<link>/en/News</link><pubDate>Wed, 30 Sep 2020 09:51:58 GMT</pubDate><language>en</language><item><title><![CDATA[Maples Advises on Restructuring Deal of the Year 2020]]> Maples and Calder, the Maples Group’s law firm, was pleased to advise the 10.5% noteholder of the Seven Energy Group in relation to the 2019 Seven Energy debt restructuring.  A complex and noteworthy matter, the transaction received recognition at the IFLR Sub-Saharan Africa Awards, winning Restructuring Deal of the Year 2020. 

Seven Energy is the leading integrated gas company in southeast Nigeria, with upstream oil and gas interests in the region and a midstream gas processing and pipeline infrastructure for distribution of gas and crude oil.  The restructuring involved the sale of certain oil and gas assets located in Nigeria to Savannah Petroleum Plc, a UK-based oil and gas exploration and development company.

A team based in the Group's law firm in London advised on this transaction and was led by Matthew Gilbert, a partner in the finance practice group, and assisted by Of Counsel Joanna Russell.  The firm was instructed by Allen & Overy LLP. 

 
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Niamh O’Shea, who is a Partner based in the Dublin office, joined the firm's graduate programme as a trainee in 2008. Upon qualifying in 2011, she joined the Funds & Investment Management practice and was appointed as Partner in January 2020.

 

Commenting on her award-win, Niamh said:  "It is a privilege to win this award and an honour to be recognised by Euromoney Legal Media Group among a number of other very accomplished lawyers across Europe.  I would like to thank my peers in the legal profession and of course our clients for their feedback."

 

Peter Stapleton, Partner and head of the Dublin Funds & Investment Management practice added: “Niamh joined the firm as a trainee in 2008 and progressed through the ranks to become a Partner earlier this year, so we are both delighted and proud that Niamh has received this prestigious international award.  This is a testament to Niamh’s talent, commitment and hard work over the past number of years and further highlights the Group's reputation as a leading adviser to the global funds industry.”

 

A 'Rising Star', according to the publication, recognises women across Europe who are blazing trails and making a name for themselves in their respective areas of practice

 

The European Women in Business Awards were presented virtually on Thursday, 10 September 2020. Deirdre McIlvenna, Partner in the Funds & Investment Management team was also shortlisted in the 'Best in Investment Funds' category. 

 

Earlier this year, the Funds & Investment Management team retained its position as the number one legal adviser to Irish-serviced funds for the seventh consecutive year by the Monterey Insight Ireland Fund Report 2019.

 

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<![CDATA[Maples Group Appoints Stephen McLoughlin as Head of Finance Practice in Dublin]]> Maples and Calder LLP, the Maples Group's law firm in Ireland, is pleased to announce the appointment of Stephen McLoughlin to head of its Finance practice in Ireland, effective 1 July 2020.  Stephen succeeds Nicholas Butcher, Managing Partner of the law firm in Ireland who has been acting as head of the practice for the last 18 months. Nicholas continues in his role as Managing Partner

The Dublin Finance practice is currently comprised of seven Partners and 13 Associates who specialise in structured finance, asset finance and banking transactions.

Stephen has been with the firm for nearly nine years, initially joining as an Associate before being promoted to Partner in 2015. A highly regarded finance lawyer, Stephen is consistently recommended by leading industry directories including Chambers and Partners, The Legal 500 and IFLR1000.  He works primarily with international clients and advises on a wide range of capital markets and structured finance products, including CLOs, RMBS and other securitisation structures, fund-linked structured products, ETC platforms, repackagings and debt issuance programmes.  He also advises regulatory issues impacting on structured finance vehicles including those in relation to the Prospectus Regulation, Market Abuse Regulation, AIFMD, EMIR as well as risk retention, disclosure and transparency requirements arising under the Securitisation Regulation. 

Commenting on his appointment, Stephen said: "I am delighted to take up the role and I look forward to continuing to work with our team of exceptionally talented finance Partners and lawyers.  We have been busy supporting clients as they navigate the current uncertain market conditions and the wider challenges posed by the current international pandemic and I, along with my team, will ensure our clients continue to receive the best quality legal advice."

"I congratulate Stephen on his appointment to head of the Finance practice in Ireland which is a reflection of his dedication, talent and commitment and a further example of our ability to provide exciting opportunities for our people at all levels of our business," commented Nicholas Butcher, Managing Partner of the Group’s law firm in Ireland. He added:  "I have no doubt that the Finance practice will continue to thrive under Stephen’s leadership, providing our global client base with the highest levels of service expected from an international law firm."

This appointment follows a number of internal promotions at the Irish office earlier this year and further demonstrates the number of career-progressing opportunities available at the growing firm.  In January, Niamh O'Shea and Ronan Cremin were both promoted to Partner in the Funds & Investment Management practice while Aisling Burke was promoted to Of Counsel in the Commercial Property team.

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<![CDATA[Maples BVI Advises Biohaven Pharmaceutical on up to US$950 million of New Funding]]> Maples and Calder, the Maples Group's law firm was pleased to advise its longstanding client, Biohaven Pharmaceutical Holding Company Ltd ("Biohaven") on the British Virgin Islands (BVI) legal aspects of its US$500 million non-dilutive term loan with Sixth Street and its US$450 million funding agreement with Royalty Pharma.  These transactions relate to separate funding arrangements with Sixth Street and Royalty Pharma with both deals closing in August 2020. The new funding will be used, in part, for the development, promotion and commercial launch of NURTEC ODT, the company's latest FDA-approved migraine medication.

 

Chris Newton, a Corporate Partner based in the Group's BVI office worked alongside Associate, Amel Wehden and Chartered Legal Executive, Chloe Harris in advising Biohaven, a BVI entity that is listed on the New York Stock Exchange, and other entities within the group.

 

Commenting on the transaction, Chris said, "We were delighted to assist Biohaven in securing this funding which will support the delivery of NURTEC ODT to patients around the globe. This cash injection will help to support the long term success of Biohaven and we very much look forward to continuing to work with the Biohaven team as their business progresses."

 

A longstanding client of the Group, the BVI team has acted as Biohaven's legal adviser since its incorporation, advising on its IPO in 2017 as well as other funding arrangements and continues to advise the company on its corporate matters.

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<![CDATA[Maples Group Recognised at European Hedge Fund Services Awards for 10th Year Running]]>
Notably, the firm has the largest UK-based offshore funds practice in London and also offers the broadest jurisdictional offering to clients with Cayman Islands, British Virgin Islands, Jersey and Irish practising lawyers based in London. The team is a clear market leader and proudly acts for 17 of the top 20 European Hedge Funds Managers.  

The Group has been operating in Europe for over 20 years having established its London office in 1997 and continues to grow its presence in the region. In addition to London, the Group has other well-established European offices in Dublin, Jersey, Luxembourg and the Netherlands offering time zone convenient access to market leading legal, fund, fiduciary, regulatory and compliance services as well as entity formation and management services.

"We are delighted to be recognised once again at the HFM European Service Awards.  This award is a testament to the hard work of our exceptionally talented team and demonstrates the trust, confidence and loyalty that clients have in both the quality of our services and calibre of our lawyers" commented Harjit Kaur, Partner and head of the London Funds & Investment Management practice. 

The HFM European Services Awards highlights leading European hedge fund providers who have demonstrated exceptional client service, innovation and strong and sustainable business growth over the past 12 months.
 
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<![CDATA[Maples Group Named Standout Firm in Chambers High Net Worth Guide]]> Maples and Calder, the Maples Group's law firm, is delighted to announce that it has once again been included in the latest edition of the Chambers High Net Worth Guide marking the firm's fifth consecutive inclusion since the guide's launch in 2016.  Described as "one of the biggest names" in the private client and trust industry, the firm was one of only two firms with offices in the Cayman Islands to receive a Band One ranking along with the most individuals ranked for the jurisdiction.

The continuous recognition highlights the strength of the firm's expertise in the private wealth and international trusts industry with sources describing the firm as having "a lot of clout in the Caribbean" and "a standout firm".

The firm maintained its Band One ranking while Partners, Morven McMillan, Ray Davern and Of Counsel, Maxine Bodden continued to be placed in leading positions. A welcome new addition in this year's guide was Associate, Alex Way who was recognised in the Foreign Experts Based Abroad category.

Morven McMillan, Partner and head of the Trusts & Private Client team in the Cayman Islands retained her ranking as a Leading Individual within Band One.  Lauded by one source as "a top name in the market who commands great respect" while a legal expert added "she is incredibly established" and "she is the absolute standout.

London-based Partner, Ray Davern continues to be ranked as a Foreign Expert Based Abroad. One market insider remarked, "you can really tell he is a top-level barrister by background as he has excellent technical knowledge and is always very up to date on developments around the world" with a wealth adviser confirming "he has terrific legal knowledge."

Of Counsel, Maxine Bodden was ranked as an Up-and-Coming Individual where she was praised as "one of those lawyers who keeps on top of things and nothing gets past her" while others noted that she "is exclusively private client and has lots of experience in pure trust work. She is creative when it comes to structuring and trust formation."

London-based Associate, Alex Way is a well-deserved new addition to the Foreign Experts Based Abroad category. Market insiders commended him as "very switched on, on the ball and very good technically as well" and that "he is a real up-and-coming figure and makes a good team with Ray, but is also very good in his own right."

Chambers High Net Worth ranks top lawyers and law firms for international private wealth. The guide covers private wealth management work and related specialism in key jurisdictions around the world, featuring in-depth editorial about the leading professional advisers to wealthy individuals and families in each market.

 
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<![CDATA[Maples Group European Expansion Continues with the Growth of its London Office]]> The Maples Group is pleased to announce the appointment of six new lawyers to its London office, further demonstrating its commitment to growing its presence in the UK and Europe.  The Group has been operating in London for over 20 years and its London office continues to be a strategic location, serving as an important European hub for its international client base.  With a global footprint of 18 offices worldwide, the Group's European offices include Dublin, Jersey, London, Luxembourg and the Netherlands with over 700 of its 2000+ team members based in the region.

London Law Firm Developments

Through the Group's law firm, Maples and Calder, it provides full service legal advice from London on the laws of the British Virgin Islands, the Cayman Islands, Ireland and Jersey.  With the ever-increasing demand for time-sensitive, multilingual and jurisdiction-specific legal advice, the firm has continued to seek out the best talent in the city and invest in key personnel to join its growing network.  

The firm recently hired six new Associates across its Funds & Investment Management and Finance practices in London, with the new lawyers practising British Virgin Islands ("BVI") and Cayman Islands law.  Of course, the Group does not have to look very far when it comes to recruiting top talent and consistently offers career-progressing opportunities to its lawyers and professionals within its global network.  In addition to the six new recruits, and among the recent transfers to the London office, is Dispute Resolution & Insolvency Of Counsel, Christian La-Roda Thomas, who relocated from the Group's Cayman Islands office to provide on the ground support in London.  Other notable moves include Christian Firth, an Associate previously based in Dublin who has relocated to London to join the firm's expanding Irish practice.

In the current market, the firm has been busy supporting clients as they examine how best to navigate the current market conditions.  In particular, the firm's Funds & Investment Management and Finance practices have experienced significant growth as clients rely on the Group's industry leading experts for advice and support.  Having been promoted to head of the London Funds & Investment Management team last year, Partner Harjit Kaur has been instrumental in shaping and developing the practice, ensuring that the team is fully equipped to navigate the regulatory changes and challenges the industry faces.  Notably, her specialist expertise was recently commended in the 50 Leading Women in Hedge Funds Report, a global report that highlights women in leadership in the hedge funds industry.  The Group's London Funds & Investment Management team remains the largest UK-based offshore funds group in London and the recent additions to the team further consolidate the firm's market leading position.

The London Finance practice led by Partner Jonathan Caulton acts for almost all of the major financial institutions in all types of BVI, Cayman Islands and Jersey finance, structured finance and capital market transactions, including asset and project finance, real estate finance, fund finance, listings, securitisations, repackagings and derivatives transactions.  

The new joiners to the London law firm include:

• Oliver Quarmby, Associate, Funds & Investment Management (Cayman Islands practice)
• Jessica Jiang, Associate, Funds & Investment Management (Cayman Islands practice)
• Sophie Whitcombe, Associate, Funds & Investment Management (Cayman Islands practice)
• Heather Murray, Associate, Funds & Investment Management (BVI and Cayman Islands practices)
• Sam Burford-Yeo, Associate, Funds & Investment Management (Cayman Islands practice)
• Ana Lazgare, Associate, Finance (BVI and Cayman Islands practices)

Commenting on the recent appointments and London's growing importance to the Maples Group's global network, Heidi de Vries, London office Managing Partner of the Group's law firm said, "With the current uncertain geopolitical environment, today's announcement reaffirms the Maples Group's commitment to growing its business here in London.  The continued growth of our European offices over the past few years is the result of our long-term international investment strategy, established to better serve our clients.  Our London lawyers and professionals are currently busy supporting clients who are navigating the current market challenges and our comprehensive service offering here in London enables us to provide a seamless end-to-end service to clients."

In addition to the developments in the Group's law firm in London, it has also strengthened its fund and fiduciary service capabilities and continues to experience increasing demand for its services in London and throughout Europe.  

Growth of London Fiduciary Team 

The Group's fiduciary business in London, led by Senior Vice President, Sam Ellis, has grown considerably in size since it launched its London offering in 2016, having recruited an additional seven experienced professionals to support servicing clients.  The team continues to focus on providing corporate and fiduciary services to UK companies, limited liability partnerships and structured finance vehicles, as well as providing UK facilities agent services to Irish and Luxembourg UCITS.  In addition, as the investment fund world becomes more complex and the regulatory landscape presents an ever more challenging environment, there has been strong investor-driven demand for the highest standards of governance.  The Group’s fiduciary services team provides independent directors, with expertise across sectors and strategies, to both alternative investment funds and underlying portfolio companies, including those from many of the world’s most prestigious investment managers, overseeing the actions of the manager and those of the service providers to provide the requisite guidance and support.  Its specialist structured finance team has decades of experience in providing corporate services to UK securitisation vehicles, asset financing SPVs and bespoke financing entities, benefiting from its extensive global footprint.  The Group’s responsive and hands-on approach to both governance and corporate services has proven particularly valuable to clients in the current market as they face disruptions and challenges from COVID-19.

London Fund Services Team Update

Appointed in 2019 as Director of Business Development for the fund services team in Europe, Edwin Parker has bolstered the team’s expertise and expansion across Europe.  Increasing consolidation and instability across the fund administration market has enabled the Group's funds services team to solidify its position as a trusted and stable service provider with more than US$100 billion in assets under administration.  Further underscoring this is a commitment to acting as a true extension of a fund manager’s day-to-day operations, providing a high-quality service that can be customised to address their specific needs.  This approach is backed by a robust technological infrastructure that delivers an optimal balance of best-of-breed core systems and bespoke proprietary solutions that enable the business to be dynamic in responding to clients’ needs as they evolve.  The business is further supported by MPMF Fund Management (Ireland) Limited, the Group’s Central Bank of Ireland ised AIFM and UCITS management company, which provides solutions to support EU marketed funds to comply with new and extensive isation and ongoing operational and transparency requirements.  

"With a global network that spans the world’s major international financial centres, the Maples Group provides a comprehensive suite of fiduciary and fund services that is tailored to meet clients' complex and multi-jurisdictional needs," said Scott Somerville, CEO of the fiduciary, fund, entity formation and management and regulatory services businesses of the Maples Group. "Given the current market environment, efficiency has become more important than ever and we are proud of our ability to deliver client-focused and service-driven solutions that drive results and afford clients a level of assurance that the various matters we support are effectively addressed and work is executed to the highest standards. As a result of this approach, we continue to see a significant demand for our services in London as well as across all of our global locations.

 
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<![CDATA[Maples Group Supports Fountainhead Partners Industry-Leading FoHF]]> 请点击此处查看此新闻稿简体中文版本

The Maples Group is pleased to support Fountainhead Partners ("Fountainhead"), a Hong Kong-based multi-family office, as administrator of the Fountainhead Alternative Vehicle ("FAV"), a US$285 million fund of hedge funds ("FoHF") with an estimated YTD return of 33% which should squarely place it as the top FoHF globally this year. 

Having supported Fountainhead since 2016, the Group's fund services business provides a full range of administration services to FAV, including fund accounting, investor services, and AEOI and AML compliance support.  Its customisable approach, robust technology and infrastructure, coupled with the expertise and experience of its team in working with sophisticated family office clients were key elements in Fountainhead's decision to engage the Maples Group and the high quality service and support that has been delivered has further solidified the relationship. 

Fountainhead invests its own capital and takes a diligent approach to manager selection, with a specific focus on managers in the Asia Pacific region.  The founders of Fountainhead are all industry veterans and native Mandarin and English speakers and place a particular focus on managers with an ability to demonstrate independent thinking and that bring a unique perspective and strong investment philosophy.  In addition, FAV managers bring a different source of alpha to avoid overconcentration, control exposure and ensure maximum risk control.  As a result of this approach, FAV counts 15 funds in its portfolio with 85% of the managers Asia-based and has delivered an annualised return of 16% since its January 2017 inception.  As of 30 June 2020, its fund administrator calculated YTD return is 24%. 

"2020 has proven to be a major stress-test year for hedge fund managers and has served as a good marker for separating good managers and manager selectors from so-so managers and manager selectors," said Harry Pang, Founding Partner of Fountainhead.  "In this respect we have increasingly recognised the value and performance that Asian managers can deliver with their focus on the entire investible universe and reasonable fund sizes and are pleased with the superior risk-adjusted returns FAV has seen.  As some investors are losing interest in the pedestrian hedge fund returns over the past years, we believe FAV's performance injects some excitement to the industry and proves that good hedge fund returns are still possible, and the source is in Asia.  As we grow, we are proud to have a longstanding partner like the Maples Group which delivers consistent efficiency to our operations that drives real business results."

"Our engagement with Fountainhead and the performance of FAV is a testament to the growth of the hedge fund market in Asia and the demand for the superior performance Asian managers are delivering," said Eastern Fong, Regional Head of Fund Services - Asia for the Maples Group.  "We  appreciate our partnership with Fountainhead and look forward to supporting their next phase of growth and evolution as FAV undoubtedly solidifies its position as one of the top performing FoHFs."

 
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<![CDATA[Maples Group Recognised in 2020 Finance Dublin Awards]]> Maples and Calder LLP, the Maples Group’s law firm, is pleased to have been recognised once again in the Finance Dublin Deals of the Year 2020.  The law firm received awards in both the Loans & Financing and Innovative Financing categories in relation to its role on a multi-jurisdictional aviation matter and an Irish social housing project as follows: 

  • Loans & Financing, Social Housing: RediResi Imez Limited and RediResi Isen Limited; and
  • Innovative Financing: SMBC Aviation, GAEL Aviation Equity Fund.

A multidisciplinary team led by Banking Partner, Sarah Francis advised RediResi on the completion of the senior and mezzanine debt financing for the purposes of financing the social housing project in order to meet 20% of the Irish Government's national delivery target in 2020 for leasing. Sarah was supported by the firm’s Banking, Corporate, Real Estate and Tax practices.

The SMBC Aviation, GAEL Aviation Equity Fund was the first aviation equity fund for Japanese institutional investors that SMBC Aviation Capital has launched. The law firm acted as Irish and Cayman Islands Counsel in relation to the establishment of a Cayman Islands fund and Irish leasing platform invested into by multiple Japanese investors. London-based Asset Finance Partner, Donna Ager, was the lead lawyer on this transaction and was assisted by Nick Evans (Corporate Partner, London), Finn O'Hegarty (Corporate Partner, Cayman Islands) and Niall O'Mahony (Asset Finance Associate, Dublin).

The Banking and Projects & Construction teams also acted on two of the shortlisted deals in relation to their role advising UDG Healthcare on the investment grade financing with a syndicate of Irish banks and for advice given to the funders of the Macquarie bidding consortium on Ireland’s social housing bundle 1 public private partnership (PPP) project, Comhar Housing Limited. 

Managing Partner of the Group's law firm in Dublin, Nicholas Butcher commented on the award wins: "We are delighted to be honoured with these prestigious accolades which are a testament to our team of global lawyers who are committed to continuously supporting our clients with new, innovative and seamless solutions across multiple jurisdictions."

Awarded annually, the Finance Dublin Deals of the Year Awards recognise the best in class Irish corporate finance transactions and the leading legal and professional services advisers. Find out more about the award winning deals here

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<![CDATA[MPMF Expands Service Offering with Technology Enhancements]]>
Since coming into full effect, the AIFMD and UCITS directives have posed significant challenges to fund managers and investors, mandating compliance with new and extensive isation and ongoing operational and transparency requirements. With a spate of new regulation expected later this year, including additional risk reporting requirements such as enhanced liquidity stress testing, managers who are looking to establish operations and/or market their funds in the EU may require support to effectively build out local fund management activities, demonstrate adequate substance and ensure compliance with ongoing regulatory requirements. 

As clients around the globe and across a broad range of investment strategies have leveraged MPMF's solutions for local management support and the fulfillment of regulatory obligations, including compliance with the AIFMD and UCITS directive, they have also incorporated many of the MPMF platform capabilities into their in-house operational and compliance workflows. To further support the needs of these client MPMF has now implemented an industry-leading portfolio accounting system, Advent’s Geneva®, to maintain investment books of record. Geneva is a fully integrated, multi- currency, portfolio accounting system that is specifically designed to handle high trading volume and to account for complex financial instruments.

In addition, MPMF has implemented MSCI Risk Manager as a fund risk system to provide a wide range of portfolio risk analytics including investment restrictions monitoring along with exposure, leverage and Value at Risk reporting as well as portfolio and liquidity stress testing. This solution will further enhance MPMF's fund risk management oversight and will complement MPMF's existing proprietary portfolio, risk and regulatory reporting solutions.

"With a rapidly evolving regulatory environment and increasing demands from regulators, investors and managers, operational efficiency has become more important than ever," said Catherine Lane, Senior Vice President. "We are proud of our ability to marry our deep industry expertise with market-leading technology. This is a formidable combination and ensures clients can continue to confidently rely on MPMF's solutions in respect of the operation of their funds."

