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Glimpse of Island law firms’ global clientele offered by Legal 500 rankings

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Conyers Dill and Pearman: Advised a member of a royal family on setting up a trust

The latest Legal 500 Rankings provide a glimpse into the global reach and super-wealthy clients of Bermuda’s leading law firms, which have advised everyone from NYSE companies to an online lottery to the joint liquidators of two of the largest Madoff feeder funds.The Legal 500 revealed Conyers Dill & Pearman, widely regarded as a leader in private client and technical trust advice, even recently advised “a member of a Royal family with regard to the creation of a private trust company in Bermuda”.Conyers also acted “for a high-profile billionaire on various restructurings of trust matters”.And, Legal 500 said, “The practice also represented a protector on a matter involving the restructuring of four family trusts that owned a large shipping group, pursuant to a mediated agreement between the principal beneficiaries, the matter unusual because the firm advised the protector formally, as opposed to its usual representation of the trustees or the settlor.”Legal 500 said Conyers Group head is “Bermuda legend” Alec Anderson and the practice “continues to attract a diverse international group of clients, including high-net-worth business owners, investors, entrepreneurs, many of the wealthiest families worldwide, other professional and institutional trustees and their advisers, banks and charitable entities; and has seen continued growth from the firm’s offices in Singapore and Hong Kong for advisory services, as well as fiduciary trustee and protector services. Experienced trust litigators, who are regularly involved in substantial international trusts disputes, complement the private client team.”Legal 500 ranks Conyers number one in trusts/private clients in Bermuda, Appleby number two, and MJM and Sedgwick Chudleigh joint number three.The report noted Sedgwick Chudleigh was “actively involved in large and complex trusts and private client disputes in Bermuda” and the team recently represented a number of beneficiaries in respect of two high-value family trusts where the trusts were undergoing substantial restructuring.Legal 500 ranks Appleby and Conyers joint number one in corporate and commercial law, Cox Hallet Wilkinson number two, Attride-Stirling & Woloniecki, MJM and Wakefield Quin joint number three; Marshall Diel & Myers and Trott & Duncan are also highly ranked.The report says Appleby is “the firm to have on your side of the table”.“The practice recently acted as Bermuda counsel to Global Crossing in relation to the sale to Level 3 Communications, which was achieved through an amalgamation,” Legal 500 said. “It also advised HSBC Bank in relation to a Government of Bermuda note issue that raised $475 million.”The report further said Conyers was “a ‘globally respected offshore legal practice” boasting vast experience and historical strength in corporate law in Bermuda.“It also assisted GasLog, a Bermuda liquefied natural gas shipping company, on its $329 million NYSE IPO in March 2012, and acted for SAC Capital Advisors in connection with the formation and private offering of certain shares of SAC Re Holdings and the licensing of its wholly owned subsidiary, SAC Re, as a new Class 4 reinsurer.“The practice has been increasingly active in financing deals, with an established reputation as offshore counsel in Russian aviation finance transactions. It has also enjoyed a resurgence in securitisation matters. Recently, the practice assisted NYSE-listed Textainer Marine Containers, one of the world’s largest lessors of intermodal containers (based on fleet size), on its $1.2 billion warehouse securitisation facility.”The report said: “Cox Hallett Wilkinson’s ‘reliable and effective’ Jonathan Betts led the firm’s Bermuda advice to Scotiabank Europe in relation to a £50 million senior secured multi-currency revolving facility for Utilico Emerging Markets, a Bermuda company that makes investments predominantly in infrastructure, utility and related sectors.”The report ranked Appleby and Conyers joint number one in re/insurance law, and Attride-Stirling & Woloniecki, Marshall Diel & Myers and Sedgwick Chudleigh joint number two.It said the Appleby team served as Bermuda counsel for Kizuna Re, the Bermuda special purpose insurer, which issued a $160 million catastrophe bond to collateralise a reinsurance agreement that covered Japanese typhoon and windstorm risks.“It also served as Bermuda counsel for Holpon Insurance, the Bermuda special purpose insurer, which issued 33 million euros worth of notes to a handful of large investors, collateralising an insurance arrangement with MyLotto24 that protected against lottery winnings in their games exceeding a preset amount over a three-year period, such arrangement being innovative because it put a cat bond-type structure in place in a completely new risk arena,” the report said.And in the area of dispute resolution, Legal 500 ranked Appleby and Conyers number one, MJM, Marshall Diel & Myers and Sedgwick Chudleigh number two and Attride-Stirling & Woloniecki, Cox Hallett Wilkinson and Trott & Duncan number three.It said Conyers’ team recently acted for Nabors Global in obtaining the discharge of an injunction that prevented Nabors from transferring shares.Legal 500 also noted the Bermuda office of the US and UK-based law firm Sedgwick Detert Moran & Arnold LLP, Sedgwick Chudleigh’s main strengths were in commercial litigation and arbitration; insurance/reinsurance claims, coverage and disputes; insolvency and restructuring; and contentious trusts disputes and restructuring’s.“The ‘dynamic, no-nonsense practice’ continues to represent the joint liquidators of two of the largest Madoff feeder funds, Kingate Global Fund and Kingate Global Fund, in complex and multifaceted litigation,” it said, adding Mark Chudleigh and special counsel Alex Potts were “top class”.The Legal 500 Series has been published for more than 20 years.

Alec Anderson: Described as a 'Bermuda legend'

The Legal 500 Bermuda RankingsCorporate and commercial1 ApplebyConyers Dill & Pearman2 Cox Hallett Wilkinson3 Attride-Stirling & WolonieckiMJM LimitedWakefield Quin

Dispute resolution1 ApplebyConyers Dill & Pearman2 MJM LimitedMarshall Diel & MyersSedgwick Chudleigh3 Attride-Stirling & WolonieckiCox Hallett WilkinsonTrott & Duncan

Insurance/reinsurance1 ApplebyConyers Dill & Pearman2 Attride-Stirling & WolonieckiMarshall Diel & MyersSedgwick Chudleigh

Trusts/private client1 Conyers Dill & Pearman2 Appleby3 MJM LimitedSedgwick Chudleigh