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Jersey Structure Plays Key Role In Man Group Acquisition

Wednesday, August 8, 2012

A Jersey scheme of arrangement was used in Man Group plc's acquisition of FRM Holdings Limited, a transaction which establishes Man Group as the largest independent non-US based fund of hedge funds.

A scheme of arrangement provides an alternative to other modes of corporate restructuring through an agreement between a company and its shareholders and/or creditors. The arrangement must also receive approval from a court.

FRM is one of the largest and best-resourced hedge fund research and investment specialists with a global infrastructure of six offices and approximately 150 professionals in Europe, North America and Asia and it has funds under management of approximately USD8bn. The combined group will have total funds under management of approximately USD19bn.

Guy Coltman, partner at Carey Olsen, the firm which advised FRM on the Jersey legal aspects of the transaction alongside Allen & Overy LLP commented: “We are delighted to have been involved in yet another significant scheme of arrangement. Carey Olsen is recognized for its expertise in transactions of this kind and so far this year we have advised on three high profile Jersey schemes of arrangement.”

This year Carey Olsen was involved in a deal believed to be the largest transaction of its kind in Jersey - Colfax UK Holdings Limited's acquisition of Charter International plc. In 2010, the firm structured and effected the largest ever scheme of arrangement in Jersey at the time when leading independent investor and fund manager Intermediate Capital Group acquired a large stake in legal services firm CPA Global. Carey Olsen was involved in the first Jersey scheme of arrangement, involving Sandpiper CI Group, in 2007.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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