DEALS & CASES| COMMERCIAL

Cavendish Corporate Investments PCC Limited

Acted for Cavendish Corporate Investments PCC Limited in negotiations with Quilter's standard terms & conditions for investment management and ensuring the cell of the pcc was protected and that liabilities were ring fenced to the particular cell in question.

Alderney Renewable Energy Limited

Acted for Alderney Renewable Energy Limited ('ARE') in negotiation with States of Alderney for rights to exploit tidal power in Alderney's territorial waters. This transaction involved the development of new laws, a unique licensing framework, the drafting and negotiation of the supporting commercial agreements and general regulatory advice on the development of the first tidal power project in the UK to move beyond the testing phase. Collas Day also advised on the funding of ARE in various commercial agreements relating to the supply of turbines and equity investment. This project was a one off in terms of the type of work being undertaken and the scope of the project in the Channel Islands.

Close Fund Services Limited

Acted for Close Fund Services Limited in its capacity as trustee/custodian of an incorporated cell company structure in connection with a complex transaction concerning the proposed transfer of both assets and members from one incorporated cell to another. Our role was to advise Close as to its roles and responsibilities as custodian and ensure compliance with the same.

Vitec Group

Acted for Vitec Group in respect of proposed payment of a significant dividend. Advice concerned transitional issues under the new companies law and amendments to the company's articles to ensure future dividends could be dealt with efficiently.

Starboard Settlement / Herm Island

Collas Day acted for the trustees of the Starboard Settlement in the acquisition of Herm Island. The transaction involved the negotiation and drafting of a new lease from the States of Guernsey of the 80 acre island and the acquisition from the previous owners of the businesses carried on there which include the White House Hotel and the Mermaid Tavern. A team drawn from Collas Day's Commercial and Property departments worked on the transaction. Extensive negotiation and consultation was required with government and with Guernsey's constitutional representatives in the course of the transaction, making this a unique and highly sensitive transaction. Herm is highly regarded, in particular by the people of Guernsey: the change of ownership attracted significant attention in Guernsey and abroad.

Richmond Fiduciary Group

Acted for Richmond Fiduciary Group in preparation of pro-forma employee benefit trust deed and associated deed of appointment. Client intended to use this document for marketing trust services to Asian clients.

IPES / private equity firms

Acted in conjunction with IPES for various private equity firms advising in relation to transitional matters affecting existing private equity funds arising out of recent amendments to the POI Law.

Lombard North Central PLC

Acted for Lombard North Central PLC in structuring financing and guarantee arrangements provided to a prominent international business based out of Guernsey. The matter required an innovative, solutions based approach that will lead to efficiencies for both the lender and borrower.

Close Fund Services Limited

Acted for Close Fund Services Limited in connection with the transfer of administration and custodial services of six class B funds. Matter involved extensive negotiation of the terms of the service provider agreements to protect Close's interests.

Sarasin & Partners LLP

Acted for Sarasin & Partners LLP in respect of closing down and winding up of Winterthur/Sarasin EPP GlobalSar Dollar Fund, one of its open-ended unit trusts that had run its course. The matter required liaison with the GFSC, the trustee and other service providers.