Conyers advises Lancashire Holdings on placing to raise approximately £131m
Conyers Dill & Pearman has advised insurance specialist Lancashire Holdings on its placing to raise funds for the proposed acquisition of Cathedral Capital.
Charles Collis and Veronica Strande of Conyers’ London office advised Lancashire on the placing, which involved a Bermuda cash box structure to raise approximately £131m.
The proceeds of the placing are being used to part-fund the proposed acquisition by Lancashire from Cathedral Capital’s existing shareholders.
It was the first time Bermuda has been chosen as the offshore jurisdiction for the cash box SPV.
News from Conyers Dill & Pearman
Briefings from Conyers Dill & Pearman
Cayman Islands Law Update: the Exempted Limited Partnership Bill and the Contracts (Rights of Third Parties) Bill
Following extensive consultation in both the public and private sectors, the Exempted Limited Partnership Bill 2014 was gazetted on 21 February 2014.
The court looked at the issue of whether a stranger to a trust, who dishonestly assists in a breach of trust, is a ‘trustee’ within the meaning of s21(1)(a) of the UK Limitation Act 1980.