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18-Nov-2019
Walkers Advises On $1 Billion Facility For Rusal

Walkers has advised the lenders to international aluminium giant Rusal on the Jersey law aspects of a $1 billion pre-export finance facility.

Walkers' Jersey Banking & Finance team advised ING on the Jersey law elements of the five-year $1,085 million facility for the company, which is the world's biggest producer of green aluminium.

The Walkers team was led by partner Nigel Weston, working alongside senior counsel Jon Le Rossignol and associate Ellen Jarvis.

Walkers worked with lead counsel Clifford Chance on the financing.

Nigel said: "We are pleased to have supported Clifford Chance and ING on such a significant piece of work, having also advised lender-side on Rusal's existing $2 billion pre-export finance 2017 facility, which the proceeds of this facility will be used to partly refinance."

Walkers' specialist Banking & Finance team in Jersey continues to develop and grow – Jon and fellow senior counsel Tristan Maultby both joined the firm this year from competitor firms.

Walkers' legal headcount in Jersey has grown by 50% in the last 12 months as part of a continuing strategic growth plan across the Channel Islands.

18-Nov-2019
Walkers Admits New Caymanian Attorney - Zoe Nolan

Walkers is pleased to announce that Zoë Nolan has completed her legal training and was called to the Cayman Islands Bar on 13 November 2019. The application was moved by Walkers' Partner Colette Wilkins before the Hon. Justice Kawaley, at the Grand Court in the Cayman Islands.

Zoë grew up in the Cayman Islands and was a recipient of the 2013 Walkers Legal Scholarship. In 2016, she completed her undergraduate degree in Law and Sociology at the University of Cardiff in the United Kingdom and graduated with Upper Second Class Honours.  Zoë then undertook and completed her LPC LLM in Law and Business at the University of Law (Moorgate) a year later. 

During her time as a student, Zoë participated in three legal internships with Walkers, starting in 2014, and was then articled to Rob Jackson, a Partner in Walkers' Finance and Corporate Group, in 2018. In addition, Zoë received a scholarship from South Square Chambers and the Recovery and Insolvency Specialists Association, which provided her the opportunity to complete the South Square Chambers Pupillage in London between May - August 2019. 

Zoë will take a place in Walkers' Insolvency & Dispute Resolution Group as an associate.

Zoë stated: "Throughout my internships and subsequently my Articles, Walkers invariably provided me with an exemplary learning environment which inspires ambition, innovative thinking and a strong sense of self. I am delighted to be joining Walkers' Insolvency and Dispute Resolution team and to continue working alongside such passionate and personable individuals, who invest their time and energy into ensuring you accomplish your goals."

Walkers' Partner and Chair of the Trainee Committee, Caroline Heal commented: "We would like to congratulate Zoë on her admission to the Cayman Islands Bar. The process of identifying the brightest Caymanian candidates and training them through our rigorous programme is important to Walkers. It has been extremely rewarding for us to see Zoë develop into her new career as an attorney at law."

 

Zoe Admission

(L to R: Zoe Nolan, Hon. Justice Kawaley, Colette Wilkins)



18-Nov-2019
Walkers Leads Legal 500 Caribbean Guide 2020 with Lawyer Rankings

Walkers is pleased to announce that it has received 41 lawyer rankings in the 2020 Legal 500 Caribbean directory, more than any other offshore firm. In the Cayman Islands, Walkers received a jurisdiction-leading 28 lawyer rankings, equating to 19.7% of the total lawyer rankings awarded.

The guide also ranked 16 practice areas from Walkers' offices in Bermuda, the British Virgin Islands and the Cayman Islands. Six practice areas are ranked as a Band 1 practices with seven others ranked in Band 2. The following practice areas achieved the top tier rating:

  • British Virgin Islands - Dispute Resolution
  • Cayman Islands - Banking, Finance & Capital Markets
  • Cayman Islands - Corporate & Commercial
  • Cayman Islands - Dispute Resolution
  • Cayman Islands - Investment Funds
  • Cayman Islands - Trusts / Private Client
Within Walkers' 41 lawyer rankings, 14 of Walkers' attorneys received the top "Leading Individual" rating from Legal 500:

Bermuda:

  • Jonathan Betts - Banking, Finance & Capital Markets and Corporate & Commercial
  • Kevin Taylor - Dispute Resolution
British Virgin Islands:

  • Oliver Clifton - Dispute Resolution
  • Rosalind Nicholson - Dispute Resolution
Cayman Islands:

  • Rob Jackson - Banking, Finance & Capital Markets and Corporate & Commercial
  • Philip Paschalides - Banking, Finance & Capital Markets
  • David Collins - Banking, Finance & Capital Markets
  • Matthew Goucke – Dispute Resolution
  • Neil Lupton – Dispute Resolution
  • Colette Wilkins – Dispute Resolution
  • Ashley Gunning – Investment Funds
  • Rolf Lindsay – Investment Funds
  • Caroline Williams – Investment Funds
  • David Pytches – Trusts / Private Client
A further 11 lawyers received the "Next Generation Partners" ranking – highlighted the strength and depth of Walkers' bench:

