Facilitated the investment in a Guernsey law governed trust

Henry Brandts-Giesen, Craig Swart, John Lewis and Giles Corbin recently advised the trustee in relation to the establishment and constitution of complex architecture to facilitate an investment in a Guernsey law governed Limited Partnership Agreement. The structure involved the establishment of a purpose trust to incorporate and hold the entire issued share capital of a private trust company (PTC) exempt from regulation by the JFSC. The PTC then declared 7 new Jersey law governed trusts with bespoke investment and borrowing provisions under each of which a senior executive of a prominent Icelandic bank and his family were beneficiaries. The Trustees of each of these trusts then received additional funds from the relevant executive, borrowed further funds from the bank (under facilities governed by English law) and invested the same by entering into the LPA. In consideration bespoke indemnities were provided to the Trustees by each executive.

August 2007