Brexit

Following the result in the United Kingdom's EU referendum, Walkers has created a Brexit page dedicated to providing our clients relevant information about the jurisdictions in which we practise.

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Walkers Asset Recovery

Fifteen Walkers lawyers were recognised in the 2017 Who's Who Legal Asset Recovery guide. This is more than any other global law firm worldwide.

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Walkers Wins HFM Week Award

Walkers has been awarded the Best Offshore Law Firm Award for Client Service at the HFM Week US Hedge Fund Services Awards 2017.

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Walkers is a leading international law firm. We advise on the laws of Bermuda*, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey.
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Powerwomen 200

Walkers in IFC Powerwomen Top 200

Six Walkers lawyers have been ranked in the 2017 edition of CityWealth's IFC Powerwomen Top 200.

 

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Walkers named a leading Global Restructuring & Insolvency Law Firm 2018, and Top Offshore Firm

Who's Who Legal, in collaboration with Global Restructuring Review, confirms Walkers as the leading offshore law firm for restructuring and insolvency law, as well as a global leader among the world's top onshore firms for 2018.

With seven ranked lawyers, Walkers places at equal sixth in the overall global listings, which confirms Walkers as the leading offshore law firm for restructuring and insolvency law. Cayman partner Neil Lupton has also been ranked as a Thought Leader within the guide. Rankings are based on peer feedback and nominations.

WWL IDR

Who's Who Legal summed up Walkers' practice in the following words:

"One of the foremost offshore firms, WALKERS, sees seven lawyers listed this year.

The “excellent” Neil Lupton receives high praise as a leader in insolvency and dispute resolution. He regularly handles both contentious and non-contentious complex cross-border restructurings.

“Top young partner” Matthew Goucke is a renowned expert on distressed funds. His expertise in investment vehicles makes him top choice for contentious insolvencies.

Colette Wilkins is recommended by multiple sources as a well-known and “excellent” litigator with strong insolvency expertise.

Barnaby Gowrie receives plaudits for his insolvency disputes practice. He is regularly instructed on complex international restructuring matters and is known as “a very sharp and innovative practitioner”."


Source WWL: http://whoswholegal.com/news/analysis/article/34298/restructuring-insolvency-2018-analysis/ 

For more information, please visit our Insolvency & Dispute Resolution page here.

Walkers signs up as BSX listing sponsor

Walkers Corporate (Bermuda) Ltd has joined the Bermuda Stock Exchange as a listing sponsor.

Ariane West, a partner in the corporate and finance practice at Taylors, the Bermudian law firm which operates in association with international firm Walkers, received a tombstone plaque from Greg Wojciechowski, chief executive officer of the BSX, to mark the occasion.

 

Ariane and BSX

Ariane West, left, accepting a tombstone from Greg Wojciechowski, CEO of the BSX


Among the type of listings the firm expects to attract are insurance-linked securities, including catastrophe bonds, and debt securities, Ms West said.

Walkers has a presence in many offshore financial centres, including the British Virgin Islands, Cayman, Dubai Guernsey, Hong Kong, Ireland, Jersey and Singapore, as well an office in London. And that global reach will benefit the island, Ms West said.

Taylors, through its association with Walkers, will be able to raise Bermuda’s profile as a jurisdiction,” Ms West said. “When clients of the Walkers group are considering a jurisdiction in which to list, they will now have a Bermuda option to consider. Bermuda’s competitive edge is that it has a business community with first-class service providers at the leading edge, focused on innovation, as well as internationally recognised regulation and speed to market.

Mr Wojciechowski said a listing sponsor did several beneficial things, chief among them bringing business to the BSX and to the island.

We’re a small country and a small exchange and it’s not easy to be everywhere to talk about the benefits of Bermuda,” Mr Wojciechowski said.

Walkers has carved out a business strategy for listing services. They understand which of their clients could benefit from what the exchange has to offer. Through having the BSX as a listing option for the first time, Walkers’ clients around the world will become aware of Bermuda’s advantages.

Walkers Corporate (Bermuda) Ltd is the BSX’s 18th listing sponsor.