"Across the Maples Group, we have a proven track record in designing and implementing data management portfolio accounting and portfolio analytics for investment managers and institutional investors," said Tyler Kim, Global Head of Fund Services. "We have now further enhanced and tailored our solutions in response to our clients' evolving needs and to offer solutions that transcend typical management company deliverables and can supplement their in-house capabilities."

MPMF's flexible full-service offering is delivered by an experienced team of professionals with an in-depth knowledge of regulatory compliance, investment management, fund risk management, operational risk management, capital and financial management and distribution matters. As part of the Maples Group, MPMF also integrates with a comprehensive suite of services and expertise across legal, fiduciary, fund, entity formation and management, and regulatory and compliance services.]]>
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<![CDATA[COVID-19: Working Together to Protect Us All]]> Further to our earlier update on how the Maples Group is responding to COVID-191, we continue to follow all advice and guidelines issued from the World Health Organisation (WHO) and local governments to protect our personnel, our clients and the members of the communities where we operate.

An updated summary of the preventative measures and steps that we are taking to keep our people safe and maintain our usual high standard of client service is detailed below. These measures are being reviewed on a continual basis.

If you have more specific enquiries relating to your business, please speak with your usual Maples Group contact.

Maintaining Client Service


All of our lawyers and professionals continue to have the necessary capabilities to enable them to effectively work remotely, with secure access to relevant internal platforms, as required.

Currently most of our global teams are working remotely however some of our teams have started to return to the office in countries where the government advice and regulations allow them to do so. We anticipate that we will operate a blended working environment across many of our locations for the foreseeable future.

International Business and Personal Travel

Our travel suspension in relation to all global business travel remains in place until further notice.

Furthermore, we have revised our global policy in relation to personal travel for any team members attending the office at this time.

Meetings and Events

We have made the decision to cancel all upcoming in-person meetings and events. Many of our meetings, seminars and events are being run virtually.

Our current guidance also restricts Maples Group personnel attending client or industry meetings, events or gatherings of any size.

Maples Group Offices

While our offices remain open, we are currently requesting that clients and vendors do not attend any of our offices at this time. We are happy to discuss alternative virtual meeting and / or delivery and collection options.


1 COVID-19: What is Maples Group doing?

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<![CDATA[Maples BVI Advises on US$1.5 billion Restructuring]]> Maples and Calder, the Maples Group's law firm, is pleased to have advised the senior lenders to the Constellation Group on its global restructuring which was valued at over US$1.5 billion. The highly complex transaction took nearly two years and involved court proceedings in the British Virgin Islands (BVI), Brazil and the US, the key stages of the transaction closed in December 2019 with the final steps being implemented in July 2020. 

A multi-disciplinary team in the firm's BVI office advised on the restructuring which was supported by the successful appointment of the first ever provisional liquidators in the BVI. This transaction followed a landmark decision by the courts of the BVI and demonstrates the ability of BVI entities and credit providers to use this mechanism to preserve and protect a corporate restructuring. 

BVI-based Partner, Chris Newton who led the team on this award-winning transaction commented, "We were delighted to advise on this highly complex and novel transaction. The Maples Group's market-leading BVI team has distinguished capabilities and expertise in the restructuring space which was a key factor in assisting our clients to successfully close this deal." 

A complex and notable deal, the transaction received recognition at the IFLR Americas 2020, winning the Restructuring Deal of the Year.  

Cleary Gottlieb acted as US counsel to the lenders alongside the Maples Group.

 
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<![CDATA[The Legal 500 EMEA 2020 Recognises Maples Lawyers and Practices]]> Maples and Calder, the Maples Group's law firm, is pleased to share that The Legal 500 EMEA 2020 has recognised its lawyers and practices across its Dublin, Luxembourg and Dubai offices.

The law firm received 20 practice group placements and remarkably, 40 of its lawyers received individual recognition in this year’s edition.  11 partners received the ‘Leading Individual’ distinction within their practice area while six partners were listed as ‘Next Generation Partners’, an accolade which acknowledges newer partners who received exceptional client feedback and who had a prominent role in several significant matters. Three associates were also commended for their outstanding expertise in the fields of litigation, corporate and banking and were listed in the ‘Rising Star’ category.

Throughout this edition, clients endorsed the firm as a "responsive, progressive and commercially minded law firm".   Clients also praised lawyers for their "commercial, superb and top-notch" legal advice. 

Commenting on the rankings, Global Managing Partner, Jonathan Green, said, "This achievement is a testament to the expertise of our lawyers in the EMEA region and to their commitment to delivering excellent client service, no matter the circumstances.  We are particularly pleased to see our Luxembourg colleagues recognised in the rankings this year, reflecting the significant impact that they have made in the marketplace over the last two years.”

For over 30 years, The Legal 500 has been analysing the capabilities of law firms across the world, with a comprehensive research programme revised and updated every year to bring the most up-to-date vision of the global legal market.  Their research is based on submissions from law firms, interviews with leading private practice lawyers and feedback from over 300,000 clients worldwide.

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<![CDATA[Maples Group Enhances Offering for Private Debt and Credit Funds]]> The Maples Group has announced enhancements to its fund services offering for private debt and credit funds via integrated IHS Markit loan market data feeds that support the automated capture of key data to eliminate manual processing, streamline operations and maximise efficiency and control. 
 
With managers facing mounting pressure to outperform benchmarks and generate returns amid difficult market conditions, which include continued low interest rates and increased volatility, they are being forced to seek out new opportunities to deliver for their clients. In this respect, there has been a notable growth in the use of private debt and credit strategies. While this has served to meet the demands of investors, the complexity of these products – which may include leveraged loans, special situations and distressed debt – can create operational challenges for managers.
 
As an expert within the private debt and credit asset classes, and with specialist data management and client service teams and technology dedicated to credit fund administration, the Maples Group prides itself on delivering best of breed solutions and the highest levels of service and support. The connectivity to IHS Markit further enhances the Maples Group’s capabilities in servicing these clients and specifically allows credit activity information to be automatically incorporated into its accounting system, ultimately reducing data requirements for both managers and their service providers, streamlining the reconciliation process and expediting processing of net asset values. This can have a transformative effect on reporting and more readily provides managers with data-rich information that can prove especially valuable in navigating both the heightened volatility and opportunities the credit market presents.
 
"In my previous roles as a senior investment professional at a number of large asset allocators, I invested significant capital into a wide range of credit funds and can speak to the complexity of these strategies," said James Perry, Head of Institutional Investor Solutions. "As part of upfront and ongoing operational due diligence, it is critically important for these funds to be underpinned by a solutions provider who understands the nuances of private debt and credit products and is able to accurately and effectively provide data aggregation, accounting and reporting services."
 
"Through our collaboration, the Maples Group has established a structured data workflow with greater efficiency, cost optimization and straight-through processing across private debt and credit transactions," said Erik Woodling, managing director, Loan Platforms at IHS Markit. "As private markets continue to grow and evolve in an ever-changing world, data innovation can enable fund service providers to maintain a competitive advantage and better serve their clients, particularly in syndicated loan and direct lending strategies."
 
"Private debt and credit are unquestionably complex strategies and require specialist expertise and technology," said Tyler Kim, Global Head of Fund Services. "Since the 2008 global financial crisis, we have worked with a broad range of credit managers and investors that have trusted our ability to execute against their requirements and to enrich our middle and back office offering in line with their evolving strategies. We look forward to continuing to expand our platforms to provide our clients with market leading technology to support their operational, compliance and investment processes."
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<![CDATA[Maples Group Support Largest Hong Kong IPOs]]> 请点击此处查看简体中文版本

 

The Maples Group is pleased to announce that its Hong Kong office has acted on two high profile Hong Kong dual listings, which are expected to be among the largest offerings in the region this year. The Group's unique ability to provide Cayman Islands and British Virgin Islands legal advice through its international law firm, Maples and Calder, in addition to its ability to act as a share registrar through its funds services business, has made the Group the perfect choice for international businesses considering initial public offerings or dual listings in Hong Kong.

 

Notably, the Group's law firm acted as Cayman Islands counsel to JD.com, Inc. ("JD.com") on its recent global offering and dual listing on the Hong Kong Stock Exchange.  JD.com is the largest retail company in China by total revenues in 2019, according to Fortune Global 500 and has been listed on Nasdaq since May 2014. The offering, which closed on 18 June 2020, raised approximately HK$30.1 billion and is the largest in Hong Kong in 2020.

 

The Group's law firm also recently provided Cayman Islands legal advice on an equally significant global offering and dual listing on the Hong Kong Stock Exchange for NetEase, Inc ("NetEase"). NetEase has been listed on Nasdaq since June 2000, and is the second largest mobile game company in the world. The offering, which closed on 11 June 2020, raised approximately HK$21 billion and is currently the second largest offering in Hong Kong this year.

 

Teams based in the Group's law firm in Hong Kong advised both JD.com and NetEase. Corporate Partner, Richard Spooner, Of Counsel, Karen Zhang Pallaras and Associate, Vivian Lee acted for JD.com, while Richard Spooner and Associate, Mindy Ho acted for NetEase.

 

The Maples Group's fund services business in Asia led by its Regional Head Eastern Fong and Vice President Christy Poon, provided Cayman Islands share registrar support to both companies.

Commenting on the two successful listings, head of Maples and Calder's Corporate Practice in Asia, Matt Roberts said, "Hong Kong continues to be a leading destination for dual listings, IPOs and other public offerings, attracting major international companies and investors, and we were delighted to assist our clients, JD.com and NetEase with their recent dual listings. These listings are very positive for the region and set Hong Kong on course to becoming the global IPO leader again this year."

These deals are the latest in a long line of public offerings, both in Hong Kong and the United States, where the Maples Group has been selected for its comprehensive capabilities and expertise by clients in a wide range of sectors, including the technology, online gaming, telecommunications, biotechnology, pharmaceutical, medical and education sectors.

Skadden, Arps, Slate, Meagher & Flom acted as Hong Kong and US counsel and Shihui Partners acted as PRC counsel respectively to JD.com, whilst Clifford Chance acted as Hong Kong and US counsel and Han Kun Law Office acted as PRC counsel respectively to the underwriters, Merrill Lynch, UBS and CLSA.

Skadden, Arps, Slate, Meagher & Flom acted as Hong Kong and US counsel and Zhong Lun Law Firm acted as PRC counsel respectively to NetEase, whilst Davis Polk & Wardwell acted as Hong Kong and US counsel and JunHe LLP acted as PRC counsel respectively to the underwriters, CICC, Credit Suisse and J.P. Morgan.

 

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<![CDATA[Maples Group Advises United Airlines on US$6.8 Billion Financing Plan]]> Maples and Calder, the Maples Group's law firm, is pleased to have advised United MileagePlus, United Airlines' loyalty programme, on the Cayman Islands legal aspects of both its recent US$3.8 billion bond offering and its concurrent US$3 billion term loan which closed on 2 July 2020.

Asset finance Partner, Sherice Arman led a multi-disciplinary team of lawyers from the firm's corporate, finance, IP, data protection and trusts practices on this transaction. Cayman Islands based-Partners Abraham Thoppil, Tim Dawson and Finn O'Hegarty, and Of Counsel Shari Howell, Nick Herrod and Maxine Bodden, acted as Cayman Islands legal advisers. 

The sizeable bond offering and loan facility will be used to refinance United Airline's existing bridge facility and provide working capital and liquidity for the United Airlines group.

Maples and Calder worked closely alongside Kirkland & Ellis who advised United MileagePlus on US legal matters, while Mayer Brown acted as US counsel to the lead arranger, Goldman Sachs.

"We were delighted to advise on this unique structure that has enabled United Airlines to borrow against its loyalty card programme Mileage Plus and boost the airline's finances. This is a challenging time for the aviation industry and this cash injection will support and benefit the airline in the long term," commented Sherice Arman.

"The Maples Group's global aviation team has distinguished capabilities and expertise in the aviation industry, advising clients on multi-jurisdictional transactions. In this matter, our aircraft finance team leveraged our deep bench of banking and finance, corporate, intellectual property, data protection and trusts specialists to assemble a market-leading team with the expertise to successfully close this transaction." said Scott Macdonald, partner and the firm's Global Head of Finance. 

 
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<![CDATA[COVID-19: What is Maples Group doing?]]> Please note this update has been revised as at 20 March 2020

The Maples Group has comprehensive, jurisdictionally specific, pandemic plans in place.

With offices in 18 locations and multiple time zones around the world, the Maples Group is positioned to ensure business continuity for our clients.  Our robust and reliable Business Continuity Plan enables us to leverage resources from other locations, where necessary, resulting in little to no impact to client service.  

We are continuing to follow advice from the World Health Organisation (WHO) and local governments, all of our global teams are now substantively working remotely or fully working remotely, as appropriate, allowing us to continue to service our clients' needs effectively.

As this is a unique situation, the Group has issued new guidance and protocols to all personnel globally to keep our people safe and maintain client service. A summary of the preventative measures and steps that we are taking is detailed below.

If you have specific enquiries relating to your business, please speak with your usual Maples Group contact.

Remote Working Capabilities

We have implemented remote working protocols across all of our global offices, our lawyers and professionals have the necessary capabilities to enable them to effectively work remotely, with secure access to relevant internal platforms, as required.

Business Travel

The Group has imposed a travel suspension for all global business travel until further notice. Furthermore, the Group is adhering to self-isolation guidelines and other advice issued by the WHO and relevant governing bodies in all jurisdictions in which we operate.  

Personal Travel

All personnel returning from any international location are required to contact HR for further advice before attending the office.

Meetings and Events

Overseas Events

With our global travel suspension, we will be facilitating overseas meetings and events with the assistance of virtual meeting providers.

Maples Group Offices

If you are due to attend a meeting at one of our offices, we ask that you please read the following information before attending:

We ask that you do not attend any such meetings if you have been to, or knowingly been in contact with, anyone who has been infected in the past 14 days, or if you feel unwell. We are happy to discuss alternative meeting options.

If you experience the relevant symptoms after attending an event at one of our offices or after having met with any of our people, please let your Maples Group contact know so that we can inform our own people and fellow attendees in an appropriate manner.

Future Updates

We continue to assess the impact of this situation on a daily basis and are monitoring closely the advice given by the ities. We will provide further updates to this page.

 

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<![CDATA[Maples Group Luxembourg Expands to New Location]]>
The Group has been firmly established and prominent in Luxembourg since 2007, offering fund and fiduciary services initially and later adding legal services to its offering. Today, it has become widely regarded as an organisation of choice with an experienced and highly capable team.

The beautifully refurbished offices will combine all of the Group's Luxembourg services under one roof. Conveniently located less than five minutes from the main motorways leading to bordering countries, France, Germany and Belgium, the new location will greatly enhance cross-border commuting for employees, as well as allowing easier access for clients. A dedicated Client Business Centre will also be available to the Group's fiduciary clients, with 23 individual offices available to lease from June 2020.

With a global footprint of 18 locations worldwide, cross-jurisdictional referrals are inevitably driving business growth for the Group in Luxembourg however its team has also taken on a number of new clients, which is a testament to the calibre of lawyers and professionals focused on providing exceptional service in the region.

Commenting on the new offices, Johan Terblanche, Managing Partner of Maples and Calder (Luxembourg) Sarl, the Maples Group's law firm said, "We are delighted to have found a new office location in the Cloche d'Or business district. As clients examine how best to maintain and enhance their European operations, we continue to experience an increasing demand for our local and global services here in Luxembourg, driving the need for additional space to grow our teams to continue to service those clients efficiently. The Maples Group is proud to employ over 100 lawyers and professionals in Luxembourg and we are committed to growing our business here."

Speaking to the Maples Group's offering in Luxembourg, Tom Davies, Regional Head of Maples Group's Fiduciary Services in Europe added, "Luxembourg and our European offices which include Dublin, Jersey, London and The Netherlands, continue to be a strategic priority for the Maples Group and enable us to provide seamless, time sensitive services to our global client base. Having all of our offerings based in the same location in Luxembourg will foster even better collaboration and enable us to continue to provide innovative solutions to our clients."

The Maples Group has over 2000 employees globally and has recently adopted a similar strategy of moving to a single location, where possible, at a number of its international locations which include its Hong Kong, Jersey and London offices.
 
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<![CDATA[Maples Group Announces Strategic Appointments at Six Offices]]>
The newly elected Partners, Niamh O'Shea and Ronan Cremin are members of the Group's Dublin Fund & Investment Management team that were recently recognised as the leading Irish legal advisers to Irish-serviced funds.

The Group's new Of Counsel include Aisling Burke in Dublin, Maxine Bodden and Stephen Watler in the Cayman Islands, Gurminder Sanghera in Dubai, Karen Zhang Pallaras in Hong Kong and Christian La-Roda Thomas in London.  These appointments further strengthen a number of the firm's global core practice areas including Corporate, Dispute Resolution & Insolvency, Finance, Funds & Investment Management and Trusts & Private Clients.

Over the last twelve months, the Group has made a number of strategic internal appointments and tactical secondments demonstrating the range of career-progressing opportunities available within its global network. Among the recent secondments is James Kinsley, a Partner in the Group's Singapore office, who has been seconded to its Dublin office to work as part of the Irish Aviation team over the next six months. James’ secondment is part of the continued global expansion of the Group's Irish law aviation practice, which will enable its Singapore office to offer Irish legal aviation capabilities to clients in Asia, together with its existing Cayman Islands and BVI law offering. Other notable moves include Anna Whaley, an Associate previously based in London who has now relocated to its Cayman office to join the Group’s expanding Regulatory team.   

"I would like to congratulate our new Partners and Of Counsel on their appointments which is a reflection of their dedication to provide exceptional client service and exemplary expertise within their specialist practice areas," commented Jonathan Green, Global Managing Partner. He added, "These recent promotions along with other strategic appointments enhance the Group's mandate to deliver the highest level of service that our clients can continue to expect and trust from an international group of our calibre." ]]>
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<![CDATA[Maples Group Ranked as Top Funds Legal Adviser for 7th Year Running]]>
Monterey Insight is a leading independent fund industry research company that provides the only comprehensive statistical analysis of service providers for all investment funds serviced in Ireland, the UK, Luxembourg, Jersey and Guernsey.

Peter Stapleton, partner and head of the Funds & Investment Management team in the Group's Dublin office commented on the results: "We are delighted to be ranked as the top law firm in Ireland for the seventh year in a row. 2019 was a challenging year for fund formations with Brexit and other macro factors causing considerable market volatility and uncertainty, so it is quite remarkable that the number of Irish-serviced funds we advised on continued to grow against that backdrop".

He continued: "As we embark on the 2020s, it is timely to reflect on the decade gone by and note that the number of Irish-serviced funds that we have advised on has increased by 122% since 2010. In addition to this, I am proud that we have significantly diversified to be not only the clear market leader on fund product innovation, advising on almost 30% of all new Irish domiciled sub-funds in 2019, but also the leading Irish practice for investment management company isations. In the last year alone, we assisted a large number of blue-chip clients on establishing operations in Ireland, leading to over €75 billion in AUM transitioning to Ireland. This is a huge achievement which is unsurpassed by any other firm in the Irish legal market and would simply not have been possible were it not for the very talented team of lawyers at the firm and of course, all of our clients which we are very privileged to work alongside. We look forward to working with these clients in the coming years across all of our global offices.”

This recognition further highlights the Group's reputation as a leading adviser to the global funds industry. In addition to advising on new and innovative products, the firm also acts for nine of the top 10 European Hedge Fund Managers, according to Institutional Investor's Hedge Fund 100.

Find out more about the Funds & Investment Management team here.
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<![CDATA[Maples Group Hong Kong Office Move]]> We are pleased to inform you that Maples and Calder (Hong Kong) LLP and Maples Fiduciary Services (Hong Kong) Limited will shortly be relocating to new offices.
 
All of the Maples Group's Hong Kong teams will now be located at Central Plaza in Wanchai's north business district in Hong Kong. The expansion to new offices will facilitate expected future growth and collaboration and also demonstrates our strong commitment to servicing our Asia Pacific clients. 
 
Effective from Monday, 24 February 2020, our Fiduciary Services team will be located at the following address:
 
Maples Fiduciary Services (Hong Kong) Limited
2701, 27th Floor, Central Plaza
18 Harbour Road
Wanchai
Hong Kong
 
Effective from Monday, 9 March 2020, our Law Firm will be located at the following address:
 
Maples and Calder (Hong Kong) LLP
26th Floor, Central Plaza
18 Harbour Road
Wanchai
Hong Kong
 
Please note that the main telephone numbers for each of the Hong Kong offices as well as all direct contact details for the Maples Group teams will remain the same.
 
Please do not hesitate to reach out to your usual Maples Group contact or one of the individuals listed below for more information or with any questions.
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<![CDATA[Maples Group Number 1 Listing Agent on Cayman Islands Stock Exchange]]>
The Group’s global listings team is an acknowledged leader in listing services with specialist teams based in its Dublin, Cayman Islands, Hong Kong, Jersey and London offices.

The Cayman Islands team impressively listed 62% of all BSL / MM CLOs listed on the CSX in 2019. The team, led by global head of finance Scott Macdonald, also advised on the first dual listing, with a Cayman Islands CLO issuer and a Delaware co-issuer listing three classes of notes on the CSX and three classes of notes on Euronext Dublin.

Commenting on the recently published results, Scott Macdonald said: "We are incredibly proud to be the number one listing agent on the CSX in 2019. We advised on a number of new and novel structures over the past twelve months and these statistics further cement our position as the market leading listing agent in the Cayman Islands."

He continued: "The Maples Group's unique ability to offer CSX listing services from multiple international locations offers clients a broad range of options suitable to their businesses in time zones convenient to them and this achievement would simply not have been possible if it were not for the very talented and committed lawyers and professionals on our global listings team and we look forward to another strong year in 2020."

There were 605 listings on the CSX in 2019 with the listing of specialist debt securities remaining the largest proportion of new listings, including CLO issuers, aircraft ABS and synthetic securitisations with the listing of PPNs remaining strong. A total of 54 CLO issuers listed on the CSX, comprising BSL / MM new issuances, refinancing and resets. This growth in new business reflects the CSX's ability to provide a proportionate regulatory environment for the streamlined and cost efficient listing of a wide range of securities for a variety of issuers and jurisdictions.

