Offshore firms announce alliance

Two leading offshore law firms yesterday announced a deal to provide clients with British Virgin Islands (BVI), Cayman Islands, Guernsey and Jersey legal services.
Alex Ohlsson: multi-jurisdiction services

Alex Ohlsson: multi-jurisdiction services

The association will see Cayman Islands, Guernsey, Jersey and London-based Carey Olsen join with Hempel and Boyd – which provides BVI legal services from its offices in the BVI and Cape Town in South Africa.
The link follows Carey Olsen’s entry into the Cayman Islands legal market in 2012 and its launch of BVI services through its Guernsey office in 2012.
Carey Olsen managing partner Alex Ohlsson commented: ‘Our clients are increasingly looking to us to provide services in multiple jurisdictions. Hempel and Boyd caught our attention as a young and dynamic firm with a strong client-orientated approach, which matches our own ethos.’

Record boast

Meanwhile, Forbes Hare was lead offshore counsel on what it claims was the first Russia-focussed innovated public acquisition company (IPAC), while also boasting that it tied up the deal in record time.
Forbes Hare and US firm Loeb & Loeb created a shell company structure with innovative involvement from a BVI-registered company, which allowed a Russian entity to launch an initial public offering (IPO) in the US capital markets.

Quiet market

CIS Acquisition– a recently formed IPAC -- announced its IPO and kicked off trading just before the end of last year. Forbes Hare advised on all aspects of the IPO, including preparation of offering documents.
Corporate head and partner Jose Santos led the Forbes Hare team, commenting that the transaction was important as ‘the market has been quiet for some time and the client was keen to get this deal through before 2012 year-end so we had to work hard to get this wrapped-up. This offering is the first IPAC to be focussed on the Russian and Eastern European market, and we hope it could signal the start of a new period of growth and activity in the region.’

Email your news and story ideas to: [email protected]