Walkers has advised on one of the first continuances of a foreign limited partnership into the Island of Jersey.
A Walkers team, led by Group Partner Christopher Reed, advised on the migration of the limited partnership working alongside lead counsel in the Netherlands, and corporate services provider Hawksford in Jersey.
Christopher was assisted by a team including Senior Associate Ruth Donnellan.
The transaction involved the migration of a foreign limited partnership into Jersey using the newly introduced statutory migration scheme for the continuance of non-Jersey limited partnerships pursuant to the Limited Partnerships (Continuance) (Jersey) Regulations 2020 (Walkers’ briefing on the subject can be found by clicking here).
A Hawksford team, led by Director Darren Toudic and Associate Director James Quinn, assisted with the corporate administration aspects of the continuance.
Walkers’ Investment Funds & Corporate Practice Group has specialist experience in M&A, restructuring and general corporate matters involving regulated and unregulated businesses, often working with teams across multiple jurisdictions.
Christopher Reed, Group Partner, Walkers said: “We are very pleased to have advised our clients on this novel transaction – we expect this new migration regime to provide a useful route into Jersey for many clients looking to redomicile their partnership vehicles, thereby enabling them to take advantage of the fantastic financial services environment that Jersey has to offer.”
James Quinn, Associate Director, Hawksford, added: “We are delighted to have worked closely with Walkers as a trusted partner, supporting our client with their corporate structuring requirements. This is an important development for Jersey, and one which makes it easier for existing structures to access Jersey’s political and economic stability, robust regulatory environment, and deep pool of industry expertise.”