Find out more about the Maples Group's Listing Services team here.
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<![CDATA[Maples Group Proud to Support Music Programme at BVI High School]]> The Maples Group is proud to announce its support of the newly built music classrooms at Elmore Stoutt High School ("ESHS") in the British Virgin Islands.

Since the 2017 hurricanes, due to extensive damage to their facilities, ESHS has been unable to offer an abundance of extra-curricular activities. The Maples Group partnered with BVI Alliance and Unite BVI to fund the development of the new classrooms through a local community initiative identified by the Virgin Islands Recovery and Development Agency (the "RDA"). 

Over 100 students have enrolled in the popular music programme this year which was formally matriculated into the school's curriculum in 1980.

The Maples Group also sponsored the purchase of 29 new musical instruments which included 10 flutes, 10 clarinets, 5 alto saxophones, 2 tenor saxophones, 1 baritone saxophone and 1 trumpet. 

Last month, students and teachers from ESHS welcomed the arrival of the new instruments with great excitement and marked the occasion with a formal handover of the instruments to the school's Deputy Principal, Mr. Cecil Hodge and the Head of the Music Department, Andre Brathwaite.  Connie George, Chief Education officer, Dr. the Honourable, Natalio Wheatley and Minister for Education, Culture, Youth Affairs, Fisheries and Agriculture were also present at the presentation.

BVI Managing Partner of Maples and Calder, the Maples Group's law firm, Richard May attended the school's annual Christmas concert on Saturday and had this to say, "The Maples Group is passionate about supporting and developing our local communities with a particular focus on youth, education, arts and culture. We are delighted to be supporting the music programme at Elmore Stoutt High School which is a progamme that not only supports educating our youth about the importance of arts and culture but also brings our community together. We look forward to continuing to work closely with the Elmore Stoutt High School and its teaching staff on this important initiative."

The much-anticipated annual Christmas concert included performances from the Senior Concert Band, Junior Concert Band, Senior Steel Pan, Junior Steel Pan, the Jazz Ensemble and the Choir.

Commenting on the project, Paul Bayly, CEO of the RDA added, "The education system of this Territory was immensely disrupted after the 2017 hurricane and as an agency, it was important to us to deliver the Government’s priorities’ in returning the education system to a place of normalcy. We are extremely grateful that the music classrooms project supported this initiative and of course, this could not have been done without the generous support of our donors the Unite BVI Foundation, Maples Group and BVI Alliance."

The Education Minister, Honourable Wheatley who was present at the presentation of the musical instruments added, “I would also like to recognise the Maples Group for their generosity towards purchasing the Musical Instruments. The Maples Group has made it possible for the music programme to be strengthened and for that we say thank you.  I’ll also thank the RDA, the implementation agency of the Government, for the important role they played in getting the instruments to the students.”

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<![CDATA[Maples' Lawyers Lead in 2020 Legal 500 Caribbean Guide]]>
Across its British Virgin Islands and Cayman Islands offices, the firm received a remarkable number of individual lawyer rankings with 60 of its lawyers being recognised.  17 partners received the "Leading Individual" distinction within their area while nine associates were acknowledged for their outstanding expertise in the "Rising Star" category.  The firm also received 11 practice group placements with eight practice groups achieving a Tier 1 ranking.  

Throughout the guide, clients endorsed the firm as a "market leader and market-setting firm in the Cayman Islands", that is "spearheaded by senior industry figures with close knowledge of local and international initiatives", and with "extremely high-quality lawyers, with experience across a range of disciplines." 

Commenting on the rankings, Global Managing Partner, Jonathan Green, said," We are delighted that the rankings recognise our deep bench of talent and reflect the hard work, commitment and unmatched legal expertise of our lawyers within their local and global practice areas"

For over 30 years, The Legal 500 has been analysing the capabilities of law firms across the world, with a comprehensive research programme revised and updated every year to bring the most up-to-date vision of the global legal market.  Their research is based on submissions from law firms, interviews with leading private practice lawyers and feedback from over 300,000 clients worldwide.
 
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<![CDATA[Maples Group Maintains Leading Position in 2020 Chambers Asia Pacific]]>
As one of only two law firms ranked in Band 1, the firm was described as the "strong choice for Chinese clients with multiple practitioners proficient in Mandarin" and as "standout experts on Cayman Islands and BVI law with laudable strength in investment funds work." 

Remarking on the rankings, Mark Western, Managing Partner of the Group's law firm in Hong Kong said, "2019 has been a tremendous year for the Asia Pacific team and this accolade is well earned recognition on the unmatched legal expertise the teams continue to deliver to our clients across the Asia Pacific."

In addition to the law firm's Band 1 ranking, partners Ann Ng, Anthony Webster, Greg Knowles, Mark Western and Michael Gagie also received individual rankings.   In particular, Anthony Webster, who leads the firm's private equity practice in Asia, was one of only two lawyers listed as an Eminent Practitioner, which Chambers notes as highly influential lawyers in their practice area who through their managerial and client relationship commitments are key players in the team. 

These rankings follow a particularly successful year for the Group's Asia Pacific team who collected five "Offshore Firm of the Year" awards in addition to several awards for innovative client transactions.

The Maples Group's Asia offices have over 300 legal, fund services and fiduciary services lawyers and professionals based in Hong Kong and Singapore.  The Group recently announced new global leadership appointments, following its biennial elections which included the appointment of Matt Roberts as the head of the law firm's Corporate practice in Hong Kong.
 
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<![CDATA[Maples Group Honoured with Two Industry Award Wins in Asia]]> 請點擊此處查看繁體中文版本

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Maples and Calder, the Maples Group's law firm was honoured to win two prestigious awards at the annual HFM Asia Services Awards and China Offshore Awards in Hong Kong and Shanghai respectively this month.

The firm was named "Offshore Law Firm" at the 2019 HFM Asia Services Awards and "Best Foreign Firm" at the China Offshore Awards.

Commenting on the wins, Mark Western, Managing Partner of the Group's law firm in Hong Kong said, "These awards demonstrate the continued excellence of our collective teams in Asia and are a testament to our commitment to providing premier legal, fiduciary and fund services to the hedge fund and finance industries across the Asia Pacific.

The HFM Asia Services Awards recognises hedge fund service providers who demonstrate exceptional client service, innovative product development and strong and sustainable business growth over the past 12 months.

The China Offshore Awards celebrates service providers, organisations and individuals in the industry who are actively supporting and developing offshore financial services and the benefits it brings to China.

Throughout 2019, the teams collected three other "Offshore Firm of the Year" awards at the IFLR Asia Awards, Asia Legal Awards and ALB China Law Awards.
  
The recipient of several 2019 deal awards, the teams received the M&A Deal of the Year at the ALB Hong Kong Law Awards, Equity Deal of the Year and TMT Deal of the Year at the ALB China Law Awards, Equity Deal of the Year at the IFLR Asia Awards and Equity Securities Deal of the Year at the Asia Legal Awards. 

The Maples Group's Asia offices have over 300 legal, fund services and fiduciary services lawyers and professionals based in Hong Kong and Singapore. The Group's Asia Pacific team has 21 practising partners. Earlier this year, the Group opened an office in Shanghai in response to the growing client base in China.

 
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<![CDATA[Maples Advises Alibaba on Largest Hong Kong IPO]]> 请点击此处查看此新闻稿简体中文版本

Maples and Calder, the Maples Group's law firm, was pleased to advise Alibaba Group Holding Limited ("Alibaba") on its recent global offering of 500,000,000 shares and its listing on the Hong Kong Stock Exchange. The offering is the largest in Hong Kong since 2010.  The Group's Fund Services business acted as the Cayman Islands share registrar.

Alibaba is a Chinese multinational conglomerate specialising in e-commerce, retail, internet, cloud computing, digital media and entertainment, and technology.

A team based in the Group's law firm in Hong Kong acted as Cayman Islands legal counsel to Alibaba and was led by Corporate partners, Greg Knowles and Derrick Kan, and assisted by legal manager, Mindy Ho.  Eastern Fong, Regional Head of the Group's fund services business in Asia, assisted by vice president Christy Poon and her team, provided share registrar support.  The Maples Group has been working with Alibaba for over a decade, including the very notable and innovative US IPO in 2014, the largest IPO in global financial history.

Alibaba was advised by Simpson Thacher & Bartlett as to Hong Kong and US laws, and by Fangda Partners as to PRC law.  The joint sponsors, China International Capital Corporation Hong Kong Securities Limited and Credit Suisse, and the underwriters were advised by Freshfields Bruckhaus Deringer as to Hong Kong and US laws, and by King & Wood Mallesons as to PRC law.

Greg Knowles, head of the Corporate team at the Group's law firm in Asia, commented, "We are delighted to have advised our longstanding client, Alibaba, on this milestone transaction. It is always very rewarding to support our clients through various stages of development." 

 
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<![CDATA[Maples Group Expands Cayman Fiduciary Services Team]]> The Maples Group, a leading service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, has announced the appointment of a number of strategic hires to its team in the Cayman Islands. Luana Guilfoyle, Nicolas Rogivue, Sonja Salmon, Nadish Seebaluck, and Linval Stewart have joined as Vice Presidents within the Maples Group’s fiduciary services team to provide specialist services to a broad range of structured finance transactions and special purpose vehicles.

With no sign of any slowdown in the pace of regulatory change and compliance obligations continuing to grow, it has become critical for arrangers and investment managers to engage the necessary support to address this new paradigm. Recognised as one of the industry’s preeminent service providers, the Maples Group’s fiduciary services business has maintained a commitment to growing a team with the requisite experience and expertise to effectively support clients and provide the highest standards of professional service.

As a qualified Chartered Accountant from Canada, Luana has over 14 years of experience in the Cayman Islands’ financial services industry, having served on the boards of various Cayman domiciled hedge funds, investment management companies, special purpose vehicles and private equity structures. She focuses on a wide range of structured finance products, in particular, CLOs / CDOs, structured note issues and programmes. Previously, she was a Principal in the investment services department of a specialised trust and corporate services provider and held the role of Group Manager at a global fund administrator managing several strategic relationships for its clients.

Nicolas brings a depth of experience in the provision of directorship and trustee services, as well as experience as a debt capital markets lawyer in the UK. He has supported a range of structured finance transactions, including a significant number of cashflow and synthetic CLO / CDOs, securitisations and note programmes in both the US and European markets. Previously he worked at a global investment bank and financial services company focused on global transaction banking, trust and agency services.

Sonja brings over 15 years of experience in the financial services industry in various roles relating to mergers and acquisitions, commercial transactions and risk management. She also brings a depth of legal experience and is a qualified lawyer admitted to practice in Ontario and Bermuda. Previously, she was a Director of Strategy and Business Planning for Canada Pension Plan Investment Board and was involved in various strategy/operations consulting projects. She also served as General Counsel and Chief Risk Officer for a global bank in Bermuda.

Nadish has an extensive background in financial services with various roles in fund accounting and administration, trust accounting and corporate secretarial services. He has worked for a large multi-national financial services company and bank, as well as an alternative asset and corporate services provider where he gained significant experience overseeing a portfolio of funds in the private equity sphere.

Linval previously worked within the Maples Group’s fund services business where he administered various investment fund structures, from vanilla strategies to highly sophisticated and complex investments. Prior to that, he had extensive experience working for large global accounting firms where he focused on hedge funds, banks, and insurance and manufacturing companies.

"These individuals, with unique backgrounds and skillsets across the financial services spectrum, bring an exceptional breadth and depth of knowledge and experience," said Andrew Dean, Senior Vice President. "We have made continuous investments in growing our bench of professionals and look forward to these additions further strengthening our already well-established reputation for providing the highest levels of tailored service and support, and bolstering our ability to provide clients with the specific expertise they demand."

"One of our key differentiators is the size and strength of our bench. This was invaluable during the credit crisis and today’s evolving regulatory landscape and growing compliance requirements are again creating a more complex environment for fiduciaries ," said Guy Major, Global Head of Fiduciary. "We are delighted to be able to welcome these experienced and talented individuals who further enhance our diverse skill set and depth of knowledge.”


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<![CDATA[Maples Group Recognised by Bloomberg for its Expertise in International Tax]]> Three partners from Maples and Calder, the Maples Group's law firm, have been recognised by Bloomberg Tax & Accounting in their 2019 awards for international tax.

Andrew Quinn, Lynn Cramer and Will Fogarty who are based in the Group's law firm in Dublin received the International Tax Contributor of the Year award for their outstanding work on the Bloomberg Tax Ireland Country guide. The guide is part of Bloomberg's repository of expert analyses of tax systems worldwide.

The awards, which recognise leading s in international tax, were presented during the recent International Fiscal Association Congress in London.

Andrew Quinn, partner and head of the Dublin Tax team at Maples and Calder accepted the award on behalf of the team.  Andrew commented, “We are honoured to receive this prestigious award from Bloomberg Tax & Accounting. Global tax and regulatory changes continue to come at a rapid rate and resources such as the Bloomberg Ireland Country Guide are hugely beneficial for businesses to help address the many developments and support in navigating the ever changing international tax landscape."

Lynn Cramer, tax partner at Maples and Calder and of the guide also added: “We are proud to be recognised by Bloomberg Tax & Accounting who we highly regard as a leading tax news, analysis, and research organisation. We look forward to continuing our close working relationship in the near future.”

This award follows closely behind Lynn Cramer's recognition by Euromoney Legal Media Group as a "Rising Star Ireland".

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group.

 
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<![CDATA[Maples Group Maintains Top Tier Global Rankings in IFLR1000]]> IFLR1000 has released its 2020 financial and corporate law rankings and Maples and Calder, the Maples Group's law firm, has achieved top tier rankings across its international offices. 

The Group's law firm has maintained its Tier 1 position throughout the legal directory again this year securing top spots for nine practice groups across eight of its locations.  The firm continues to achieve high rankings in both practice group and individual lawyer categories, with 56 global lawyers recommended in the directory this year. 

Notably the Group's law firms in Jersey and Luxembourg also achieved rankings this year which is testament to the impression both teams have made in their respective jurisdictions.

The rankings recognise the law firm as 'consistently excellent' and published client feedback across the firm's global client base.  Providing 'unparalleled quality advice', clients praised lawyers for their 'outstanding expertise and tremendous client service'.

Global Managing Partner of Maples and Calder, the Maples Group's law firm, Alasdair Robertson commented on the rankings: "We are delighted to once again receive this recognition amongst other highly regarded international law firms. I am incredibly proud to read so many positive client testimonials this year, which illustrates our lawyers' dedication to achieving excellence and providing top notch legal advice across the globe."

The IFLR1000 has been producing legal market intelligence since 1990 and remains the only international legal directory dedicated to ranking law firms and lawyers on the basis of financial and corporate transactional work.

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<![CDATA[The Maples Group Celebrates 2000 Employee Milestone]]>

 

Maples Group, a leading global service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, marked a very important milestone in its more than 50 year history, having recently welcomed its two thousandth member of staff.

Reaching the 2000 employee milestone is a testament to the Group in how it continues to evolve as a leader in the legal and professional services industry, providing top tier expertise and advice with deep sectoral and industry knowledge across its worldwide offices. In addition to comprising the largest law firm among its peers and market-leading fiduciary and fund services, Maples Group is widely recognised for its legacy of excellence and consistently holds leading standings in international directories and leading industry ranking tables.

Alasdair Robertson, Global Managing Partner of Maples and Calder, the Group's law firm, commented: "2019 has certainly been a memorable year for us. In addition to reaching this milestone, opening our Shanghai and Jersey offices following the successful launch of our Luxembourg legal practice, we also rolled out a complex rebrand." 

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called Maples Group, bringing together their internationally recognised services to address demand from clients for a complete and seamless service unique to the industry.

Speaking to the rebrand, he added, "Our journey has taken considerable time, dedication and hard work by all of our colleagues and I am very proud to be a part of this remarkable evolution. This rebrand reflects our clients' desire to use us across multiple business lines and time zones with the assurance of a seamless service. Otherwise, there has been no change in the management or ownership structure and we continue to be one of the largest independently owned organisations of our kind." 

Over the last twelve months, Maples Group has opened new offices in Abu Dhabi, Bermuda, China, Jersey and Luxembourg, demonstrating its strong commitment to servicing a multinational client base and choosing locations that facilitate time zone efficiencies and enable a seamless, multilingual service. The Group strives to foster a culture that values diverse perspectives and currently employs 76 nationalities globally, affording clients multilingual and culturally tailored capabilities. Furthermore, the Group demonstrates this commitment by creating inclusive and supporting working environments that foster the conditions necessary for employees to thrive.

"We thank all of our clients and colleagues around the globe for helping us to achieve this momentous occasion. As the Group continues to expand, we are always looking for new talent to join our global teams," said Scott Somerville, CEO of MaplesFS, the fiduciary, fund, entity formation and management, and regulatory services businesses of Maples Group. "We recognise that our people are our greatest assets and we are committed to providing the resources and support necessary to ensure both personal and professional fulfillment.  We expect to continue to experience significant growth across many of the markets in which we operate and are excited to see our global offering continue to expand as our clients' needs evolve.” 

 
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<![CDATA[Maples Partner a Rising Star at European Awards]]>
The awards celebrate rising star lawyers across 20 different practice areas from 19 European countries. A "Rising Star" according to the publication, is defined as a lawyer under the age of 40. 

Lynn Cramer is a partner based in the Dublin office at Maples and Calder, the Maples Group's law firm. Lynn commented: "It is a privilege to win this award and an honour to be recognised by Euromoney Legal Media Group among a number of very high calibre lawyers. I would like to thank my peers in the legal profession for their nominations."

Andrew Quinn, partner and head of the Dublin Tax group at Maples and Calder added:  "We are delighted that Lynn has received this prestigious international award. We have one of the leading legal tax practices in Ireland and this recognises the quality of our people".

Lynn Cramer joined the Group's law firm in Dublin in 2011 and was appointed to partner in January 2019. She is a qualified solicitor in Ireland and an associate of the Irish Tax Institute with significant experience advising investment funds, securitisation companies and multinationals. 

The Europe Awards were presented at a ceremony at The Bulgari Hotel in London on Thursday, 7 November 2019. 

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group.
 
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<![CDATA[Maples Group Relocates Two Senior Litigators to London]]> The Maples Group is pleased to announce the relocation of two of its senior Dispute Resolution and Insolvency lawyers from its British Virgin Islands and Cayman Islands offices to London. 
David Welford, Of Counsel and a senior member of the BVI Dispute Resolution and Insolvency team and Christian La-Roda Thomas, Of Counsel* and a key member of the Cayman Islands team since 2014 will relocate to the London office at the end of 2019. 

David and Christian will continue to play senior integral roles within the Group's existing BVI and Cayman Islands teams while also working with the wider London team and its newly appointed Managing Partner, Heidi de Vries.

Commenting on the appointments, Heidi said, "I am delighted to welcome David and Christian to the London team. Their many years of experience acquired in the BVI and Cayman Islands will help us to continue providing time sensitive and practical help to our clients and contacts in London and across Europe."

Aristos Galatopoulos, Global Head of the Dispute Resolution & Insolvency practice added, "We congratulate David and Christian on their new roles in our London office. We are delighted to be in a position to offer these opportunities which represent a significant step in their careers."

The Maples Group provides clients with a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services from its 18 offices worldwide and has been operating in London for over 20 years. These appointments further demonstrate the Group's focus on growing its presence in Europe. In 2018, the Group extended its law firm offering to Luxembourg and Jersey and also launched its fiduciary, entity formation and management services offering in Jersey.

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group.
 
*effective from 1 January 2020
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<![CDATA[Maples Awarded for Groundbreaking Deal at IFLR Middle East Awards]]> The Maples Group is pleased to announce that it has once again been recognised at the 2019 IFLR Middle East awards that were held at the Burj Al Arab earlier this month. The awards which attract over 180 market participants and legal practitioners celebrate the most influential corporate finance deals over the past 12 months.  
 
Maples and Calder, the Maples Group's law firm was part of the team who received the award for Debt and Equity Linked Deal of the Year. 
 
The deal which was described as a 'first-its-kind' was in relation to NMC Healthcare's sukuk and represents the first public capital markets transaction from a healthcare provider in the MENA region and the first USD denominated sukuk by a healthcare provider globally. NMC Healthcare is the largest private healthcare company in the UAE and ranks amongst the top three fertility service providers in the world.
 
A team based in the Group's law firm in Dubai provided Cayman Islands counsel to NMC Healthcare and was led by partner Manuela Belmontes, assisted by associate, Gurminder Sanghera.
 
Tahir Jawed, Managing Partner of the Group's law firm in Dubai, said: "We are delighted to accept this prestigious award which is testament to our commitment to continuously support our clients with new and innovative solutions."
 
Maples and Calder advised on a total of 7 deals which were nominated for this year’s awards, including 4 out of the 7 deals in contention for the Debt and Equity Linked Deal of the Year, a further acknowledgement to its standing in the region as a top tier law firm.
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<![CDATA[Maples Group Adds Independent Director to Fiduciary Services Team]]> Kim Bishop as a Vice President and independent director within the fiduciary services team in the Cayman Islands.

Kim brings over 15 years of experience in the financial services industry with a focus on legal services, governance and fund administration. She was most recently a fund administration manager for a large global financial services and investment management firm, providing fiduciary and administration services to a large portfolio of institutional trusts operating as investment funds. She also worked in investment banking as an analyst in debt capital markets transaction management. She was also previously a member of the finance practice at Maples and Calder, the Maples Group's law firm. She received a Bachelor of Laws from Otago University and is admitted as a barrister and solicitor in New Zealand. She is also an Accredited Director Member of the Institute of Chartered Secretaries and Administrators and a member of the Cayman Islands Directors Association.

The addition of Kim comes on the heels of continued growth of the Maples Group’s fiduciary services business globally which has thrived as a result of the sustained focus on corporate governance by both institutional investors and regulators and demand for greater independent oversight in the investment fund sector. In her role she will serve as an independent director on a wide range of alternative investment funds including hedge funds, fund of funds, segregated portfolio companies, private equity vehicles and related structures.