 

This article first appeared in the Royal Gazette on 24 January 2018, click here for the original.

Walkers Bolsters British Virgin Islands Team with Hire of Patrick Ormond

International law firm Walkers is pleased to announce that Patrick Ormond has joined the firm as a Partner in the Finance, Corporate & Funds team in its British Virgin Islands office.

Patrick brings significant transactional and BVI experience having previously worked in the banking and finance team at Macfarlanes in London and in the BVI offices of two leading offshore law firms.

Patrick has a broad corporate and finance practice, advising financial institutions, corporates, funds and investors on international finance and corporate transactions.

David Collins, Walkers' BVI Office Managing Partner stated "We are very pleased that Patrick has joined our team. His expertise and experience will enhance our already strong global team. This hire also demonstrates Walkers' commitment and investment in maintaining a pre-eminent global BVI practice."

Patrick stated "I’m delighted to have joined Walkers and look forward to working with expert colleagues across the global network. Walkers' excellent reputation, consistent top tier rankings and unparalleled client base provide an exceptional and exciting platform from which to build my practice."

New Partner Nicholas Blake-Knox Joins Walkers as Head of Funds in Ireland

Walkers is delighted to announce the appointment of Nicholas Blake-Knox as Head of Funds in our Irish office. Prior to joining Walkers, Nicholas was Senior Vice President and Senior Legal Counsel in PIMCO in London with responsibility for the legal management of all areas of PIMCO’s EMEA funds business, covering liquid and alternative investment funds across multiple jurisdictions.

Nicholas has in excess of fifteen years’ experience in the asset management and investment funds industry and has worked in both legal and finance related positions during this time.

Walkers is a pre-eminent financial services law firm and is regarded as a global leader in the investment funds industry.

 

Garry Nick webpage 2

Ireland Managing Partner Garry Ferguson (L) and Ireland Head of Funds Nicholas Blake-Knox (R)

Investment Funds Observations 2017 - Part Seven

From our vantage point as advisers to many of the world’s top private equity houses, broad market forces flow through to our instructions, and ultimately drive many of the terms of the funds we advise.

In this series we take a look at what we have been seeing in the investment funds world. Part seven will focus on private equity funds.

Fees

20% remains by far the most common carried interest percentage, typically arising after a preferred return hurdle of 8% has been passed.

PE Carry Entitlement

Fund-as-a-whole waterfalls continue to outnumber their deal-by-deal counterparts, with investors insisting on whole fund performance before allowing for payment of performance allocations.

The stated range of management fees continues to be a little broader, with some deviation from the historical 2% standard.

PE Mnagement Fee

In general however fee terms remain subject to side letter provisions, with certain institutional limited partners enjoying some success in negotiating fee breaks on both carried interest and management fees (albeit this is less prevalent than in the hedge fund sector).

Cayman LLCs

The final word goes to Cayman Islands limited liability companies, introduced in Cayman for the first time pursuant to The Limited Liability Companies Law, 2016. Cayman LLCs are designed to be as similar as possible to their counterparts in Delaware, with which onshore counsel are very familiar. Whilst currently most commonly used for general partner entities, downstream portfolio holding companies and joint venture vehicles, tax consideration allowing, there is also scope for Cayman LLCs to be used as private equity and hedge fund vehicles, typically where external concerns demand a vehicle with separate legal personality. In any such situation the limited liability company agreement governing a Cayman LLC offers materially more flexibility, akin to that offered by the partnership agreement of an exempted limited partnership, than the articles of association of a Cayman Islands exempted company.

We have not as yet seen any private equity fund vehicles structured as Cayman LLCs and we do not expect this to be a significant trend. However, we now routinely see funds formed with Cayman LLCs as their general partner, or with general partners in existing fund structures being replaced by, or converted into, Cayman LLCs. Managers may be seeking to either move their fund structures entirely to Cayman by swapping out existing Delaware LLC general partners, or to replace Cayman exempted company general partners with LLCs offering greater flexibility with regards to governance structures, fiduciary duties and the allocation of carried interest amongst individual managers

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