Latest Briefings

Channel Islands Funds Quarterly Update: Q2 2020

Contents: 1 Developments in the Channel Islands 1.1 Mandatory Disclosure Rules 2 Jersey developments 2.1 Deadline for submission of JPF annual compliance return extended 2.2 Outsourcing Notifications to be submitted online 2.3 JFSC consultation on changes to fund fee rates 2.4 JFSC Annual Report 2019 published 2.5 Migration of foreign limited partnerships into Jersey 2.6 […]

Update on Cayman Islands mutual funds law and regulation

Timing for Registration of Previously Exempt Funds The sponsors and operators of Cayman Islands mutual funds which benefited from the “15 investor exemption” under the Mutual Funds Law (as amended) (the “Mutual Funds Law”) should, unless otherwise out of scope, by now be undertaking the process of registering with the Cayman Islands Monetary Authority (“CIMA”). […]

Limited partners’ extensive right to true and full information

In the recent judgment of In the Matter of Gulf Investment Corporation et al v. The Port Fund LP et al and the earlier judgment of Dorsey Ventures Limited v. XIO GP Limited, the Cayman Islands Grand Court has provided some welcome clarification regarding the extent of a limited partner’s statutory right to information in an exempted limited partnership.

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Property

SJ Berwin advised Chelsfield on its recent purchase of the City Gate office complex at Southwark Bridge, London, from Brixton Estate. Complex tenants include Unisys and the Insurance Ombudsman Bureau. The SJ Berwin team was led by John Eldridge, assisted by Tessa Rudnick and Julie Hasselberg. Jackie Newstead of Lovell White Durrant acted for Brixton […]

St Philip's rejigs hiring process

St Philip’s Chambers, the largest set in the country, is reforming its constitution to streamline the process by which new tenants are recruited. The reform, approved by the set’s management board last week, will reduce the time it takes to appoint a member to chambers from three months to as little as one week. The […]

Two take Brodie's role at 24 Old Buildings

Alan Steinfeld QC and Martin Mann QC are the new heads of chambers at commercial chancery set 24 Old Buildings following the sudden death of their predecessor. Tim Brodie QC died suddenly last month of a heart attack after a game of polo. Brodie, an old Etonian, was 70. Mann says: “Alan and I are […]

Quote of the week

“I recommend the excellent publication The Lawyer to all honourable members, even if they are not lawyers, because it has highlighted the problems with the bill sensibly and clearly.” – Nick Hawkins, Tory MP for Surrey Heath, applauding our campaign on access to legal aid in the House of Commons.

Financings

Clifford Chance advised Paragon Finance on a u185m deal involving the public issue of mortgage-backed floating-rate notes. The deal involved both a “true sale” and a “secured loan structure”. The securitised loan was made to a Luxembourg special purchase vehicle. Partners Andrew Forryan (pictured

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