"As investors continue to become more sophisticated and regulatory scrutiny grows, the need for enhanced oversight and the implementation of governance solutions has become increasingly critical," said Peter Huber, Global Head of Fiduciary. "We are happy to welcome Kim to the team and are confident that her broad experience and unique perspectives will be highly advantageous to our clients in this ever-evolving and often challenging environment."
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<![CDATA[Maples Group Expands Leading Regulatory Expertise]]> In response to the increased volume of local and global regulatory laws, Maples and Calder, the Maples Group's law firm, is pleased to announce the recent expansion of its global Regulatory group currently comprised of 18 lawyers in five locations, including the Cayman Islands and the British Virgin Islands.

With immediate effect, Chris Capewell has been appointed as Head of the Cayman Islands Regulatory group and will oversee the practice group's operation and business development strategy.  Chris brings a wealth of tax knowledge to the practice group with several years as a tax lawyer at leading international onshore law firms, including Clifford Chance (London) and Clayton Utz (Sydney).  In addition, Chris has more than 12 years of transactional experience as an investment funds and corporate lawyer advising many of the world's leading financial institutions.  Chris is currently regarded as one of the jurisdiction's leading advisors on FATCA, the OECD Common Reporting Standard and the OECD's Base Erosion and Profit Shifting initiative.  Chris is based in the Cayman Islands and was elected as a partner in 2013.

Of Counsel, Dave Sherwin, will also transition to the Regulatory group, with immediate effect, working closely with Chris and other members of the Group, including partners, Tim Dawson and Hugo Lodge, and consultant, Martin Livingston.  Dave has extensive transactional experience having worked as an investment funds lawyer for several years.  Dave also has a strong relationship with the Cayman Islands Monetary ity and various industry associations frequently consulting on jurisdictional legislative and policy changes.

Additionally, Martin Byers will be joining the Group in October as a dedicated regulatory lawyer, supporting its BVI law practice.  Martin previously worked at the UK Financial Conduct ity, Sidley Austin and Goldman Sachs.

"In response to the demands of a rapidly evolving regulatory landscape, we are delighted to be able to better assist clients with continued growth of our specialist Regulatory group," said Alasdair Robertson, Global Managing Partner of the Group's law firm.  "We are pleased that Chris and Dave have agreed to take on their respective roles.  The restructuring of our Regulatory group offers our clients an even higher quality of service as we aim to bridge the gap between pure regulatory advice and transactional advice, which we see as being complimentary rather than standalone specialist areas."

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised offerings to address demand from clients for a complete and seamless service to the industry.

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<![CDATA[Three Maples Partners Named Among 50 Leading Women in Hedge Funds]]> The Hedge Fund Journal recently released its 2019 50 Leading Women in Hedge Funds report, naming some of the world's highest rated individuals.  Among the prestigious list of industry experts, three partners from Maples and Calder, the Maples Group's law firm, were honoured: Gwyneth Rees, Harjit Kaur and Heidi de Vries.

Now in its seventh year, the report highlights women leading all verticals in hedge funds, allocators to hedge funds and associated service providers.  The report features portfolio managers, C-suite roles, general counsel, HR professionals, sales, marketing and business development professionals and investor relations professionals.

Notably, Gwyneth was the only Cayman Islands-based lawyer named in the report, while Harjit and Heidi's inclusion follows closely their recent promotions as co-head of the firm's London Funds & Investment Management team and Joint Managing Partner of the London office, respectively.

Gwyneth, Heidi and Harjit join fellow partner, Jo Cunningham, who received the accolade in 2015.

The Maples Group strives to foster a culture that values diverse perspectives and is committed to creating an inclusive and supportive working environment.  The Group is proud to have a workforce of nearly 60% women represented in each part of the business and has memberships to professional development organisations, such as 100 Women in Finance and the 30% Club.

"We are extremely proud of Gwyneth, Harjit and Heidi and their inclusion in this prestigious report," commented Jon Fowler, Global Head of the law firm's Funds & Investment Management practice.  "This inclusion is testament to the calibre of their legal expertise in the funds industry and is a well-earned recognition."

In celebration of the 2019 recipients, Hedge Fund Journal planned two events, one on 19 September at the Cotillion Room at the Pierre in New York and the other on 24 September at the Avenue in London.

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised offerings to address demand from clients for a complete and seamless service to the industry.

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<![CDATA[Maples Associate a Rising Star in Trusts and Private Client Industry]]> Legal Week has identified Cayman Islands Trusts & Private Client lawyer, Maxine Bodden, as a "Rising Star" in its Private Client Global Elite Directory 2019.  An associate at Maples and Calder, the Maples Group's law firm, Maxine specialises in advising leading banks, trust companies and private individuals on the establishment and ongoing administration of Cayman Islands trusts, including unit trusts, pension and employee benefit trusts and charitable trusts. 

The prestigious directory identifies the premier trusts and private client lawyers around the world and has recognised members of the Maples Group since the directory re-launched in 2017, including partner and head of the law firm's Trusts & Private Client team, Morven McMillan, who was honoured in 2017, 2018 and 2019.  This continued inclusion endorses the Group's ability to provide unmatched legal advice within the industry. 

"I am delighted to have been included in such an esteemed publication that recognises some of the world's highly regarded trusts and private client professionals," commented Maxine Bodden.  "I want to extend congratulations to all nominees on this great achievement."

Maxine is the Chair of the STEP Council and a member of the Legislative Sub-Committee of STEP in the Cayman Islands and of the Caribbean and Latin America Regional Committee of STEP.  She is also Chair of the Public Policy Committee of the Caribbean and Latin America Regional Committee of STEP. 

Maxine's inclusion in Private Client Global Elite also follows closely behind her recent recognition as an "Associate to Watch" in Chambers High Net Worth Guide. 

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<![CDATA[Maples Group Supports First US CLO Employing a Cayman Islands LLC]]> The Maples Group was pleased to support the Issuer and the Co-Issuer on the Cayman Islands and Delaware, legal, listing and fiduciary aspects of its middle market collaterised loan obligation ("CLO").  The deal, which priced on 13 August 2019 at $US 501 million, was arranged by Natixis and had a novel legal structure, as it was the first ever US CLO transaction to employ a Cayman Islands LLC as its issuer. 

 

The Maples Group's law firm, Maples and Calder, led by Finance partner, James Reeve and associate, Jonathan Brown, acted as Cayman Islands legal adviser to the Issuer and also advised the Issuer and the Co-Issuer in respect of their listing of the debt securities on the Cayman Islands Stock Exchange.  Fiduciary services to both the Issuer in the Cayman Islands and the Co-Issuer in Delaware were also provided by the Maples Group's fiduciary team, led by Nicolas Rogivue in the Cayman Islands and Jeffery Everhart in Delaware.

 

The Issuer and the Portfolio Manager were advised by Dechert in the US. Natixis was advised by Allen & Overy and the Collateral Trustee, Loan Agent and Collateral Administrator were advised by Seward & Kissel.

 

Mark Matthews, Global Head of Finance at the Maples Group's law firm, commented: "We are very pleased to have been able to assist our longstanding client Bain Capital in closing this novel transaction, which exemplifies the Maples Group's comprehensive CLO offering, where we have the ability, through our international business offering, to provide innovative global legal, listing and fiduciary services for all aspects of a CLO manager's business."

 

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised services to address demand from clients for a complete and seamless service unique to the industry. The synergies between the law firm's global finance practice leveraged by the funds and fiduciary business lines ensures that the Maples Group are one of the few international organisations that can seamlessly service clients across multiple major global financial markets with a robust 'one-stop shop' for complex finance transactions.

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<![CDATA[Maples Group Expands Shipping Expertise with Strategic Hires in Asia]]> 请点击此处查看此新闻稿简体中文版本

The Maples Group is pleased to announce the expansion of its global Shipping team with a number of strategic hires in Asia.

Jonathan Silver joins the Maples Group's Hong Kong office as a partner and brings nearly 20 years' experience in the fields of shipping, banking and finance, having previously led the Shipping Group at Norton Rose Fulbright for the North Asia region, where he also co-led the Republic of Marshall Islands law practice.

Jonathan will lead the Group's Asia Shipping team, providing British Virgin Islands, Cayman Islands and Marshall Islands legal advice, entity formation and fiduciary services to our clients worldwide. The team will work closely with Sherice Arman, partner and head of the Shipping team in the Group's Cayman Islands office.

Jonathan's vast experience covers shipping finance and other shipping matters, including loans, leasing, private equity, sale and purchase, building contracts, charter parties, guarantees, joint ventures, pooling and management. He also has substantial experience advising on general banking and finance transactions, such as unsecured lending, working capital loans and structured trade and commodity finance. Jonathan is proficient in Mandarin Chinese and speaks conversational Cantonese. Jonathan is also a Notary Public appointed in Hong Kong.

The expansion includes the hiring of lawyers Rachel Wong and Maggie Wang and fiduciary services expert Edwin Lo.

Managing Partner of the Hong Kong office and Global Head of Asset Finance, Mark Western, said, "We are delighted to welcome Jonathan and team to the Maples Group. We believe their combined extensive experience in the shipping industry, deep market knowledge of Asia, and Marshall Islands legal expertise will complement our existing global capabilities and enable us to offer a broader service to our clients in the region."

Commenting on his appointment, Jonathan Silver said, "I am very excited to join the Maples Group where I will have the opportunity to work with the Group's international client base across shipping, finance, entity formation and fiduciary matters. I look forward to joining a prestigious global partnership and using my experience to develop the Group's global shipping practice."

Global Managing Partner, Alasdair Robertson, added, "These appointments further demonstrate our commitment to provide our Asian clients with a world class service in a wide range of industries."

The Maples Group's Asia offices have over 300 legal, fund services and fiduciary services lawyers and professionals based in Hong Kong and Singapore. Jonathan is the second new partner to join the Group's Asia Pacific team this year, where they now have 21 practising partners. Earlier this year, the Group opened an office in Shanghai in response to the growing client base in China.


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<![CDATA[Maples Group Jersey Expands to New Office Location]]> The Maples Group is pleased to announce that due to the growth of its business in Jersey, it has relocated its law firm, Maples and Calder (Jersey) LLP and its fiduciary and corporate services teams, Maples Fiduciary Services (Jersey) Limited, to a new office location at Sir Walter Raleigh House in St.Helier.

The new five storey offices at Sir Walter Raleigh are bright and modern and occupy a prominent landmark position at the western end of the Esplanade, the prime office address in St.Helier, overlooking the Esplanade and waterfront beyond. Jersey International Finance Centre is located a short walk away and neighbouring offices include a wide range of financial and professional services firms.

The Maples Group, a global service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services has 18 offices worldwide and added Jersey to the map in the latter half of 2018.

Having leased its current space a little more than a year ago, the Group's new Jersey base is nearly 5,000 square feet which compared to its current office location is over double the size leaving room for further expansion.

Commenting on the new office, Chris Byrne, Managing Partner of the Maples Group's law firm, Maples and Calder (Jersey) LLP, said: "We are very grateful to our staff and clients who have helped us reach this milestone so quickly. The expansion to a new space will serve to facilitate expected future growth in Jersey."

Senior Vice President, Cleveland Stewart who relocated to Jersey from the Group's Cayman Islands office added, "Our collaborative approach to combined legal and fiduciary services offering continues to enable us to create best-in-class solutions for our clients. The move to our new office location also further demonstrates the Maples Group's ongoing dedication to having a solid and enduring presence in Jersey."

The Maples Group employs over 2000 employees globally and has doubled its resources in Jersey since opening late last year, the Jersey office expects to add further positions to their teams by 2020.

Maples and Calder (Jersey) LLP provides full service Jersey legal advice in the corporate, finance and funds and investment management areas. Regulated by the Jersey Financial Services Commission, Maples Fiduciary Services (Jersey) Limited provides full fiduciary, entity formation, corporate administration services to corporate investment holding companies, limited partnerships and other types of entities.

The team have been involved in a number of landmark private equity transactions this year for both new and existing sponsor clients of the Group, in addition to financing and asset manager instructions.

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised offerings to address demand from clients for a complete and seamless service to the industry.

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<![CDATA[Ascot Fund Ruling]]>  
Fund's principal asset was its limited partner interest in a Delaware partnership, Ascot Partners L.P. ("Partners"). Partners invested all of its assets with BLMIS through which Madoff ran his Ponzi scheme. When BLMIS collapsed Partners, directly, and Fund, indirectly, lost their investments. Following distributions from BLMIS and possible future distributions, Partners had a substantial amount of money to distribute to its investors. A New York receiver (the "Receiver") had been appointed over Partners' assets. A shareholder of Fund (the "Shareholder") was concerned that any distribution methodology used by Fund would be less favourable than a New York court may adopt. The Shareholder commenced an action in the New York Supreme Court seeking, among other things, a declaration as to the distribution methodology that Fund should utilise (arguing that the methodology should be New York law based).  The Shareholder was attempting to use New York proceedings to end run around the Cayman Islands liquidation.
 
Finding that Fund's centre of main interests was in the Cayman Islands (as its headquarters and management had at all times been in the Cayman Islands) the US Bankruptcy Court rejected the Shareholder's arguments. The Shareholder should not be able to avoid the effect of a Cayman Islands liquidation by commencing proceedings before the New York court. The Shareholder had invested in a fund incorporated in the Cayman Islands whose articles of association and subscription agreements were governed by Cayman Islands law. Further, each investor agreed to submit to the exclusive jurisdiction of the Cayman Islands courts in relation to the subscription agreement and disputes in relation thereto. Therefore, while Delaware or New York law would determine how the Receiver would distribute Partner's assets to Fund, Cayman Islands law would determine how Fund's assets would be distributed to its shareholders. This was consistent with Fund's documents and the expectation of its shareholders. These factors militated in favour of the Bankruptcy Court acceding to the request from one of the Cayman Islands liquidators, Michael Penner of Deloitte, that those Cayman liquidation proceedings should be recognised in the US pursuant to chapter 15 of the US Bankruptcy Code. From the perspective of investor certainty in Cayman Islands funds, the approach of the Bankruptcy Court is to be welcomed.
 
The Maples Group team is led by partner James Eldridge and associate Malachi Sweetman, acting as Cayman Islands counsel to the Fund. Davis Polk & Wardwell LLP act as New York counsel for the Fund.
 
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<![CDATA[Maples Group Appoints New Managing Partner to its Law Firm in London]]> The Maples Group's law firm, Maples and Calder, is pleased to announce the appointment of Heidi de Vries as the Managing Partner of its London office. Heidi will take office on 1 December 2019, succeeding Paul Govier who is retiring from the firm. Paul joined the firm 17 years ago and will continue to support the London office in a consultancy capacity until November 2020.

With immediate effect, Heidi will assume the position of Joint Managing Partner, working alongside Paul Govier and will take on the role of sole Managing Partner from 1 December 2019.

Heidi is widely recognised as a leading Cayman Islands and British Virgin Islands lawyer and has extensive investment funds' expertise along with strong management experience, having previously held the position of Managing Partner at another firm. Heidi joined the firm in 2012 and specialises in the structuring, formation, ongoing maintenance and restructuring of hedge funds and private equity funds. Her portfolio of clients include large financial institutions as well as boutique and start up managers. Heidi was recently named as a leading woman in Hedge Funds by the Hedge Fund Journal and will be the first woman to be appointed as Managing Partner of the Group's law firm in London.

Joining Heidi in a leadership capacity, Harjit Kaur has been appointed as head of the Funds & Investment Management practice in London. Harjit joined the firm in 2007 as a member of the Funds & Investment Management team where she specialises in the establishment and maintenance of all kinds of alternative investment funds in the Cayman Islands. She advises numerous leading European fund managers and their onshore counsel on the formation, ongoing legal and regulatory compliance, restructuring and termination of different types of Cayman Islands investment vehicles, including hedge, hybrid and private equity funds. Harjit also regularly advises clients on a broad range of corporate and commercial transactions, including shareholder arrangements and regulatory matters such as AML, FATCA and CRS compliance.Over the next few months, Harjit will work closely with Paul Govier to drive the practice forward.

The Maples Group, a global service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services has 18 offices worldwide and has been operating in London for over 20 years. The London office serves as an important European hub for the Group's international client base by providing full service legal advice on the laws of the British Virgin Islands, Cayman Islands, Ireland and Jersey. It also provides fiduciary, fund, regulatory and compliance, and entity formation and management services

Newly appointed joint Managing Partner of the London law firm, Heidi said, "I am delighted to have been elected as Managing Partner of our law firm in London. It is a privilege to have the opportunity to lead the London team and I hope to build on Paul's leadership, steering the law firm steadily into the next decade. London, along with other European cities is facing into a period of uncertainty, we will continue to provide a seamless service to our clients who are operating in this changing and challenging environment."

Commenting on the appointments, Global Managing Partner, Alasdair Robertson added, "We are delighted that someone of Heidi's experience and calibre is to become Managing Partner of our London law firm. Heidi has been an outstanding partner in our Funds & Investment Management team. Her appointment is an endorsement of her personal qualities and professional ability. We have no doubt that the London office will continue to thrive under her collaborative leadership. Harjit's appointment to a leadership position also enhances and strengthens our leadership team in London. Harjit has worked in our Fund & Investment team in London for over a decade and has developed a stellar reputation both internally and with clients."

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised offerings.


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<![CDATA[Maples Group Expands Fiduciary Services Team in Dubai]]> Olena Mykhailenko as a Vice President in Dubai.

Ms. Mykhailenko brings more than a decade of experience working in the legal and corporate services industry and has vast experience in offshore and onshore company formation, domiciliation, tax residency, corporate secretarial and fiduciary services across DIFC and ADGM regulated financial entities, as well as Cayman Islands, British Virgin Islands and Singapore fund structures. She also brings additional private wealth structuring knowledge, including trusts, foundation vehicles, personal holding companies and family offices. She was most recently working for a global trust, fund administration and corporate services provider and, prior to that, held various roles with local Middle Eastern and international law firms. She received a Masters of Laws from East Ukrainian Volodymyr Dahl National University.

The Maples Group offers a comprehensive suite of legal, fiduciary and fund services to clients based in or doing business in the Middle East. Since 2005, the Dubai office has prided itself on having a finger on the pulse of the region and has realised significant growth by catering to the needs of the local market. Furthermore, the Maples Group leverages its collective expertise and extensive global network to provide a high-quality service that can be customised to address clients’ specific needs. As a result of this approach, the Maples Group’s business in the Middle East continues to thrive and now counts more than 50 on-the-ground staff members and is the market leader in terms of DIFC entities under administration. Ms. Mykhailenko will be based in Dubai and will work closely with Norbert Neijzen, Regional Head of Fiduciary – Middle East to support existing clients and facilitate opportunities for future growth.

"An ever evolving regulatory landscape is putting more pressure than ever before on our clients who are demanding on the ground support of the highest standards," said Neijzen. "We continue to see significant demand for our fiduciary and corporate services offering in the Middle East and are confident that our broad capabilities, coupled with Olena’s experience and expertise will be highly advantageous to our ongoing efforts."
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<![CDATA[Maples Group AIFM and UCITS Management Company Services - Update]]> MPMF Fund Management (Ireland) Limited (“MPMF”), the Maples Group’s Central Bank of Ireland ised UCITS management company and alternative investment fund manager, has announced a change to its structure. Effective 26 July 2019, MPMF, which was previously a joint venture with Paul Phelan and Philip McEnroe, is wholly owned by the Maples Group, a leading service provider offering clients a comprehensive range of legal services on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, and an independent provider of fiduciary, fund, regulatory and compliance, and entity formation and management services.

Since coming into full effect, the Alternative Investment Fund Managers Directive (“AIFMD“) and the Undertakings for the Collective Investment of Transferable Securities (“UCITS“) framework have posed significant challenges to fund managers and investors, requiring EU-based funds to comply with new and extensive isation, ongoing operation and transparency requirements. Furthermore, a number of more recent industry developments, including Brexit and the introduction of increased substance requirements, have been major drivers of activity in Europe.

MPMF provides comprehensive solutions for alternative investment and UCITS funds via an experienced team of professionals with extensive experience in risk management, finance, operations, regulatory and compliance matters. Our flexible full-service offering includes two approaches, both of which provide local management and fulfilment of all regulatory requirements, alleviating operational burdens and allowing fund managers to focus on their core competencies:

  • The hosted model, whereby the Maples Group will be appointed as the AIFM and / or UCITS manager; and
  • The delegation model whereby the Maples Group provides designated persons to provide functional support to a client’s own AIFM, UCITS management company, internally managed IAF or self-managed UCITS.

"MPMF has an established legacy of working collaboratively with the Maples Group and this change in its ownership affords us greater strategic and operational oversight to ensure the continued delivery of a service offering of the highest standards," said Scott Somerville, Chief Executive Officer. "We remain confident in our ability to capitalise on opportunities in the market and look forward to further evolving and growing our AIFM and UCITS management company services offering."

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<![CDATA[Maples Group Maintains Leading Position in Chambers High Net Worth]]> The Maples Group is pleased to announce that it has once again been recognised in the latest edition of the Chambers High Net Worth Guide. Renowned as a 'leading firm', the Maples Group's law firm was the only law firm within this year's guide to achieve a Band One ranking at both a firm and individual level.

These accolades are a continued testament to the Group's strength and expertise in the private wealth and international trusts industry with sources describing the firm as 'top of the market' and 'a top-tier firm in the offshore world.'

In addition to the law firm's Band One ranking, partners Morven McMillan and Ray Davern and associate Maxine Bodden maintained their top rankings this year. 

Morven McMillan, partner and head of the Trusts & Private Client team in the Cayman Islands, was ranked as a Leading Individual within Band One. Interviewees described her as 'the number one expert for Cayman work' and noted her 'easy manner, her attention to detail, her acute awareness of the file are her best attributes.' 

London-based partner Ray Davern was once again recognised as a Foreign Expert Based Abroad and was praised as 'Absolutely superb and has the knack for bringing all his academic knowledge and understanding onto practical legal matters and identifies exactly what clients need.  He has a unique combination of detailed technical knowledge while also being very pragmatic.' A fellow practitioner stated he is a 'very bright trust lawyer.'

