan advised NIP Group Inc ...
Citizens' Advice Guernsey to hold black-tie gala, sponsored by Carey Olsen Friends of Citizens' Advice – an extension of Citizens' Advice Guernsey established to raise funds for the charity – will host the black-tie event, which will include a three-course meal and live music, followed by a raffle and an auction ...
Shipping and Bermuda’s Corporate Income Tax Act The initial taxing determination You have determined that you have a shipping entity within a “Bermuda Constituent Entity Group”, which itself is within an “In Scope MNE Group” for the purposes of the Tax Act. Furthermore, you have already made various adjustments to the taxable income in accordance with Part 6 of the Tax Act ...
Cyber reporting requirements for Bermuda insurers, insurance managers and insurance intermediaries following the CrowdStrike faulty software update Key reporting obligations Prompt notification Bermuda insurers, insurance managers and insurance intermediaries (including brokers, agents and insurance marketplace providers) (each, a "Registered Person") must forthwith notify the BMA upon coming to the knowledge, or having a reason to believe, that a cyber reporting event has occurred ...
Carey Olsen advises Mercer Park Opportunities Corp. on its US$200 million IPO Mercer Park Opportunities granted the underwriter, Canaccord Genuity Corp., a non-transferable over-allotment option to purchase up to an additional 3,000,000 Class A Restricted Voting Units at the same price per unit, exercisable within 30 days following the offering's closing ...
Guernsey corporate and finance update Q2 2024 NAV Facilities for Guernsey Funds: What’s the noise about? As late as 2022, the net asset value (“NAV”) credit facility was seen as a relatively underutilised sector of the fund financing product offering. However, the interest and demand for NAV facilities has sharply increased with sponsor borrowers wishing to take advantage of the benefits that NAV facilities can offer in the current fund raising and M&A environment ...
Jersey corporate and finance update Q2 2024 Contents Jersey implementation of Pillar Two Response to consultation on sustainable finance Proposed amendments to the Trusts (Jersey) Law 1984 Amendments to the Jersey Private Funds regime Information from the Jersey Registry Jersey implementation of Pillar Two As part of its commitment to adhering to international standards, Jersey has updated its position on the implementation of Pillar Two ...
British Virgin Islands corporate and finance update Q2 2024 Mutual evaluation report In February 2024, the Financial Action Task Force published its mutual evaluation report on the BVI, its compliance with the FATF Recommendations and the effectiveness of anti-money laundering/counter-terrorist financing controls and systems ...
Cayman Islands corporate and finance update Q2 2024 Contents Amendments to the Cayman Islands beneficial ownership regime Winding up a Cayman segregated portfolio company for the insolvency of a SP Proposed amendments to the Virtual Asset (Service Providers) Act 2024 Revision Aircraft repossession - using a Cayman Islands trust to hold the aircraft Amendments to the Cayman Islands beneficial ownership regime Following the Beneficial Ownership Transparency Bill, 2023 published
Bermuda corporate and finance update Q2 2024 Contents Introduction to Bermuda’s Corporate Income Tax Act 2023 Cyber risk management The Bermuda Monetary Authority enhances its Insurance Regulatory Regime Introduction to Bermuda’s Corporate Income Tax Act 2023 On 27 December 2023, the Corporate Income Tax Act 2023 (“CITA”) received governor’s assent in Bermuda ...
Carey Olsen named best offshore law firm at the China Business Law Awards 2024 The China Business Law Awards receive thousands of nominations from Chinese and international legal professionals and other leading industry decision-makers. In determining the winners, China Business Law Journal's editorial team carefully consider each firm's notable deals, cases and other achievements over the past year ...
Carey Olsen leads offshore firms in Chambers High Net Worth 2024 Keith Robinson, Bermuda partner and global head of the trusts and private wealth practice, maintains his prestigious Star Individual ranking for the second year in a row. The nine Band 1 rankings also include four practice rankings for Bermuda, Cayman Islands, Guernsey and Jersey ...
Jersey Wills for non-Jersey domiciled clients Our service We provide a comprehensive Will drafting service for clients who are domiciled outside Jersey but who have movable assets situate in the Island. Jersey movable assets can include bank accounts in the Island, stocks and shares in companies incorporated in, or with their Registrars based here in the Islands and other tangible assets ...
Registering a British Lasting Power of Attorney (LPA) in Jersey It is not currently possible for a non-Jersey resident to put a local, Jersey lasting power of attorney in place to cover their Jersey based assets. Instead, the Jersey Court will recognise a power of attorney (or equivalent document such as a guardianship or deputy order) issued by another jurisdiction provided that power of attorney is properly registered with the Royal Court of Jersey ...
Guernsey poised to benefit from new LSE rules to boost growth and innovation The UK’s Financial Conduct Authority (“FCA”) has announced new rules for listings on the London Stock Exchange (“LSE”), which come into effect from 29 July 2024. The new rules are the biggest change to the listing regime in over 30 years and aim to support a wider range of companies to issue their shares on a UK exchange, increasing opportunities for investors ...
Carey Olsen associate Yan-Xia Rogers called to the Bermuda Bar Five lawyers spoke in support of Yan-Xia's application to be admitted to the Bermuda Bar, including Carey Olsen partner Kyle Masters who moved the application. Yan-Xia was joined by family, friends and colleagues in a courtroom in the Dame Lois Browne Evans Buildings for the proceedings, to whom she attributes her success and believes were her "pillars of strength" during challenging times ...
Carey Olsen named Offshore Law Firm of the Year at Chambers High Net Worth Awards 2024 The prestigious annual awards recognise national and international law firms which have demonstrated outstanding legal work and expertise, excellent client service and impressive strategic growth and innovation within the trusts and private wealth sector over the past year ...
Carey Olsen advises Rosebank Industries on application to trade on London Stock Exchange The Rosebank co-founders are previous leading members of the senior management team of Melrose Industries plc ("Melrose") and intend to recreate the same successful ‘Buy, Improve, Sell’ business model which they pursued at Melrose ...