Bermuda:

  • Natalie Neto – Corporate & Commercial
  • Peter Dunlop – Insurance / Reinsurance
British Virgin Islands:

  • Patrick Ormond- Banking, Finance & Capital Markets and Corporate & Commercial
  • Murray Laing – Dispute Resolution
Cayman Islands:

  • Paige Gaston-Thiery – Banking, Finance & Capital Markets
  • Nick Dunne – Dispute Resolution
  • Shelley White – Dispute Resolution
  • Andrew Barker – Investment Funds
  • Bicrom Das – Investment Funds
  • Theo Lefkos – Investment Funds
  • Monique Bhullar – Trusts / Private Client
Commenting on the results, Global Managing Partner Ingrid Pierce said: "I am delighted with these results which reflect the hard work and dedication of our people who continually go the extra mile for our clients. Walkers is full of talented professionals and it's great to see those listed being recognised by leading market commentators."

15-Nov-2019
Legal 500 Highlights Walkers' Bermudian Strength

The 2020 Legal 500 Caribbean guide has highlighted Walkers continuing success in Bermuda. Ranked in four practice areas, six Walkers lawyers have been individually recognised.

Managing partner Kevin Taylor was identified as a "Leading Individual" within the Dispute Resolution practice area and partner Jonathan Betts was ranked as a "Leading Individual" in both the Corporate and Commercial and the Banking, Finance and Capital Markets practice areas.

Partners Natalie Neto and Peter Dunlop were nominated as "Next Generation Partners" for their respective Corporate and Commercial and Insurance/Reinsurance practices. Senior counsel Paul Nystrom and senior associate Kai Musson were both ranked as "Rising Stars" for their respective banking and dispute resolution practices.

Commenting on the lawyer rankings, Jonathan Betts stated: "It is great to see that the hard work and commitment that my colleagues give to our clients is being recognised in the market. We continue to build a market-leading outfit and with the current bench of talent at our disposal and our plans to grow the future is looking very bright."

Walkers received three Band 2 rankings for each of its Bermuda Banking, Finance and Capital Markets, Corporate and Commercial and Dispute Resolution practices. Walkers also entered the Bermuda Insurance/Reinsurance rankings at the first attempt off the back of strong growth in that area led by Peter Dunlop and partner Sarah Demerling.

"Since the Bermuda office opened in 2016, we have been dedicated to growing our Bermuda capabilities through the hiring and nurturing of leading Bermudian talent," commented Managing partner Kevin Taylor. "The fact that we now see ourselves featuring in four separate Legal 500 practice categories, including Bermuda's world-renowned re/insurance market, is very pleasing."


14-Nov-2019
Walkers Named #1 Global CLO Market offshore service provider in Creditflux's CLO Census

Walkers is delighted to announce that we have been ranked for a second year running as number one for 'Best Offshore Fund Administration Services' and 'Best Offshore Legal Services' in Creditflux's third annual CLO Census for services provided to the global collateralized loan obligation (CLO) market.

Head of Walkers Fiduciary, Steven Manning comments, "We are delighted to be recognised by our clients in this manner. We have an earnest commitment to helping our clients consistently achieve both their legal and operational objectives."

Creditflux's CLO Census surveyed global CLO market participants, including, arrangers, investors, managers and service providers on a series of questions designed to gauge the current sentiment of the market, investigate views on controversial topics and highlight the industry’s preferred service providers.

Walkers Partner, Garry Ferguson commented, "Walkers is delighted to receive this award for the second year running in recognition of our market leading and fully-integrated legal, taxation, corporate and listings services. We pride ourselves on providing our clients with a high quality of service that is incisive, responsive and dependable and we are grateful to have been recognised by our clients in Creditflux's CLO Census as the top CLO service provider."

 

Download CLO Census



11-Nov-2019
Update on Guernsey's discrimination legislation proposals

The Committee for Employment & Social Security announced on Friday 8 November that it will be focusing its efforts on delivering a reduced set of discrimination proposals. It is clear from the announcement that the Committee's intention is to stagger the implementation of the 10 proposed protected grounds, rather than reduce their number.

Its immediate priority is to introduce protection on the grounds of disability including for carers of disabled people. Having received the most challenging and critical consultation feedback on its proposals for disability discrimination, the Committee has committed to revisiting the definition of disability. This will provide some comfort to employers, many of whom have been concerned with the breadth of the proposed definition and the fact that it would be so different from the approach taken in Jersey and the UK.

If sufficient progress is made with disability, the additional grounds of protection that the Committee will advance are race, religious belief and sexual orientation. This is because the consultation responses have indicated only minor modifications to the proposals will be needed for these to be put forward.

The Committee will be suspending work on the other grounds on which it consulted: age, carer status (in relation to parents), marital status, pregnancy or maternity status, sex, and trans status. However, we can expect to see an indicative timeline for when these grounds should be addressed and included in the legislation, in the Committee's Policy Letter.

Employers should continue to prepare for the introduction of the proposed legislation by reviewing their existing policies and procedures; ensuring that they are dealing with any bad practices within their organisations promptly; and continuing to raise awareness and encourage best practices via workplace training.