Ranked under the category of Associate to Watch, Maxine Bodden was commended by her peers, 'she is very smart, very personable and knows both the Cayman market and the Cayman legal system from back to front.' An interviewee acknowledged her as 'a go-to person of succession and estate matters. She knows succession law backwards.  She is the first person I'd recommend on island on the estates side.'

Chambers High Net Worth ranks the top lawyers and law firms for international private wealth. The guide covers private wealth management work and related specialism in key jurisdictions around the world, featuring in-depth editorial about the leading professional advisers to wealthy individuals and families in each market. 

 
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<![CDATA[Maples Group Selected to Support Groundbreaking Indo-Japan Fund]]> 日本語版を見るにはここをクリックしてください。

The Maples Group, a leading service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, has announced that it has been selected to provide Cayman Islands legal advice and trustee, management company, fund administration and directorship services to Indo-Japan Emerging Technology & Innovation Fund (the "Fund").

The Fund will invest substantially all of its assets into Indo-Japan Emerging Technology & Innovation AIF (the "FoF"), a US$187 million fund-of-funds managed by Reliance Nippon Life Asset Management Ltd (RNAM), the Indian asset management arm of Nippon Life. The Fund will be offered in Japan to Japanese institutional investors.

The FoF is the result of a joint initiative between Japan’s Ministry of Economy, Trade and Industry and India’s Ministry of Commerce and Industry and has just been announced at the G-20 this week. The unique strategic intent of the Fund is to combine the core strengths of both countries to provide large investors with access to source ideation and technology, as well as to provide a platform for collaboration and strategic investment in start-ups. The FoF expects to manage a portfolio of 15 to 25 India-focused venture capital funds investing in technology start-ups in emerging fields, including the internet of things, artificial intelligence, machine learning, fintech, healthcare, consumer, education, robotics and automation and business-to-business software.

The Maples Group’s Japanese Funds practice has market-leading experience in structuring private equity type unit trusts, supporting the delivery of a seamless solution tailored to the unique needs of the Fund which will be structured as a Cayman Islands private equity type unit trust. The Maples Group team is led by Hong Kong partner, Nick Harrold and Regional Head of Fund Services-Asia, Eastern Fong and is supported by an extensive team of lawyers and fund and fiduciary services professionals in both Hong Kong and the Cayman Islands.

"The launch of the Fund is reflective of a progressive trend in the market whereby an increasing number of Japanese institutional investors are seeking exposure to alternative investments, typically through the private equity type unit trust structure," said Harrold. "The Fund represents an important evolution in the structure as it is able to accommodate a large number of investors, and multiple closings, whereas earlier iterations of the structure were essentially limited to only one or two investors coming into the fund on a single closing. This additional flexibility is likely to mean that alternative investments will become even more accessible to Japanese institutional investors."

The Maples Group’s comprehensive offering combines local and global expertise. With offices in 18 locations worldwide and over 350 lawyers and professionals based in Hong Kong, China and Singapore, the Maples Group is ideally placed to act for Asia Pacific-based clients on multi-jurisdictional transactions.

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised offerings.


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<![CDATA[Maples Group Wins Three Finance Dublin Deals of the Year]]> Our Asset Finance, Banking and Corporate teams in Dublin have been awarded three 2019 Finance Dublin Deals of the Year. The team were recognised in the following categories: 

Debt Capital Markets - Venture Capital: Nuritas debt financing;

- Financial Services Aviation Finance - M&A Aviation Finance: ORIX Acquisition of 30% Stake in Avolon; and

- Aviation ABS: Kestrel Aircraft Funding Limited and Kestrel Aircraft Funding USA, LLC. 

Find out more about the award winning deals here

 

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<![CDATA[Maples Group Appoints Edwin Parker as Director of Business Development in Europe]]>
Mr. Parker brings over two decades of experience working with alternative and institutional asset managers and asset owners across Europe, as well as extensive knowledge of front and back office services and systems. He was most recently a Managing Director for a global investment management and investment services provider, responsible for all business and relationship development in EMEA. Prior to that, he held various senior positions with other large global fund administrators with a focus on sales and marketing management and strategic and operational planning in the EMEA region. He received a Bachelor of Arts (Honours) in Business Information Management and French.

The addition of Mr. Parker comes on the heels of continued growth of the Maples Group’s fund services business. Leveraging the group’s collective expertise, global footprint and award-winning technology, the Maples Group provides clients with high-quality service that can be customised to address their specific needs. As a result of this approach, the Maples Group’s fund services business now counts more than US$98 billion in assets under administration and continues to build its portfolio of hedge fund, private equity and institutional investor clients. Mr. Parker will be based in London and will work closely with Christina McCarthy, Regional Head of Fund Services - Europe, to drive the growth of the fund services business across greater Europe, as well as working closely with colleagues across the Maples Group globally.

"An ever evolving regulatory and investor landscape is putting more pressure than ever before on fund managers to optimise their operational processes and we remain committed to evolving our service offering to address their needs," said McCarthy. "We continue to see significant demand for our fund services offering in Europe and are confident that our broad capabilities which include the design and delivery of innovative solutions, coupled with Edwin’s experience and expertise will be highly advantageous to our ongoing efforts."
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<![CDATA[Maples Group Welcomes British Virgin Islands Commercial Court Appointments]]> Maples Group welcomes the recent appointments of both Mr. Gerhard H. A. Wallbank and Mr. Adrian Jack as High Court Judges of the Eastern Caribbean Supreme Court Commercial Division in the British Virgin Islands.

 

Justice Wallbank previously held a number of temporary appointments as a Justice of the BVI Commercial Court.  Maples Group is pleased with his return to the territory for a long-term appointment of a period of three years with effect from 14 October 2019.

 

Welcoming the appointments, Dispute Resolution & Insolvency partners, Adrian Francis and Alex Hall Taylor, said:

 

"The workload of the BVI Commercial Court is considerable, consisting of fast-moving high quality international litigation, insolvency and restructuring cases.  With these appointments, the territory is further strengthening the able bench and the reputation of the Commercial Court as an effective international tribunal.  in particular, we welcome the consistency and stability brought by the return to longer-term appointments reflected in the three year appointment of Justice Wallbank."

 

The BVI Commercial Court can hear cases from any of the nine member jurisdictions of the Eastern Caribbean Supreme Court and specialises in cross-border and high value commercial, company, trusts, asset tracing and insolvency law matters.

 

The Maples Group's British Virgin Islands office provides full service dispute resolution, insolvency, restructuring and commercial advice on matters of British Virgin Islands law to financial, institutional, business and private clients both locally and internationally, as well as specialised regulatory and compliance and entity formation and management services.

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<![CDATA[Maples Group Recognised for Four Airfinance Journal Awards]]> The Maples Group's global Asset Finance team has been recognised at the 2019 Airfinance Journal Awards for its involvement in four award-winning Deals of the Year.

The team was involved in providing advice in the deals that won in the following categories:

  • Overall Deal of the Year – for advice provided to Avolon, in relation to ORIX Corporation's acquisition of a 30% stake in the company from Bohai Capital; 
  • North America Deal of the Year – for advice provided to Zephyrus Aviation Capital on the launch of its $366.6 million Zephyrus Capital Aviation Partners 2018-1 Ltd;
  • M&A Deal of the Year – for advice provided to Goshawk Aviation on its acquisition of Irish lessor Sky Aviation International from the Public Sector Pension Board; and 
  • Lessor Unsecured Bond Deal of the Year - for advice provided to HNA Group-owned lessor Avolon on the Cayman Islands and Irish aspects of its private offering of $1 billion Rule 144A 5.125% senior notes due 2023.

The Maples Group's Asset Finance team is comprised of legal and fiduciary experts across offices in the British Virgin Islands, the Cayman Islands, Dubai, Dublin, Hong Kong, London and Singapore.

Global Head of the Asset Finance group, Mark Western commented on the award-wins: "We are extremely proud to be recognised once again for our work on high profile and innovative international transactions such as these. It further demonstrates our ability to provide first class legal advice and fiduciary services in this area, and the successful execution of these deals would not have been possible without the exceptional team of aviation experts at the Group, and of course the support of our loyal and trusted clients."

Other team members involved in the winning deals were: Donna Ager, Sherice Arman, Barnabas Finnigan, Shari McField, Jonathon Meloy, Anthony Philp and Mary O'Neill. Rory Conway, Julian Dunphy and Gareth Rowe provided fiduciary and administration services to Goshawk on its acquisition of Irish lessor Sky Aviation International from the Public Sector Pension Board (M&A Deal of the Year) and Philip Hinds and Edmund King provided fiduciary and administration services to Zephyrus Aviation Capital on the launch of its $366.6 million Zephyrus Capital Aviation Partners 2018-1 Ltd (North America Deal of the Year).

The Airfinance Journal's Deal of the Year Awards were announced at the awards dinner held on 2 May 2019 in New York.


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<![CDATA[Maples Group Adds Two Independent Director Hires to Fiduciary Services Business]]>
The intense focus on corporate governance by both institutional investors and regulators has resulted in significant demand for greater independent oversight in the investment fund sector. Recognised as the industry’s preeminent specialist provider of independent directors, the Maples Group’s fiduciary services business has made a series of strategic hires to enhance its offering in this area. Benoit (Ben) Sansoucy and Colin Nestor will both serve as independent directors, based in the Cayman Islands, providing specialist fiduciary services to a broad range of alternative investment vehicles and bringing deep industry expertise to the Maples Group team.

With over 15 years’ experience in the alternative investment industry, including positions with a number of major institutional investors in Canada, Mr. Sansoucy is an ity on matters of operational due diligence, enterprise risk management and compliance. Among these roles, he was responsible for the implementation and execution of the University of Toronto Asset Management’s operational due diligence program, with oversight of all external managers and service providers. Mr. Sansoucy also has a strong background in fund administration, having previously headed the internal control function at Fortis Prime Fund Solutions in the Cayman Islands. In addition, he is a Chartered Professional Accountant, Chartered Accountant and a member of the Chartered Professional Accountants of Ontario.

Mr. Nestor joins the team from MPMF Fund Management (Ireland) Limited, a Central Bank of Ireland ised Alternative Investment Fund Manager (AIFM) and UCITS Management Company that is part of the wider Maples Group. He has broad portfolio and investment management experience alongside high-level expertise with EU regulation. Previously, Mr. Nestor worked as a fund consultant for an investment management firm managing various funds including derivative and real estate strategies and he was formerly part of the JP Morgan administration team in Dublin. He also holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

"With investors requiring more robust oversight and legal and regulatory obligations becoming increasingly complex, there is significant demand for independent directors that can provide tailored governance support that assists the funds that we serve best meet their objectives," said Peter Huber, Global Head of Fiduciary Services. "Both Ben and Colin bring deep technical expertise that is highly relevant to the challenges faced by boards in the current climate and we are delighted to add them to our growing team."
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<![CDATA[Maples Group Advises Vista Del Mar Development Ltd]]> Maples Group's legal services team led by partner Mac Imrie and associate Gemma Freeman successfully defend an appeal brought before the Judicial Committee of the Privy Council (the "Privy Council") in Francis and Anor (Appellants) v Vista Del Mar Development Ltd (Respondents) (Cayman Islands).1

The Maples Group acted for long standing client, Vista Del Mar Development Ltd.

The appeal arose in the context of Vista Del Mar Development Limited's successful application for specific performance of an option to repurchase land under a contract to develop a building plot.  It concerned the consequences that arise if an option holder delays in exercising its option rights (or its rights under a new bilateral contract arising on the exercise of an option) and the circumstances surrounding any delay. 

In affirming the rulings of the Cayman Islands Grand Court and Court of Appeal, the Privy Council confirms the applicable law with respect to the effective exercise of options: (i) an option will only be effectively exercised if exercised in strict conformity with its terms; (ii) where parties have not provided a specified time within which to exercise an option, it must be exercised within a reasonable time (being a question of fact to be determined in light of all the circumstances); and (iii) where an option gives the right to acquire land, its exercise as a matter of law fundamentally changes the relationship between the parties such that the option holder becomes a purchaser and in equity the owner of the property (United Scientific Holdings Ltd v Burnley Borough Council [1978] AC 904 and Shaw v Foster (1872) LR 5 HL 321).  

The ruling also discusses late amendments to pleadings, which are possible where it does not require the Board to make new findings of fact or apply any new principles of law already considered by the local lower courts. 


https://www.jcpc.uk/cases/jcpc-2017-0074.html

 

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<![CDATA[Maples Group Advises On Largest Tech Acquisition Deal in UAE]]> /en/News/Announcements/2019/04/Maples-Group-Advises-On-Largest-Tech-Acquisition-Deal-in-UAE/en/News/Announcements/2019/04/Maples-Group-Advises-On-Largest-Tech-Acquisition-Deal-in-UAE<![CDATA[Maples Group Announces New Partners and Of Counsel]]>
The newly elected partners are located within three of the Group's 18 global locations and include Tim Dawson, Finn O'Hegarty and Luke Stockdale in the Cayman Islands; Lynn Cramer, Philip Keegan, Mary O'Neill and Aaron Mulcahy in Dublin; and James Kinsley in Singapore.  

The Group's new of counsel include David Welford and Guy Williamson in the British Virgin Islands,  Shari McField and Ann-Marie Teehan in the Cayman Islands, Juno Huang in Hong Kong and Julia Cornett and Robert Hughes in London.  

With over 1900 legal and professional staff globally, these latest appointments further strengthen the Group's mandate to deliver the highest level of service, within all areas of practice, including its core areas of practice: Funds & Investment Management, Finance, Corporate, Dispute Resolution & Insolvency and Tax. 

"I would like to congratulate our new partners and of counsel on their appointments across our global offices, which are a direct response to the growing demand we are seeing for our ability to provide top tier legal advice blended with deep sectoral and industry knowledge," commented Global Managing Partner, Alasdair Robertson. 

"Each of these lawyers is a talented, dedicated professional, committed to delivering exceptional client service," he added. "We are delighted to announce this next stage in their careers and look forward to their continued success."
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<![CDATA[Partner Developments at Maples Group in Dublin]]> The Maples Group's legal services division in Dublin is pleased to announce the appointment of five partners including a new Head of Employment. Commenting on these partner developments, Managing Partner of the Dublin office, Nicholas Butcher said: “These partner appointments demonstrate the strong and continuous growth that our legal services team has been experiencing over the past number of years, and will ensure we are well-equipped to meet the ever-changing and complex needs of our international clients."


He continued: "The lateral appointment of Partner and Head of the Employment team, Karen Killalea, builds on our current Employment practice and reflects our strategy of providing comprehensive commercial legal services to meet the needs of our international clients in Ireland. I am confident Karen's appointment will further drive the considerable growth we are seeing from our global client base."


The Irish partners are joined by four additional partners across the firm's global offices, with similar appointments in the Cayman Islands and Singapore.


The Maples Group now comprises over 1,800 people across 18 locations worldwide.

From L-R: Philip Keegan (Partner, Funds & Investment Management); Mary O'Neill (Partner, Asset Finance); Lynn Cramer (Partner, Tax); Nicholas Butcher (Managing Partner, Dublin); Karen Killalea (Partner and Head of Employment) and Aaron Mulcahy (Partner, Funds & Investment Management).

About the New Partners

Karen Killalea – Partner and Head of Employment
Karen joined the Maples Group as a Partner and Head of the Employment team in 2019. She has over eighteen years’ experience advising clients on all aspects of employment law including contractual matters, sensitive investigations, employee privacy issues, GDPR, gender pay gap preparation, TUPE, HR aspects of corporate re-structuring and asset disposals, industrial relations, working time, equality issues, executive compensation, removal of directors and senior executives and the protection of confidential information. Karen’s recent cases include securing court orders to prevent the theft of confidential information, restraining a team move and defending a High Court challenge to the suspension and investigation of a senior employee. She regularly represents clients before the WRC and the courts and has extensive experience of successful mediation and dispute resolution.

 

Lynn Cramer – Partner, Tax
Lynn joined the Maples Group in 2011. She is a partner in the Tax team and advises on corporate, investment funds and financial services tax matters. She has particular experience in advising on the tax aspects of corporate transactions, employee remuneration and share schemes.

 

Philip Keegan – Partner, Funds & Investment Management
Philip joined the Maples Group in 2012 having previously worked with a large Dublin law firm and a global audit and tax practice. He has extensive experience in advising on the establishment, operation and regulation of all types of investment funds, including UCITS, AIFs and related investment vehicles. He has particular expertise in the area of financial services regulation including in relation to the relocation of Brexit firms, isation of management companies and the Irish and EU MiFID regimes.

 

Aaron Mulcahy – Partner, Funds & Investment Management
Aaron joined the Maples Group in 2014 having previously worked with a large Dublin law firm and a global law firm. He advises on a wide variety of legal and regulatory issues facing Irish domiciled collective investment schemes (CIS), and has particular expertise in the establishment, operation and regulation of all types of Irish CIS, including UCITS and AIFs. He currently sits on industry association committees dealing with money market fund and limited partnership reform. He also advises a wide variety of fund service providers, including alternative investment fund managers (AIFMs), delegates of AIFMs, administrators, custodians / depositaries and prime brokers.


Mary O'Neill – Partner, Asset Finance
Mary joined the Maples Group in 2014 and advises on a wide range of aviation finance transactions. Mary's expertise includes advising financial institutions, investors, operating lessors and airlines in connection with aircraft sales & purchases, operating & finance lease structures, as well as a range of financing solutions, including tax-efficient leasing and export credit agency facilities. 

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<![CDATA[Maples Group Expands Presence to Mainland China]]> Shanghai, China. This is the Group's third location in the Asia Pacific region having established the Hong Kong office in 1995 and the Singapore office in 2012.

The office is represented by Sherry Lin, Vice President of Business Development and is located in Suite 32, 28/F Shanghai World Financial Center, 100 Century Avenue, Pudong, Shanghai, 200120. 

For nearly 30 years, the Maples Group's Asia Pacific offices have been servicing multinational clients on their investments in China as well as China-based clients on their overseas investments. The Group has a market leading reputation in Asia Pacific having been named "Offshore Law Firm of the Year" consistently and consecutively for the past decade .  The Maples Group in Asia comprises over 250 legal, fund services and fiduciary services professionals offering seamless services across the region.  

Global Managing Partner, Alasdair Robertson, commented, "We have been evaluating China for some time and through discussions with our clients and our partners we have decided it is the right time for  the Maples Group to expand our physical presence here. We are delighted to welcome Sherry to the team and Sherry will work closely with all of our international offices and in collaboration with our Hong Kong and Singapore teams."

The Maples Group global footprint covers 18 locations worldwide. The Group has opened offices in Jersey, Abu Dhabi and Luxembourg in the past six months.
 
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<![CDATA[The Maples Group Strengthens its Finance Practice in Asia]]>

James Kinsley, a finance partner in the Maples Group's legal services team, has recently relocated to the Singapore office, further strengthening its service offering in Asia.

Previously based in the Maples Group's Dubai office for the past five years, James has experience in international capital markets and finance transactions across Asia, Europe and the Middle East. In particular he advises on structured finance, aircraft finance, fund finance, Islamic finance, general banking and corporate transactions, including private equity co-investment platforms. James also advises leading financial institutions on complex netting and collateral structures for both conventional and Islamic derivatives. Before joining the legal services team at the Maples Group, James worked at Clifford Chance in London, Allen & Overy in London and Hong Kong and Morgan Stanley in Hong Kong.

Managing Partner of the Singapore office's legal services division, Michael Gagie, said, "We are delighted to welcome James to Singapore as a significant addition to our leading finance practice. Singapore is both a regional and international hub for cross border corporate, M&A, finance and funds activity and expanding our capabilities enables us to further pursue the growing opportunities throughout the Asia Pacific region."

James added, "I am delighted to return to Asia with valuable experience gained in the Middle East. I look forward to working with the rest of the team to provide innovative solutions to our clients in this dynamic market."

James is admitted as a solicitor in England and Wales (not a practising English solicitor) and an attorney-at-law in the Cayman Islands.

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<![CDATA[Maples Group Bolsters Expertise with Appointment of Pamela Sen-Gupta as Senior Vice President]]> The Maples Group, a leading service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, has appointed Pamela Sen-Gupta as a Senior Vice President within the fiduciary services business in the Cayman Islands.

As a qualified lawyer with over 18 years of experience working for financial institutions and with extensive knowledge of structured products, derivatives, securitisations, restructuring and insolvency, investment funds, litigation and regulation, Ms. Sen-Gupta brings significant industry expertise and a unique perspective to support the Maples Group’s client service and business development efforts. Previously, she has held a number of senior legal positions with global commercial banks, investment banks, a co-operative farming bank and a bank in administration, managing teams and gaining litigation experience in multi-jurisdictional, cross-border matters. In addition, she has worked on corporate and financial restructuring projects, as well as regulatory assignments. Ms. Sen-Gupta holds a B.A. Joint Honours Degree in Economics and Philosophy from University College London and a Postgraduate Diploma in Law from The College of Law (London).

The addition of Ms. Sen-Gupta comes on the heels of continued growth of the Maples Group’s fiduciary services business globally given increasing demand from both investors and regulators for strong oversight and the highest standards of corporate governance. The Maples Group brings in-depth knowledge of a wide range of investment vehicles and structures, as well as regulatory and investor requirements and best practices. This expertise, backed by a robust institutional-grade infrastructure and highly responsive approach, effectively supports clients in navigating the complexities of today’s global business landscape.

"Pam’s practical experience and knowledge of structured finance vehicles will immediately enhance our value proposition and ability to effectively support our clients who are increasingly operating in a more complex environment," said Guy Major, Global Head of Fiduciary Services. "Our team has established a reputation for excellence and brings a depth of expertise that is unmatched in the industry. We are thrilled to welcome Pam and add even more expertise to our already very deep bench."

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<![CDATA[Maples Group Given Top Tier Ranking by Chambers Global]]> Chambers has released its 2019 Global guide to the world's leading law firms and the Maples Group has secured top spots for ten practice groups across six locations. Maples Group continues to achieve high rankings in both the individual lawyer and practice group categories, with 64 lawyers recommended in this edition. 

