The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Jersey-based firm Bedell Cristin advised on the first-ever protected cell company (PCC) in the Channel Islands and completed the deal on the same day as the new legislation became law.
The PCC was formed by Bedell Trust Company on behalf of MARS Capital Management on 1 February.
PCCs contain separate cells that enable fund managers to separate assets from liabilities. However, the cells are not treated as subsidiaries of the company but as one legal entity.
PCCs have been available in other offshore jurisdictions, such as the Cayman Islands and Guernsey, for many years.
However, Jersey PCCs differ because they allow investors to subscribe to shares in a particular cell. For PCCs in other jurisdictions, investors can subscribe to shares in the firm, but not to individual cells.
Investment funds lawyer Simon Pascoe, who led on the deal, said: "PCCs are a very attractive structure. They're flexible, offer potential lower costs and enable fund mangers to better manage their portfolios."
Pascoe is no stranger to PCCs, having advised on the product in both Cayman and the British Virgin Islands.