Schemes Of Arrangement In Jersey And Guernsey: New Case Law Paving The Way

O
Ogier

Contributor

Ogier  logo
Ogier provides legal advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg law. Our network of locations also includes Beijing, Hong Kong, London, Shanghai, Singapore and Tokyo. Legal services for the corporate and financial sectors form the core of our business, principally in the areas of banking and finance, corporate, investment funds, dispute resolution, private equity and private wealth. We also have strong practices in the areas of employee benefits and incentives, employment law, regulatory, restructuring and corporate recovery and property. Our corporate administration business, Ogier Global, works closely with Ogier's partner-led legal teams to incorporate and administer a wide variety of vehicles, offering clients integrated legal and corporate administration services. We have the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost effective services to all our clients.
With Schemes of Arrangement now the preferred method of acquisition in large takeover deals in the Channel Islands and beyond.
Jersey Corporate/Commercial Law

With Schemes of Arrangement now the preferred method of acquisition in large takeover deals in the Channel Islands and beyond Ogier's head of Corporate, partner Simon Dinning, tells BL Global how case law is gradually being developed to make the process smooth in the new City edition.

M&A deals being done in the Channel Islands are of global significance – and Ogier has built a track record in advising them, including:

  • the £46 billion takeover of Shire by Japan's Takeda Pharmaceutical (Jersey)
  • the $22.5 billion merger between mining companies Barrick Gold and Randgold Resources (Jersey)
  • the £5.6 billion acquisition of Friends Life by Aviva (Guernsey)

Cost and a comparatively protracted timetable for Schemes are no obstacle to large multinationals who like the degree of certainty a Scheme offers the bidding party compared with a traditional takeover offer.

Guernsey and Jersey law for Schemes closely follows the UK and, as Simon explains, "while English case law is not binding on the courts in Jersey and Guernsey, it is certainly persuasive.

"The English courts see a much higher volume of schemes and so develop precedent quickly, but our courts are also now well versed in schemes and have a number of decisions to rely on," he adds.

Read the full article here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More