 

The guide, which recognised the Maples Group's legal services as, 'market leading', published reviews received across the firm's global client base. Clients described the Maples Group's performance as, 'uniformly first-rate', with, 'the right mix of practices to fit different needs in different jurisdictions'.

 

Chambers Global covers over 190 countries across the world.  The first Chambers rankings were published in 1990 and the guides currently research over 185 jurisdictions worldwide.  Individual lawyers are ranked on the basis of their legal knowledge and experience, their ability, their effectiveness, and their client-service. Law firm departments are ranked on the qualities of their lawyers as well as the effectiveness and capability of the department as a whole.

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<![CDATA[Maples Group Expands Cayman Islands Regulatory & Compliance Practice]]> The Maples Group is pleased to announce the recruitment of Hugo Lodge as a partner in its Regulatory & Compliance legal practice.  Hugo joins the Group's Cayman Islands office from the UK Financial Conduct ity, where he led the new team responsible for the oversight of AML supervision in the UK legal sector, prior to which he worked in the Retail Banking, Enforcement and Market Oversight division. Hugo was called to the Bar in England and Wales in 1998 and practised as a barrister at 7BR in London where he specialised in financial crime and regulation.

 

Global Managing Partner, Alasdair Robertson said:  "We are delighted to welcome Hugo to the firm and to our growing regulatory practice.  Hugo is a first class, senior lawyer and advocate with experience that will enable our Cayman Islands practice to go from strength to strength.  Hugo's recruitment is another step in demonstrating the Maples Group's commitment to helping clients understand and comply with the regulatory initiatives being introduced, which ensures that, as a financial centre, the Cayman Islands remain in step with global standards." 

 

The addition of Hugo to the Regulatory & Compliance group follows the recent hire of Sarah Farquhar, who joined the Cayman Islands office as an associate, and Anna Whaley, who joined the London office as an associate.

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<![CDATA[Introducing the Maples Group - A Brand Evolution]]> With effect from 28 January 2019, Maples and Calder and MaplesFS which comprises Maples Fiduciary and Maples Fund Services, have consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised offerings.  This composite of collective services includes an international law firm, advising on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg and market leading global fund administration and fiduciary services. 

 

 

The rebranding initiative, which includes a new corporate logo and website, highlights the strength of the Maples Group as a comprehensive solution for legal, fiduciary, fund, entity formation and management services, as well as regulatory and compliance services. 

 

"We have always understood the demand from our clients for a complete and seamless service incorporating the legal advice we provide, with the specialist suite of complementary services offered by our fiduciary and fund services teams, which has been a cornerstone of our growth for many years," said Alasdair Robertson, Global Managing Partner. 

 

"The rebranding of our businesses underscores our commitment to a full service offering of the highest standards for our clients," he added.  "We will continue to deliver excellence across all lines of our business and the rebrand will not impact the way that we service our clients, who can expect the same partnership-based approach and tailored solutions to which they have become accustomed."

 

The fresh design of the new Maples Group logo reflects its ethos of fusing local and global expertise to work together seamlessly in a collaborative and integrated way, alongside the diversity of its people, services and geography.  The Group currently operates from a network of 17 international locations, representing a truly global footprint, and has a headcount of over 1800 people.  Renowned for its high touch, responsive client service, the Maples Group takes an innovative approach to delivering customisable and cutting edge solutions to meet the unique needs of its clients.

 

The Maples Group's new website, www.maples.com, provides access to its wide range of services and expertise through a single portal, designed to enhance the overall user experience.  

 

"Our new corporate identity, unveiled today, is another milestone in the evolution of the Group's brand and reflects significant demand for a service provider with a holistic offering for the financial services industry," said Scott Somerville, CEO of the fiduciary, fund, entity formation and management, and regulatory services businesses of the Maples Group. "We have experienced tremendous growth in our business in recent years, which has enabled us to support our clients across the globe with an unmatched depth of service, reinforced by market leading technology and the cross-jurisdictional expertise of our professionals.

 

"We are excited to reveal this new business strategy and look forward to giving our clients the opportunity to tap into the full suite of services that the Maples Group continues to offer and develop," he added.

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<![CDATA[Maples and Calder Advises on First ADGM Investment Manager isation with the CBI]]> Maples and Calder's Investment Management group has worked with AD Global Investors Limited ("ADGI") to successfully obtain Central Bank of Ireland ("CBI") isation for ADGI to act as an investment manager to Irish ised Collective Investment Schemes.

ADGI are the first Abu Dhabi Global Market ("ADGM") ised and Abu Dhabi-based investment manager to obtain this clearance from the CBI to act for Irish ised funds. In addition, ADGI has been appointed as the investment manager to the Invest AD UCITS ICAV platform and its four initial sub-funds.

Peter Stapleton, Head of the Investment Management group in Maples and Calder's Dublin office commented: "We are delighted to have collaborated with ADGI on this notable milestone in becoming the first Abu Dhabi-domiciled and ADGM-regulated investment manager to obtain approval to manage Irish ised Collective Investment Schemes and we look forward to working together during this exciting phase in their development".

Maples and Calder's' Investment Funds team in Dubai has advised on the formation of some of the largest private equity and hedge funds in the region since 2005. Our affiliate, Maples Fiduciary offers ADGM solutions and has established a reputation as a first class service provider by providing an independent, tailored and customised service.

ADGI is a specialist active fixed income manager serving institutional investors. It offers separately managed accounts and funds for Emerging Market Debt Local Currency, Emerging Market Debt Hard Currency, MENA Fixed Income and Global Sukuk.

David Rothon, CEO at AD Global Investors said: "Being a new investment firm it was important for us to have the right partners supporting us early on, Maples and Calder did not disappoint and provided excellent advice throughout the launch of the ICAV, the funds and our Central Bank of Ireland isation. We look forward to their continued support in the coming years as our business develops".

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<![CDATA[Maples Group Extends Service Offering to Jersey]]> The Maples Group, a leading global provider of specialised fiduciary, entity formation and management, insurance and administration services, has announced that it has received a Trust Company Business Licence from the Jersey Financial Services Commission and has established an on-the-ground presence in Jersey. The extension of its service offering to Jersey will include the provision of fiduciary services to corporate holding and structuring companies, limited partnerships and investment funds, as well as private trust services. 

Jersey is one of the world’s leading international finance centres and its robust regulatory framework, political and economic stability and forward-thinking approach have kept it at the forefront of the global financial services industry. The extension of the firm’s fiduciary services offering in Jersey is a natural complement to the recent launch of its legal services offering in the jurisdiction and is a reflection of the depth of the Maples Group’s offering globally. In support of this, Robert Lucas has joined the team as Senior Vice President, having operational responsibility for the Jersey office. In addition, Terese Price has been appointed as Vice President to support the Jersey business. 

Mr. Lucas brings more than two decades of multi-jurisdictional experience and deep operational and strategic expertise, having held a number of senior leadership roles within the financial services industry. Previously, Mr. Lucas was a director at an independent global trust, corporate and fund services provider in Jersey. Prior to that, he specialised in running offshore fund and corporate structures in both directorial and administrative capacities with a number of global service providers. He received a Bachelor of Arts with honours in Accounting and Finance from the University of Liverpool in the UK and is a member of the Institute of Chartered Accountants in England and Wales. 

Mrs. Price brings deep technical expertise from over 10 years' experience working in private wealth in Jersey, with extensive knowledge of various client structures and relevant statutory requirements. Previously, Mrs. Price was a manager in a private wealth team offering corporate services and trustee services to high-net-worth clients in multiple jurisdictions. She was overseeing a team portfolio including a variety of trusts and private trust companies. She is a qualified chartered secretary and as associate of the Institute of Chartered Secretaries & Administrators. She received a Bachelor of Social Science in Business Administration and a Bachelor of Social Science in Economics from Mälardalen University in Sweden. 

In addition, Senior Vice President, Cleveland Stewart has relocated from the Maples Group’s Cayman Islands office to Jersey. Cleveland brings a vast amount of knowledge and experience to the team and will play an integral role in building the Jersey business. These individuals will be closely supported by Regional Head of Fiduciary Services, Stephen O’Donnell, as well as the Maples Group’s broader European business and support teams.

"This extension of our fiduciary services offering supports the provision of an efficient, streamlined service for clients that have Jersey structures," said Scott Somerville, CEO of the fiduciary, fund, entity formation and management and regulatory services business of the Maples Group. "We are thrilled to mark this next phase in our growth and are confident that the scale and scope of the Maples Group’s combined legal and fiduciary services offering in Jersey is unmatched, and makes us well positioned to continue delivering best-in-class solutions to the market."

For more information on our fiduciary services offering in Jersey, please click here.

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<![CDATA[Maples and Calder Ranked as Top Irish Funds Legal Adviser]]> Leading international law firm, Maples and Calder ("Maples") has retained its position as the number one legal adviser to Irish-serviced funds for the sixth consecutive year by the Monterey Insight Report 2018.

Monterey Insight is a leading independent fund industry research company that provides the only comprehensive statistical analysis of service providers for all investment funds serviced in Ireland, the UK, Luxembourg, Jersey and Guernsey. 

Peter Stapleton, Head of the Investment Management team in Maples and Calder's Dublin office commented on the results: "We are delighted to be ranked as the top legal firm in Ireland having advised on the highest number of Irish-serviced funds for the sixth year in a row. To once again obtain this coveted position is a fantastic achievement and wouldn't have been possible without the support of our trusted clients and the talented partners, lawyers and wider Investment Management team at Maples."

He continued: "In addition to a great year in Ireland, our global Investment Management group was further bolstered this year by the opening of offices in Luxembourg and Jersey. These offices were opened in response to a surge in demand as our clients examine how best to maintain and enhance their European business and we look forward to working with these new global teams in 2019."

The Monterey report also highlights year-on-year growth in the Irish funds industry with the ICAV continuing to provide an excellent vehicle of choice for asset managers, with Maples and Calder holding a 37% market share on ICAVs advised based on the Central Bank of Ireland register as at 31 July 2018.

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<![CDATA[Maples Fund Services Recognised at Global Custodian Industry Leaders Awards for Client Service in Private Equity Fund Administration]]>
As the alternative asset management industry evolves, fund administrators are being tasked with moving beyond their traditional roles to support the sophisticated needs of investment managers and their investors. Maples Fund Services partners with its clients to act as a true extension of their businesses, leveraging its global operating model to deliver a comprehensive, industry-leading offering. Clients are further supported by Maples Fund Services’ innovative technological infrastructure which is underpinned by an optimal balance of bespoke proprietary systems and best-of-breed core systems. This includes FIS Investran, an industry leading private equity fund accounting platform designed to simplify the most complex partnership accounting and reporting functions, providing automated processes including waterfall and management fee calculations, on-demand financial and performance reporting as well as highly flexible customisable reporting capabilities. In addition, Maples Fund Services has implemented Investran’s Data Exchange solution, DX, which provides private equity general partners and limited partners with online access to a rich, intuitive reporting and analytics.

For more information on our North America private equity solutions, please visit our dedicated webpage.]]>
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<![CDATA[Maples Fiduciary Appoints Dennis van den Broek as Director Business Development in North America]]> Maples Fiduciary, a division of MaplesFS and leading global provider of specialised fiduciary, entity formation and management, insurance and administration services, has appointed Dennis van den Broek as Director, Business Development in North America, in a key strategic appointment to enhance its service offering to investment funds and structured finance vehicles.

With over 18 years of experience in the alternative investment fund industry, including business development, legal and tax advisory roles, Mr. van den Broek brings a wealth of expertise to the firm and offers a unique perspective in order to assist clients in growing their business and navigating complex regulatory and compliance issues. 

Mr. van den Broek joins Maples Fiduciary from a global corporate services provider. He will be based in the firm’s New York office, working alongside Guy Dominy, James Lawler and Brendan Tyne. In this role, Mr. van den Broek will provide North American clients with high level transactional support, coordinating the establishment of new onshore and offshore entities and developing innovative service solutions for global entity management and the outsourcing of middle and back office functions. 

His ability to present investment managers with innovative solutions is reinforced by his broad experience across the asset management sector. He spent eight years as an Attorney at Law and International Tax Advisor in the Private Equity practice at leading international law firm Baker McKenzie, where he focused on establishing Luxembourg funds and advised on cross border M&A transactions. Mr. van den Broek holds an MSc in Business Administration (Finance) and an LLM in International Tax Law from Erasmus University, Rotterdam.

Maples Fiduciary is internationally recognised as an industry leader with a comprehensive and high quality offering, based on technical excellence and regulatory expertise, with an intense focus on client satisfaction, from a global network of 12 offices. 

Leveraging on his longstanding relationships with investment managers and service providers, Mr. van den Broek will be well positioned to take advantage of new avenues for business growth in the market and to reinforce Maples Fiduciary’s already exemplary reputation for outstanding client service.

“As we continuously strive to exceed our clients’ expectations and support them with an exceptional range of fiduciary services around the world, we are always seeking to bolster our team with the best and brightest talent in the industry,” said Peter Huber, Global Head of Fiduciary. “With Dennis’ broad practical experience and deep expertise in funds, from formation and structuring to the regulatory environment for investors, he represents a significant addition to our North American offering, where we anticipate considerable near term business growth.”   

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<![CDATA[Maples and Calder Given Top Tier Rankings by Legal 500 Caribbean 2019]]> Legal 500 has released its 2019 Caribbean guide and Maples and Calder has secured 11 practice group rankings across its British Virgin Islands and Cayman Islands offices.

The firm continues to achieve high rankings in both the individual lawyer and practice group categories, with 69 lawyers recommended in this edition. The guide, which recognised Maples and Calder as an 'first-class' law firm, published reviews received across the firm's global client base.

Described as 'first class', with, 'good response times and industry knowledge', clients described the lawyers as, 'enormously co-operative and highly experienced.' Global Managing Partner, Alasdair Robertson commented, "We are extremely pleased with these new rankings. They are a testament to the hard work put in by each of our lawyers and an illustration of their commitment to deliver outstanding service to our clients'.

For 32 years, Legal 500 has been analysing the strength of law firms throughout the world, covering firms in over 150 jurisdictions. Their research is based on feedback from over 300,000 clients worldwide, submissions from law firms and interviews with leading private practice lawyers, to bring the most up to date picture of the global legal market.

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<![CDATA[Duke Magazine - Interview with Johan Terblanche and Majorie Allo]]> In an interview with Duke magazine, Luxembourg office Managing Partner Johan Terblanche and Partner Majorie Allo, give insights into Maples and Calder's Luxembourg office opening.

Click below to read in full.

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<![CDATA[Maples and Calder Advises on Sale of Investment in FNZ]]>
FNZ is a global FinTech company specialising in providing investment platforms to major financial institutions in the financial services and wealth management sectors. 

A team based in Maples and Calder's London office advised FNZ and was led by partner Jack Marriott assisted by associate Christopher Oliver and paralegal Andrew Pollon-MacLeod.]]>
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<![CDATA[Maples Fiduciary Bolsters Expertise with Strategic Hires]]> Campbell Congdon and Wendy Zhang have joined to serve as independent directors and provide fiduciary services to a wide range of alternative investment funds, including hedge funds, fund of funds, private equity funds, unit trusts and segregated portfolio companies.

As governance issues have come to the forefront and investors and regulators are increasing their demand for stronger oversight, Maples Fiduciary has enjoyed a long standing reputation in the industry as one of the premier independent professional service providers that can provide the support necessary to ensure compliance with all relevant legal and regulatory requirements. The addition of these hires supports Maples Fiduciary’s continued growth and bolsters the firm’s depth of experience.

Mr. Congdon has over 20 years of financial services industry experience, most recently with Banco Bradesco in the Cayman Islands, where he was the Financial Controller of up to US$40 billion in assets. His experience encompasses capital market issuances, derivatives, alternative investment funds, unit trusts, mutual funds, pension funds, managing projects and financial reporting. Mr. Congdon received a Bachelor of Commerce (Honours) majoring in Accountancy from Flinders University of South Australia and a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia. He is a member of the Chartered Accountants Australia and New Zealand and a Senior Associate member of the Financial Services Institute of Australasia. He is also fluent in Portuguese. 

Ms. Zhang brings over 13 years of experience, most recently working at Deutsche Bank in the Cayman Islands as Head of Private Equity Fund Services, having responsibility for a global team.. She also has extensive experience overseeing financial reporting, client and investor relations, transfer agency, custody, regulatory compliance and corporate governance for a diverse portfolio of onshore and offshore alternative investment fund structures. Ms. Zhang received a Bachelor of Science (Honours) in Economics and Accounting from the University of Bristol in the UK. She is a member of the Institute of Chartered Accountants in England and Wales and the Cayman Islands Institute of Professional Accountants, and is also fluent in Mandarin. 

"The quality and diversity of our professional staff has been the cornerstone of our business and has ensured that we have maintained the expertise necessary to support our clients," said Peter Huber, Global Head of Fiduciary. "Campbell and Wendy bring a wealth of industry experience and a unique depth of expertise that will be invaluable as we continue to enhance the outstanding fiduciary service offering we provide to the funds that we serve." ]]>
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<![CDATA[Maples Delivers the First Cayman Islands DIP Finance Scheme of Arrangement]]> DIP") priority rescue finance.  The restructuring, which was implemented by way of a scheme of arrangement, required the terms of the original New York law governed notes to be amended to permit a senior ranking new tranche of notes to be issued.  The scheme was granted recognition and enforcement in the US under chapter 15 of the US Bankruptcy Code. 

The injection of finance meant that an imminent fire sale of the underlying collateral (a Marshall Islands flagged drill ship) was avoided and creditors have been given the chance of achieving a better return in the future.  This is one of the first times a scheme has been used to provide DIP rescue finance and may signal the start of a new trend in light of the Noble decision from the English High Court which followed hot on the heels of Schahin.

The Cayman Islands team was led by partner Caroline Moran and of counsel Nick Herrod, with associates Christian La-Roda Thomas and Ryan Hallett. 

The US team was led by partner Tim Graulich and associates Stephen Piraino and Natasha Tsiouris of Davis Polk & Wardwell LLP.]]>
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<![CDATA[Maples and Calder Given Top Tier Rankings by IFLR1000 2019]]> IFLR1000 has released its 2019 guide to the world's leading financial and corporate law firms, with Maples and Calder achieving top tier rankings across its jurisdictions. 

The firm, which has maintained its Tier 1 position throughout the legal directory, secured top spots for eight practice groups across five locations.  The firm continues to achieve high rankings in both the practice group and individual lawyer categories, with 55 Maples and Calder lawyers recommended in the latest edition. 

The guide, which recognised Maples and Calder as a 'top' law firm, published reviews received across the firm's global client base.  Providing 'top notch service', clients praise the, 'extremely high quality advice and work product Maples and Calder provides'.  Maples and Calder's international offices have also been commended as a 'leading offshore firm in Hong Kong'  as well as, 'one of the key law firms in Ireland'. 

Global Managing Partner, Alasdair Robertson commented, "We are very pleased with the latest rankings and are proud to be counted among the top tier legal service providers in the world. These independent rankings are a testament to the quality of work produced by our lawyers and are a validation of our commitment to providing top quality client service." The IFLR1000 is a guide to the world's leading financial and corporate law firms and lawyers. 

Their first rankings were published in 1990 and the guide currently researches over 120 jurisdictions worldwide.  Law firm rankings are based on three key criteria: transactional evidence, peer feedback and client feedback.  In addition, individual recommendations are given to those who have proved themselves to be among the leading figures in their respective markets, as well as having a clear track record of innovative work.

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<![CDATA[Jersey Bursary Scheme]]> Maples and Calder's Jersey office is pleased to announce the launch of their new bursary scheme for students.  Details of the scheme were first mentioned in Jersey Finance's September Newsletter, 'A Taste of Finance', which targets Jersey-based students who have an interest in Finance. 

The scheme will offer candidates the opportunity to work within a close-knit and forward thinking team at an exciting stage of their career. Applications are now open and will be considered on an annual basis. 

For more information, please click here.

 

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<![CDATA[Maples Fiduciary Extends Middle East Offering to Abu Dhabi Global Market ]]> Maples Fiduciary, a division of MaplesFS and a market leader in the provision of fiduciary, corporate formation and administration services to investment funds, partnerships, structured finance vehicles, corporate entities and private clients, has announced the extension of its Middle East offering to Abu Dhabi Global Market ("ADGM").

As a financial free zone, ADGM is an independent jurisdiction encompassing the entire Al Maryah Island with rules and regulations aligned with international best practices. In addition, ADGM's three independent ities - Registration ity, Financial Services Regulatory ity and the ADGM Courts - provide a controlled environment that enables registered companies to conduct business and operate with confidence. The extension of our offering to ADGM further enhances our geographic footprint and ability to service clients doing business locally and in multiple jurisdictions. Licensed in the UAE and operating in the Dubai International Financial Centre ("DIFC") since 2008, Maples Fiduciary has established a reputation as a best in class service provider in the Middle East. The firm works closely with its affiliate Maples and Calder as well as other leading international and domestic law firms, audit firms and other consultants and service providers to gain a unique understanding of industry best practices. Leveraging this knowledge, Maples Fiduciary delivers consistent and quality service tailored to the individual needs of its clients.

The ability to offer ADGM solutions, which include the provision of directorships, company secretarial and board support, accounting, and incorporation and corporate services, further cements the firm's reputation as the premier corporate and fiduciary services provider in the region. Further supporting the Maples Fiduciary's expansion to ADGM is the appointment of Norbert Neijzen as Regional Head of Fiduciary, Middle East. He has extensive experience working with international clients in the corporate, private equity, banking and aviation segments across a wide range of financial products and holding and financing vehicles. Leveraging his deep knowledge of the complexities of these structured finance vehicles and transactions and commitment to delivering the highest quality of work and level of client service, Mr. Neijzen will be responsible for driving the firm's Middle East strategy both in the DIFC and ADGM. Previously, he held senior positions in the financial services industry both in the Middle East and Europe. He received a Master of Laws from the University of Amsterdam in the Netherlands.

"While the ADGM market is still relatively small, it is rapidly evolving and quickly gaining traction. We are happy to able to offer our services and support the growth of ADGM and are thrilled to welcome Norbert to our team," said Scott Somerville, Chief Executive Officer, MaplesFS. "We look forward to continuing to build our business in the Middle East and are confident that we can leverage our established reputation in the region to deliver best in class solutions."

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<![CDATA[Maples Group Further Expands Legal Service Offering to Include Luxembourg]]> The Maples group is pleased to announce the further expansion of its global offering, with the addition of Luxembourg legal services. 

From 1 October 2018, the newly established Luxembourg office of Maples and Calder will offer advice on fund formation, finance, corporate, tax and associated regulatory work. 

The addition of this fifth jurisdiction to Maples and Calder's offering is highly complementary to its existing British Virgin Islands, Cayman Islands, Irish and Jersey capabilities, particularly for clients using Luxembourg along with the firm's services in these other jurisdictions. 

MaplesFS, the Maples group's independent global provider of specialised fiduciary, fund administration, entity formation and management, insurance management and trust and private client services, has had a presence in Luxembourg since 2007.  The Maples group is now able to provide a comprehensive range of legal, fiduciary and administration services from Luxembourg, which is complemented by the group's offering from its locations within other key international financial centres. 

As clients examine how best to maintain and enhance their European presence and access to its markets in light of continuing developments with Brexit, BEPS and third country passporting, many are including Ireland, Jersey or Luxembourg as jurisdictions in which they now operate.  The opening of Maples and Calder's Luxembourg and Jersey offices will build on the firm's highly successful Irish law practice and will allow it to offer legal, regulatory and tax services across these three leading European financial services centres. 

Johan Terblanche has joined as Managing Partner of Maples and Calder's Luxembourg office and head of the Luxembourg Funds group.  Johan is recognised in the funds arena as a leading lawyer, and has been focusing on fund structuring / formation and regulated financial business for the majority of his practice. 

"I am delighted to have joined Maples and Calder to assist with the launch of this new offering in Luxembourg," said Johan Terblanche, Managing Partner of Maples and Calder's Luxembourg office.  "We have welcomed an impressive total of 30 new team members, including 16 lawyers, and we expect the team to grow further through the end of the year.  I look forward to working alongside my new colleagues in Luxembourg and globally to provide clients with comprehensive solutions." 

Corporate expert, Marjorie Allo, has joined as a Corporate partner and head of the Luxembourg Corporate group.  Marjorie brings significant experience in corporate restructuring, corporate finance and securities. 

"My fellow partners and I are very excited to join Maples and Calder so that we can provide clients with a greater choice of services internationally," said partner, Marjorie Allo.  "As with Johan, we are also looking forward to working together with our new colleagues to grow this new practice." 

In addition to Johan and Marjorie, the group has made a number of other senior hires to support the establishment of the new office, including Corporate partner, Baptiste Aubry; Tax principal, James O'Neal; and Finance partner, Arnaud Arrecgros. 

Baptiste specialises in corporate restructurings and cross border mergers and acquisitions.  James will be head of the Luxembourg Tax group, and is a very experienced practitioner who advises Fortune 500 companies, start-ups and private equity firms on many aspects of Luxembourg taxation, including IP planning, cross border financing, mergers and acquisitions, and restructurings.  Arnaud's expertise includes cross border financing and banking transactions, including corporate debt facilities, acquisition and real estate financing and restructuring, as well as capital markets matters. 

"It has been an exciting and busy year for our firm, with the addition of Jersey and now Luxembourg legal services to our offering," said Alasdair Robertson, Global Managing Partner of Maples and Calder.  "The decision to open these offices has been driven primarily by client demand, and we look forward to continuing to provide clients with our excellent level of service across our expanding global network."

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<![CDATA[MaplesFS Extends Corporate Services Offering to Bermuda]]> MaplesFS, an independent global provider of specialised fiduciary, fund administration, entity formation and management, insurance management and trust and private client services, has announced that it has received a corporate service provider license from the Bermuda Monetary ity. The expansion of MaplesFS service offering in Bermuda will include the incorporation of companies, formation of limited partnerships, registered office services, corporate administration services and the provision of directors.

Bermuda continues to enjoy a strong reputation as a leading offshore jurisdiction due to its well established infrastructure and stable legal and judiciary system. The extension of the firm's capabilities to include corporate services in Bermuda is a natural complement to its existing trust license and is synergistic to its global service offering, which is positioned to service clients with unique and sophisticated needs who operate in multiple jurisdictions. In support of this, Danielle Baikie has joined the team in Bermuda, having operational responsibility for this business line under the management of Senior Vice President, Christopher Tribley. Ms. Baikie has extensive experience in providing corporate secretarial services to corporate and limited partnership structures domiciled in

Bermuda and other jurisdictions. She specialises in the preparation of minutes from board and shareholder meetings and communication with boards of directors on all aspects of company secretarial and corporate governance matters and brings strong understanding of UK, Jersey and Bermuda Companies Law and a proven track record of delivering outstanding client service. Previously, Ms. Baikie was a Corporate Administrator within the insurance division at Estera and prior to that, she spent seven years at JTC Group. She received a Bachelor of Arts with honours in Accounting and Finance from the University of Brighton in the UK and is an affiliated member of the Institute of Chartered Secretaries and Administrators. "MaplesFS continues to build its business in Bermuda and we are confident that our ability to offer corporate services makes us well positioned to meet demand from new and existing clients," said Mr. Tribley. "Furthermore, we are thrilled to welcome Danielle to our team. She brings a unique skillset, depth of experience and commitment to delivering the highest levels of service and support to our clients."

For more information on our Bermuda corporate and fiduciary services, please visit our dedicated webpage here.

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<![CDATA[Maples and Calder in Jersey becomes TISE Listing Member]]> Maples and Calder in Jersey has been admitted as a Listing Member of The International Stock Exchange (TISE). Last week the firm launched its new legal service offering from Jersey and now Maples Listing Services (CI) Limited has been approved to arrange and sponsor the listing of all types of securities on TISE.

Fiona Le Poidevin, CEO of The International Stock Exchange Group (TISEG), said: “I am very pleased to welcome Maples and Calder in Jersey as a Listing Member of TISE. Their ability to promote this new TISE listing service through their global network complements our strategy for an increasingly diverse client base both in terms of product type and geographical origin of business.” The Maples and Calder office in Jersey is managed by Chris Byrne. He is joined by senior hires Simon Hopwood and Paul Burton and associates Anna Cochrane and Stephanie Edge. All have experience of providing TISE listing services.

Chris Byrne said: “I am delighted that our new office in Jersey is not only providing Jersey legal services in the corporate, finance and investment funds areas but also a TISE listing service. The team in Jersey has significant experience of working on TISE listings and so it felt natural for it to form part of our integrated offering. It also reflects the strong client demand for TISE listings and our belief that we can leverage our knowledge and insight, alongside our reach internationally, to attract new streams of listings which would be well suited to the cost-effective and convenient TISE offering.”

This new membership serves as a welcome addition to Maples and Calder's provision of specialist listing services for the Cayman Islands and Ireland.

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<![CDATA[Maples Group Dubai Office Move]]> Effective 23 September, the Maples group will expand its physical presence in Dubai with a relocation of its two offices to one location: 

Maples and Calder (Dubai) LLP

Level 14, Burj Daman Dubai International Financial Centre

PO Box 119980

Dubai United Arab Emirates

Main tel: +971 4 360 4070

Main fax: +971 4 360 4080

Maples Fund Services (Middle East) Limited

Level 14, Burj Daman Dubai International Financial Centre

PO Box 506734 Dubai United Arab Emirates

Main tel: +971 4 511 4200

Main fax: +971 4 511 4100 Since

Maples and Calder opened in 2005 and MaplesFS in 2008, the Maples group has maintained a unique on-the-ground presence in Dubai.  Our dedicated team brings an unmatched level of expertise that draws upon jurisdictional knowledge and experience and provides clients with local time zone and language support. 

This, coupled with the strength of the Maples group globally, has solidified our reputation as a market leader in the provision of legal, fiduciary, fund administration, fund and entity formation and management services to clients in the region. 

The consolidation of our two offices and expansion to a new space will serve to facilitate expected future growth and signifies our ongoing commitment to investing in the resources necessary to support the delivery of best in class solutions in Dubai and throughout the Middle East. 

Please do not hesitate to reach out to your usual Maples group contact or one of the individuals listed above for more information or with any questions.

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<![CDATA[Maples and Calder Launches Legal Service Offering in Jersey]]> Maples and Calder is pleased to announce the opening of its newest office, located in Jersey.  In response to client demand, the group now provides Jersey legal services in the corporate, finance and investment funds areas as well as listing agent services for the listing of securities on The International Stock Exchange ("TISE") in the Channel Islands.

The new offering is a natural evolution for the international firm, and will complement its existing British Virgin Islands, Cayman Islands and Irish legal services.  Maples and Calder has made three senior hires to support the expansion.  The office is managed by leading Jersey advocate Chris Byrne, who brings over 20 years' experience in the Jersey legal market as a senior partner at another international firm in Jersey. 

Chris is joined by Simon Hopwood and Paul Burton.  Simon Hopwood is an investment funds expert who has almost 20 years' experience specialising in private equity and real estate funds.  Paul Burton is a corporate and finance specialist and Jersey advocate who has extensive experience in public and private M&A, corporate / investment structuring, debt financing and capital markets transactions. 

These three senior hires will be supported by associates Anna Cochrane and Stephanie Edge and other lawyers who are due to join the Jersey team this autumn.  "I am delighted to join Maples and Calder to assist with establishing the firm's presence in Jersey," said Chris Byrne.  "Maples is a top tier international firm and I am looking forward to working with my new colleagues around the world to provide an integrated service to our clients."

Global Managing Partner, Alasdair Robertson, commented, "This office marks another milestone for Maples and Calder.  We are excited to announce this addition to our global presence, which affirms our long term commitment to our clients, providing them with greater choice to complement our existing services."

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<![CDATA[Maples and Calder Advises FNZ on the Acquisition of ebase]]>
FNZ Group is a London-based financial technology company that provides state-of-the-art platform solutions across multiple distribution channels. Originally founded in New Zealand in 2004, the company's clients include leading financial institutions.

With the takeover of ebase, FNZ intends to expand its platform solutions in the B2B investment business and to strengthen its position in the German market.

A team based in Maples and Calder's London office advised the FNZ Group, which was led by partner Jack Marriott, assisted by associate Christopher Oliver and paralegal Andrew Pollon-MacLeod. ]]>
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<![CDATA[Maples and Calder Announces New Partners and Of Counsel]]> International law firm Maples and Calder, which advises on the laws of the British Virgin Islands, the Cayman Islands, Ireland and Jersey, announces the appointment of seven new partners and three of counsel across its global offices.

The new partners in the firm's Cayman Islands office include Tim Coak, Daniel Lee, Anthony Philp, James Reeve and Shari Seymour.  Callaghan Kennedy and Michelle Lloyd were elected as partners in the Dublin and Hong Kong offices, respectively.  The firm's new of counsel include Tim Dawson and David Sherwin in the Cayman Islands office and Mary O'Neill in the Dublin office.

"We are delighted to announce our new partners and of counsel in recognition of their exemplary expertise and dedication to the firm," commented Global Managing Partner, Alasdair Robertson. "Our firm continues to go from strength to strength thanks in large part to the quality of our people, and we are confident these individuals will excel in their new roles."

Cayman Islands

Tim Coak specialises in the establishment, launch, ongoing maintenance and restructuring of all types of Cayman Islands investment funds, particularly hedge funds and private equity funds. He advises on commingled funds and managed accounts, and acts for a wide variety of clients, including large financial institutions and investment managers and smaller, start-up investment managers.  He also regularly advises clients on a broad range of corporate and commercial transactions. Tim joined Maples and Calder in 2012.

Daniel Lee also joined Maples and Calder in 2012 and has extensive experience in all aspects of corporate work, including mergers and acquisitions, joint ventures, IPOs and corporate restructurings.  He also regularly advises on a broad range of investment funds, fund finance and structured finance matters.

Anthony Philp has an extensive and broad range of experience in debt capital markets, corporate financing and asset financing.  He regularly advises hedge funds, private equity funds and banks on capital commitment fund financing as well as borrowers and lenders on aircraft financing.  He also advises on CLO and structured product transactions and secured and unsecured banking transactions, in addition to regulatory, general corporate and commercial matters and all types of listings on the Cayman Islands Stock Exchange.  Anthony joined the firm in 2008.

James Reeve advises on structured finance transactions (in particular CLO transactions, related risk retention structures and catastrophe bonds), fund financing matters (acting for both lenders and borrowers) and general banking and financing work.  James also has experience advising on asset finance transactions (particularly off-balance sheet commercial aircraft financing and leasing) and general corporate and commercial transactions, along with restructurings and securities listings on the Cayman Islands Stock Exchange.  Prior to joining Maples and Calder in 2011, James worked as a banking and financing lawyer at a magic circle firm in London where his practice focused principally on project finance.

Shari Seymour joined Maples and Calder in 2006 as an articled clerk, and upon qualifying in 2007 she joined the firm's Corporate team.  She has a wide range of expertise in corporate and commercial law, including advising banks, pharmaceutical companies, multinational corporations, power and energy companies, internet companies and property development companies on joint venture arrangements, IPOs, restructurings, banking and financing transactions.  Shari's practice also includes advising private equity firms and investment managers on the formation and maintenance of all types of investment funds, including hedge funds and private equity funds.

Tim Dawson is a member of the Regulatory & Financial Services team.  He provides all aspects of regulatory and financial services advice, including in respect of Cayman Islands licensing, prudential and conduct of business requirements, reporting and information exchange obligations (including those deriving from FATCA and the Common Reporting Standard), and advice on duties of data protection and confidentiality, anti-money laundering and combating of terrorist finance.  Tim is a member of both industry and Cayman Islands Government legal and regulatory working groups.  Tim joined Maples and Calder in 2015.

David Sherwin joined the firm in 2011 and advises hedge funds, private equity funds and investment managers on fund formation, restructuring and fund transactions.  He also works both internally and with government and local industry on key legislative and regulatory developments.

Dublin

Callaghan Kennedy joined Maples and Calder as a trainee in 2009, and upon qualification in 2012 he joined the firm's Finance team.  He advises arrangers, managers, investors and issuers on a wide range of finance, debt capital markets and structured finance transactions.  Callaghan focuses particularly on structured products, such as CLOs and other asset backed securitisations, commodities, utilities, marketplace lending and other alternative asset class financings, as well as on repackagings and other programme issuers.  He also advises on fund-linked structures, such as managed account platforms, loan funds and debt funds.  Callaghan also regularly advises on wider financial services and regulatory law, both in relation to regimes that impact structured finance transactions, such as market abuse, EMIR / SFTR and risk retention, and on issues generally affecting financial services firms like licensing and establishment, change of control and ongoing regulatory compliance.  Callaghan is also a qualified Irish tax advisor.

Mary O'Neill joined the firm in 2014 and advises on a range of aviation finance transactions.  Her expertise includes advising financial institutions, investors, operating lessors and airlines in connection with aircraft sales and purchases and on operating and finance lease structures, as well as a range of financing solutions including tax efficient leasing and export credit agency facilities. 

Hong Kong

Michelle Lloyd heads the Irish desk in Maples and Calder's Hong Kong office, where she provides full service Irish funds solutions to the firm's Asian client base from a more convenient time zone.  Michelle has broad experience advising on the establishment, isation and operation of various types of UCITS and non-UCITS regulated funds, with a particular recent focus on Brexit structuring and advising on AIFMD implementation and compliance.  She speaks regularly at industry conferences on UCITS and AIFMD issues and is a representative for Irish Funds in Asia.  Michelle joined the firm in 2010.

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<![CDATA[Maples Group Supports TPG in Market-Leading CRE CLO]]>
As a result of its established reputation for technical excellence and regulatory expertise and unique approach to client service, Maples Fiduciary has been long recognised as one of the premier service providers in the industry and has been appointed to provide administrative and fiduciary support to TPG Real Estate Finance 2018-FL1 Issuer, Ltd. in the Cayman Islands, and TPG RE Finance Trust 2018-FL1 Co-Issuer, LLC in Delaware. Maples and Calder also provided Cayman Islands legal advice to the issuer. 

The Maples and Calder team was led by Partner Tina Meigh and Associate Jonathan Brown, while the Maples Fiduciary team was led by Guy Major, Yun Zheng, Ed Truitt and Gregory Read.

"We would like to congratulate TRTX on the launch of their first marketed CRE CLO," said Guy Major, Global Head of Maples Fiduciary.  "We are proud to support one of the industry's most established and innovative players and look forward to continuing to deliver the high calibre of service we have become known for and further growing our partnership.  Being involved in such a high profile transaction demonstrates the expertise of both our Cayman and Delaware offices in the growing CRE CLO space."   ]]>
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<![CDATA[Maples and Calder Top Ranked in Chambers High Net Worth]]> As a continued testament to the strength and market leading expertise of Maples and Calder in the international trusts and private client industry, the firm is pleased to announce that it has been recognised once again within the latest edition of the Chambers High Net Worth (HNW) Guide.

The firm maintained its Band 1 ranking in the "Offshore: Trusts - Cayman Islands" category, under which partner Morven McMillan and associate Maxine Bodden were ranked within Band 1 and Associates to Watch, respectively. 

Partner Ray Davern, located in Maples and Calder's London office, was recognised under the "Offshore: Trusts – Cayman Islands (Expertise Based Abroad)" category.    Morven, who is head of Maples and Calder's Cayman Islands Trusts group and whose expertise covers contentious and non-contentious trusts and private client work, is described as a "top-level litigator, down to earth and practical" who "defends her clients strongly and has a good knowledge of the law" and is "widely respected across the international market and a go-to for any high net worth person who needs litigation in Cayman".  Separately, Morven has also been recognised once again in Legal Week's Private Client Global Elite 2018 as a premier trusts and private client lawyer. 

The Private Client Global Elite serves as a highly respected global directory of the world's top private client and trust disputes talent. Ray is noted within the Chambers HNW 2018 edition as having "a long track record offshore" and being "intellectually superior, but couples that with a commercial approach and that makes him a very attractive option.  He is down-to-earth and realistic, and gives practical, proper, sensible advice."  

Maxine received praise for being "very tenacious" and "well connected in the Cayman Islands".  

Chambers HNW is published annually and covers private wealth management and related specialisms in key jurisdictions around the world, featuring in-depth editorial about the leading lawyers and law firms for wealthy individuals and families.

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<![CDATA[MaplesFS Supports Licensing of Oxbridge Re NS Reinsurance Sidecar]]> CIMA").

MaplesFS had responsibility for facilitating the regulatory license application for a Cayman Islands regulated Class C insurance company and will act as note registrar for the company moving forward. Its experienced team and breadth of knowledge in insurance management were key elements in Oxbridge Re NS’s decision to engage MaplesFS. This expertise allowed MaplesFS along with its affiliate, international law firm Maples and Calder, to play a critical role in liaising with CIMA on a unique and market leading structure. 

"We are happy to report the successful licensing of Oxbridge Re NS, and deployment of capital," said Jay Madhu chairman and chief executive officer of Oxbridge Re Holdings Limited. "We have been impressed with MaplesFS’ high touch approach and the knowledge and expertise they brought to the licensing process. Their support has been invaluable in helping us reach this milestone." 

"We are proud to have supported Oxbridge RE NS in the licensing process and look forward to continuing to support their business as it evolves and further developing our partnership," added Lesley Thompson, Vice President, Maples Fiduciary.]]>
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<![CDATA[Maples and Calder Wins Award at 2018 Global Restructuring Review Awards]]> Maples and Calder has once again been recognised for its cross border restructuring expertise on the successful restructuring of Ocean Rig UDW and three of its subsidiaries comprising US$3.7 billion of financial indebtedness.

Following the firm's recent success at the 10th Annual International M&A Advisor Awards in May 2018, where Maples and Calder won "Restructuring of the Year ($1B - $5B)" and "Energy Deal of the Year", the firm has now received the award for "Innovation in Cross-border Insolvency and Restructuring" for its work on Ocean Rig at the GRR Awards 2018. The GRR Awards take place annually and recognise the most important developments in cross border insolvency and restructuring. In addition to being the largest Cayman Islands cross border debt restructuring, the transaction involved the first ever Cayman Islands schemes of arrangement of foreign incorporated companies and pre-filing COMI shift, and the first use of a Cayman Islands STAR trust in a restructuring.

Maples and Calder acted as lead counsel for the Ocean Rig debtor companies in the Cayman Islands and Orrick Herrington & Sutcliff acted as onshore counsel. Eleanor Fisher of Kalo and Simon Appell of AlixPartners London acted as joint provisional liquidators advised by Sidley Austin and Ogier. The Maples and Calder Cayman Islands team was led by Partners Caroline Moran, Sherice Arman and Of Counsel Nick Herrod, with Associates Christian La-Roda Thomas and Amanda Lazier. Trusts advice was provided by Partner Ray Davern and Associate Alex Way, corporate advice by Partners Suzanne Correy and Daniel Lee and Irish regulatory advice by Partner Nollaig Murphy and Associate Jacqueline Diamond.

"We are delighted to be recognised once more for our work in this innovative and high profile Cayman Islands restructuring. It further demonstrates our ability to provide first class legal advice in this area," commented Aristos Galatopoulos, Partner and global head of Maples and Calder's Insolvency practice.

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<![CDATA[Maples Advises First Aviation Company to Enter Maritime & Aviation City]]> CEC") Maritime & Aviation City. 

The team, led by Partner Wanda Ebanks and Associate Barnabas Finnigan, advised on the Cayman Islands aspects of CHC's migration from British Colombia to the Cayman Islands and its ultimate conversion to and registration as a Special Economic Zone Company within CEC's Maritime & Aviation City.

The Maritime & Aviation City is the latest services park to gain statutory approval within CEC's product offering, under the Special Economic Zone Law. 

CHC Helicopter has its corporate headquarters in Dallas, Texas and is one of the largest helicopter services companies in the world, specialising in transportation to offshore oil and gas platforms, civilian search and rescue operations and air medical evacuation.

CHC's Special Economic Zone Company enables CHC to undertake strategic operational functions integral to the company's worldwide business activities from the Cayman Islands.

"We are pleased to have been instructed to act on behalf of our long-standing client, CHC in this matter," said Mark Western, Partner and global head of Asset Finance at Maples and Calder. 

"While the transaction further evidences the depth of experience and know-how of our Asset Finance team it also showcases the broader technical competencies we are able to offer that are distinct from our core Asset Finance practice, such as advising on a number of areas of local law and licensing."]]>
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<![CDATA[Maples and Calder Wins Two Awards at the 10th Annual M&A Advisor Awards]]> Maples and Calder has been recognised for their recent Cayman Islands and Irish legal advice to Ocean Rig UDW and three of its subsidiaries on the successful restructuring of US$3.7 billion of financial indebtedness.  The complex and cutting edge restructuring, which is the largest ever Cayman Islands cross border debt restructuring, secured the firm "Restructuring of the Year ($1B - $5B)" and "Energy Deal of the Year" at the 10th Annual M&A Advisor Awards.

The M&A Advisor Awards recognise excellence in deal making, restructuring and financing, celebrating the contributions and achievements of leading firms and professionals. An independent judging panel of industry experts evaluated over 250 nominations from across the world from a wide and varied group, with deals valued from $10 million to tens of billions. 

In addition to being the largest Cayman Islands cross border debt restructuring, the transaction involved the first ever Cayman Islands schemes of arrangement of foreign incorporated companies and the first use of a Cayman Islands STAR trust in a restructuring.

The Cayman Islands team was led by Partners Caroline Moran, Sherice Arman and Of Counsel Nick Herrod, with Associates Christian La-Roda Thomas and Amanda Lazier. Trusts advice was provided by Partner Ray Davern and Associate Alex Way, corporate advice by Partners Suzanne Correy and Daniel Lee and Irish regulatory advice by Partner Nollaig Murphy and Associate Jacqueline Diamond. 

"We are honoured to be recognised by M&A Advisor for our role in this groundbreaking Cayman Islands restructuring.  These awards are a further endorsement of our expertise and ability to provide unrivalled legal advice in this area," commented Aristos Galatopoulos, Partner and global head of Maples and Calder's Insolvency practice.

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<![CDATA[New Arrivals at All Levels as Maples Expands BVI Litigation Practice]]> Maples and Calder welcomes senior lawyer Alex Hall Taylor to its growing British Virgin Islands office. Formerly a barrister at leading English Chambers 4 New Square, Alex joins as a Partner in Maples and Calder's BVI litigation practice, teaming up with Partner Adrian Francis, who joined the firm from Three Stone Chambers in October 2017. 

Richard May, Managing Partner of Maples and Calder's BVI office said:  "It is a real testament to the BVI and to our firm, that lawyers of the calibre of Alex and Adrian have joined our BVI litigation practice as the BVI continues its recovery from last year's hurricanes. 

Alex and Adrian have the experience and expertise inside and outside the courtroom to take our litigation practice from strength to strength." It is not just at partner level that the firm has been recruiting.  Litigation Associate Carl Moran has just completed a permanent transfer to the BVI from Maples and Calder's Dublin-based litigation team after a successful secondment to the BVI in 2017.  BVIslanders and law graduates Andrea Walters and Lenore Faulkner have also recently joined the litigation team as Paralegals, with Ms Walters being admitted as a barrister of the Eastern Caribbean Supreme Court (British Virgin Islands) on 3 May 2018. 

Adrian Francis added:  "The recent hires reflect the increasing volume of disputes work in the BVI.  With a nine-strong team of litigation fee earners based in the BVI, we are well positioned to service this work to the highest standard."

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<![CDATA[MPMF Selected to Provide Designated Persons to LGIM Managers (Europe) Limited]]> MPMF Fund Management (Ireland) Limited ("MPMF"), the Maples Group’s alternative investment fund manager and UCITS management company, has announced its engagement with LGIM Managers (Europe) Limited ("LGIM MEL") to provide designated persons to support its Irish management company.

LGIM MEL is part of the LGIM Holdings group, which includes Legal & General Investment Management ("LGIM"), one of Europe’s largest asset managers and a major global investor.  LGIM works with a wide range of clients including pension schemes, sovereign wealth funds, fund distributors and retail investors. MPMF has an experienced team of investment and risk management professionals and designated individuals with in-depth knowledge of finance and operations, regulatory and compliance matters. This expertise, coupled with MPMF’s customisable approach, high-touch client service and robust infrastructure, were key elements in LGIM MEL’s decision to engage with MPMF. MPMF has been a critical partner, working with LGIM MEL during the management company isation process and now providing designated persons to fulfil all of the management functions as required by the AIFMD and the UCITS directives for LGIM MEL’s Irish and Luxembourg-domiciled funds.

Setting up in Ireland ensures that LGIM MEL will be well positioned to seamlessly serve its existing and future clients, both in Ireland and across the EU. "On behalf of the MPMF team, we are proud to support LGIM MEL in establishing their Irish management company," said Catherine Lane, Director and Senior Vice President, MPMF.

As demands from global regulators and investors have become more complex, so has the role of independent management oversight and the fulfilment of compliance requirements. We are proud to support LGIM MEL in this capacity and look forward to continuing to deliver a high calibre of service and further developing our partnership."

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<![CDATA[Maples Announces Corporate Partnership with National Gallery of Ireland]]> Maples and Calder is pleased to announce a new corporate partnership with the National Gallery of Ireland where the firm will support the newly branded Creative Space in the Gallery’s Atrium.

The Gallery’s Creative Space offers visitors a valuable opportunity to be creative in the heart of the gallery. It’s a chance to sit, talk, relax, and imagine in a space that is open to all. Maples and Calder's support will enable the Gallery to improve and enhance the space, as they continue to create welcoming and inclusive experiences for everyone.

Launching the partnership, Sean Rainbird, Director of the National Gallery of Ireland, and Nicholas Butcher, Managing Partner at Maples and Calder, visited the Creative Space and engaged in art-making using the materials on offer. 

"Maples and Calder is delighted to announce our corporate partnership with the National Gallery of Ireland," said Nicholas Butcher. "Supporting this world-class cultural institution underscores our commitment to investing in and connecting with our community. We are particularly pleased to support the Gallery's Creative Corner, an area open to all, where families can come to enjoy the wonderful space the Gallery offers, encouraging young minds to explore and stretch their creative potential."

Sean Rainbird added: “We are delighted that Maples and Calder has signed up as a Premier Corporate Partner of the National Gallery of Ireland for three years. We are building our Corporate Partnership Programme to assist in the longer term development of our programmes. Maples and Calder has become the first legal firm to join us as Partners.

Their great support means that we can invest more widely in our programmes to engage and inspire people of all ages in our national collection of art and visiting exhibitions.” The Maples and Calder Creative Space is open during Gallery Opening Hours.

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<![CDATA[Maples Group Acts on Aircraft Securitisation for Sapphire Aviation Finance]]>
The offering consisted of three tranches of notes, all of which are listed on the Cayman Islands Stock Exchange and in respect of which Maples and Calder acted as Cayman Islands listing agent, plus E Notes and S Certificates.  Avolon will act as servicer to the portfolio.  MaplesFS Limited provided share trustee and related administration services.  

The Maples and Calder legal team in the Cayman Islands was led by partner Jonathon Meloy along with associates Anthony Philp and Barnabas Finnigan, while the Irish legal team was led by partner Donna Ager supported by of counsel Mary O'Neill and associates Laura Sharkey and Eoin O'Leary.

Global Head of Maples and Calder's Finance group, Mark Matthews, commented, "Having advised our longstanding client Avolon on its inaugural aircraft securitisation in 2013 it was a pleasure to advise them in their capacity as servicer for this deal, providing seamless trustee and administration support and Cayman Islands and Irish legal advice."]]>
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<![CDATA[Maples Fiduciary Appoints Guy Dominy as Director and Business Development in North America]]> Maples Fiduciary, a leading global provider of specialised fiduciary and corporate administration services and division of MaplesFS, has announced the appointment of Guy Dominy as Director, Business Development in North America.

Mr. Dominy brings extensive buy and sell side experience in the asset management industry, including senior roles at private equity fund managers and fund administrators. In his most recent role he was Managing Director and head of the US business development team of a global asset services provider, responsible for US growth strategy, product development and sales of all divisional and group business lines. He also brings considerable advisory experience as a funds lawyer at major international law firms.

He received a Joint Honours Bachelor of Arts degree in Law and German from the University of Nottingham and completed the Legal Practice Course at Nottingham Law School.As a result of its long-established reputation for technical excellence and regulatory expertise and unique approach to client service, Maples Fiduciary has been long recognised as one of the premier service providers in the industry. The addition of Mr. Dominy serves to support Maples Fiduciary's continued growth and bolsters the firm's market expertise.

Mr. Dominy will work closely with Peter Huber, Global Head of Maples Fiduciary, to drive the growth of the fiduciary services business across North America."The addition of Guy to our team underscores our commitment to continuing to grow our presence in North America and we are confident that he will help us capitalise on new opportunities in this dynamic market," said Huber. "He brings a depth and breadth of industry knowledge and practical experience that will be invaluable to enhancing the already outstanding service offering we provide to our clients."

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<![CDATA[Maples and Calder Given Top Tier Rankings by Chambers Global 2018]]> Chambers has released its 2018 Global guide to the world's leading law firms and Maples and Calder has secured top spots for nine practice groups across six locations. The firm continues to achieve high rankings in both the individual lawyer and practice group categories, with 65 individual lawyer rankings in this edition.

The guide, which recognises Maples and Calder as an, 'elite' law firm, published reviews received across the firm's global client base. Endorsed as, 'an offshore heavyweight,' Maples and Calder is described by clients as, 'an extremely strong global firm'. Maples and Calder's international offices have been also been commended as 'standout experts' in Asia as well as having, 'great levels of client service' in the BVI. In addition, clients in Ireland noted that the firm is seen as a 'go-to' for Irish funds.

Global Managing Partner, Alasdair Robertson (who is among the recommended lawyers), commented, "We are delighted to receive these rankings from Chambers 2018 and to be counted among the top tier legal service providers in the world. Our clients' opinion of us is most important and knowing that both clients and peers speak so highly of Maples and Calder is validation of all the hard work and effort put in by each of our lawyers."

Chambers Global covers over 190 countries across the world. The first Chambers rankings were published in 1990 and the guides currently research over 185 jurisdictions worldwide. Individual lawyers are ranked on the basis of their legal knowledge and experience, their ability, their effectiveness, and their client-service. Law firm departments are ranked on the qualities of their lawyers as well as the effectiveness and capability of the department as a whole.

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<![CDATA[Maples Advises on Debut Aircraft Bond Transaction]]> Maples and Calder advised WAVE 2017-1 Limited (the "Cayman Issuer") and WAVE 2017-1 LLC (the "US Issuer"), on the Cayman Islands legal aspects of the US$578.4 million portfolio finance transaction relating to approximately 19 aircraft on lease to a variety of operators located across 14 countries.

The Cayman Issuer and the US Issuer co-issued three tranches of notes which are listed on the Cayman Islands Stock Exchange (the "CSX"), and in respect of which Maples and Calder also acted as Cayman Islands listing agent.  This transaction, WAVE 2017-1, is the debut bond transaction for Wings Capital Partners LLC, a commercial aircraft lessor focused primarily in single aisle, in-production commercial jet aircraft. 

The Maples and Calder team was led by Partner, Jonathon Meloy, and Associate, Barnabas Finnigan. Associate, Jonathan Brown, also provided assistance on the CSX listing.

Jonathon Meloy commented, "We are pleased to have advised Wings on its inaugural bond issuance.  Maples and Calder's continued involvement in similar transactions highlights the unrivalled experience and strength of our team as acting Issuer counsel ".

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<![CDATA[Maples Group Advises Aergen on US$579.8 Million ABS]]> HAIL", the "Borrower"), which was completed on 15 November 2017.

The deal is backed by 30 in-production narrow body aircraft.  Proceeds from the HAIL 2017 issuance will effectively refinance Aergen's debut asset backed securitisation, which was launched in July 2016 to refinance 19 narrow body aircraft and on which Maples and Calder and MaplesFS also assisted. 

MaplesFS is the Managing Agent, Wells Fargo Bank, N.A. is the security trustee and DVB Bank SE, London Brach is the liquidity facility provider.  Maples and Calder provided Cayman Islands legal advice and support to the Borrower through its Cayman Islands office and also provided Irish legal advice to the Managing Agent through its Dublin office. 

In its role as Managing Agent, MaplesFS will provide cash management and calculation services, issue monthly reports to loan holders and investors and offer a complementary suite of company secretarial and corporate administration services to the Borrower group.  In addition, MaplesFS is engaged to provide directorship services to the board of the Borrower entity and to each of its subsidiary entities.

The Maples and Calder team in the Cayman Islands was led by Partner Tina Meigh and Associates Shari McField, Barnabas Finnigan and Jonathan Brown.  The Irish legal team was led by Partner Donna Ager with assistance from Associates Andrew Lawless and Alex Walsh.  The MaplesFS team in Dublin included Julian Dunphy, Paul Griffin, Jarlath Canning and Mark Gordon.

Partner Tina Meigh, commented: "Our continued work on ABS transactions such as this highlights the seamless multi-disciplinary and cross-jurisdictional expertise the Maples group provides for our clients.  We are delighted to have assisted Aergen once again and we look forward to continuing our work with them." 
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<![CDATA[Maples and Calder Retain Position as Ireland's Number One Funds Adviser]]> Leading international law firm, Maples and Calder ("Maples") has retained its position as number one legal adviser to Irish-serviced funds for the fifth consecutive year by the Monterey Insight Report 2017.

The findings in the recent report also highlight that for the eighth year in a row, Maples are acknowledged as market leaders in the establishment of new Irish domiciled funds with a 21% share of new business.

As well as being credited for the volume of funds advised on and the establishment of new funds, this year, Maples and Calder were also ranked as the number one listing sponsor for the total number of funds listed on the Irish Stock Exchange.

Peter Stapleton, Head of Investment Funds in Maples and Calder's Dublin office commented on the results: "We are delighted to be ranked as the number one legal adviser to Irish-serviced funds for the fifth year in a row. In addition to retaining this overall ranking, we continue to grow and, for the eighth year in succession, have advised on more new fund launches than any other firm. To see these incredibly positive results year-on-year is testament to the expertise and dedication of our Funds team.

He continued: "We are very grateful to all of our clients and their international advisers who have worked with us to successfully launch some of the most innovative investment fund structures from Ireland during a period of immense legal, regulatory and tax reform. At Maples, we offer our clients world-class legal and regulatory advice complemented by global registration services, listings, management company solutions and the full range of business lines at our affiliate MaplesFS, which is truly unique in the market and we look forward to further growth in 2018."

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<![CDATA[Maples and Calder Extends Irish Legal Offering to London]]> Leading international law firm, Maples and Calder has announced that it has extended its Irish network to London, in a move that will see three key partners providing Irish transaction advice to UK-based clients. 

The new offering will continue the law firm's drive to provide a full service solution across all its practice areas with the team being located at the same Aldersgate Street address as its existing London office. With an increased focus on the international requirements of UK based clients in light of recent EU developments, as well as a natural evolution of its intention to deliver legal advice on its clients' doorstep, this is a timely move for Maples and Calder.

Nicholas Butcher, Managing Partner of the Dublin office, said, "This is an exciting development for our Dublin and London practices as well as for the international firm as a whole.  It further extends our global Irish network and complements our existing Irish practices in the Cayman Islands and Hong Kong.  It also demonstrates our commitment to London and UK-based clients and referrers and underscores our collaborative approach to advising clients alongside their existing UK advisers with respect to Brexit and other European advice needs."

Previously based in Dublin, partners Donna Ager, head of the firm's European aviation practice, and Adam Donoghue, investment funds specialist, are now located in London on a permanent basis as part of the new structure.  Ager and Donoghue are recognised as leading ities in these areas and will greatly enhance Maples and Calder's ability to provide Irish law advice to UK clients as well as global institutions based in London. 

They are joined in London by international corporate lawyer, Nigel Wilson, whom Maples and Calder is pleased to announce has commenced with the firm as a partner.  Formerly a partner with Davis Polk & Wardwell, Nigel brings over 20 years of multi-jurisdictional corporate and securities experience to the team, having represented corporate clients and global financial institutions in a broad range of transactions. 

London office Managing Partner, Paul Govier, said, "I am delighted with this initiative.  It will further enhance the close relationship between our BVI, Cayman Islands and Irish teams as, for the first time, we will have all three jurisdictions represented under one roof in London.  This is consistent with our long-standing approach of providing an integrated service to all clients of the international law firm and our affiliate, MaplesFS, regardless of jurisdiction.  To have three Irish partners of such high calibre join us in London is only the start."

Addressing the hire of Nigel Wilson, Butcher said, "We are thrilled Nigel has joined us.  He brings a wealth of insight and experience to our global client base and his hire evidences not only our serious approach to extending our Irish practice to London but also our commitment to broadening our international presence."

Wilson added, "It is a very exciting opportunity for me to join Maples and Calder.  I look forward to working with all my new partners globally, not only to develop the Irish practice in London, but also to add to the firm's international offering.  Maples and Calder has a tremendous referral network and from London I will be ideally placed to build upon and add to that."

In addition to BVI, Cayman Islands and Irish legal services, the Maples group also provides specialised fiduciary, corporate administration and entity formation and management services through MaplesFS, which has a global presence in 15 locations, including Dublin and London. 

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<![CDATA[Maples Advises Aergo Capital on US$584.8 million ABS]]> Maples and Calder advised Aergo Capital ("Aergo") and its issuer vehicles, METAL 2017-1 Limited (the "Cayman Issuer") and METAL 2017-1 LLC (the "US Issuer" and together with the Cayman Issuer the "Issuers"), on the US$584.8 million debut asset backed securitisation transaction, Metal 2017-1, which closed on 6 November 2017.

The Issuers will use the proceeds from the sale of the notes to acquire a portfolio of 26 aircraft with an appraised value of approximately US$688 million from Aergo, which will in turn use such proceeds to refinance existing loans. 

The offering consists of four tranches of notes, all of which are listed on the Cayman Islands Stock Exchange (the "CSX"), and in respect of which Maples and Calder also acted as Cayman Islands listing agent.  Aergo will act as servicer for the aircraft portfolio.  MaplesFS Limited provided share trustee and related administration services.

The Maples and Calder team was led by Partner Jonathon Meloy, and Associates, Barnabas Finnigan and Shari McField.  Associate, Jonathan Brown, also provided assistance on the CSX listing.  In addition, Partner Christie Walton and Associate Tim Coak provided advice to the sellers.

Mark Western, Head of Asset Finance at Maples and Calder, commented: "We are delighted to have advised Aergo on their debut ABS issuance. Transactions such as these highlight Maples and Calder's unmatched experience as counsel to ABS Issuers and the high calibre of work our lawyers continuously achieve."

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<![CDATA[Maples Drives Largest Ever Cayman Islands Cross Border Restructuring]]>
Maples and Calder advised on all Cayman Islands and Irish law aspects of the restructuring.  The Cayman Islands team was led by Partners Caroline Moran, Sherice Arman and Of Counsel Nick Herrod, with Associates Christian La-Roda Thomas, Grace Boos and Amanda Lazier.  Trusts advice was provided by Partner Ray Davern and Associate Alex Way, corporate advice by Partner Suzanne Correy and Associate Daniel Lee and Irish regulatory advice by Partner Nollaig Murphy and Associate Jacqueline Diamond. 

Accounting support services were provided by MaplesFS to a Cayman Islands subsidiary specifically incorporated by Maples and Calder for purposes connected to the restructuring. 

"We are pleased to have played the leading role in this monumental and ground-breaking Cayman Islands restructuring.  The complex cross border nature of the deal highlights the unparalleled strength and expertise of our global team and the seamless legal and support services we can provide our clients," commented Partner and global head of Maples and Calder's Litigation and Insolvency practice Aristos Galatopoulos.

Further details on the decision can be found here. ]]>
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<![CDATA[Maples and Calder Hong Kong Recruitments Bolster Capabilities]]> The Hong Kong office of international law firm, Maples and Calder, continues to expand its service offering in Asia with the recent recruitment of six experienced individuals. 

The recruitment of Everton Robertson, Stacey Yuan, David Wang, Jaron Jiao and Sarena Gong brings an unrivalled range of expertise and reinforces Maples and Calder's position as a premier service provider in the region. 

Everton, who returns to the firm's Hong Kong office, is recognised by his peers and respected industry directories and journals.  He has extensive experience and expertise in finance and private equity law, advising major Asian corporations, financial institutions and private equity firms on a wide range of legal matters. 

Earlier this year, Maples and Calder also welcomed back Matt Roberts as a partner in the Corporate team.  Specialising in corporate and funds matters, Matt has considerable industry experience advising on the life cycle of corporate structures and offshore investment funds. 

"These recruitments represent a significant expansion of our Hong Kong office; enhancing our Mandarin speaking capabilities and ability to service clients in the PRC," said Mark Western, Managing Partner of the firm's Hong Kong office.  "We are also very pleased to welcome Everton and Matt back to the Maples group, which has experienced substantial growth since they were first with us many years ago.  Their return highlights our appeal within the industry as an organisation with a full service offering of legal, fiduciary and fund administration services provided by the collective Maples group, which includes Maples and Calder and MaplesFS." 

With over 20 years in the region, the Maples group also expanded into Singapore within the last five years, establishing its law offices in 2012 and a year later, opening the doors of Maples Fiduciary and Maples Fund Services (operating divisions of MaplesFS). 

The expansion of office locations and strategic hires within the Asia region reflects the group's ongoing commitment to providing clients with the highest standards of legal advice, company formation and administration services.

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<![CDATA[Maples and Calder Recruits Senior BVI Litigation Partner]]> Maples and Calder is pleased to announce the recruitment of Adrian Francis, formerly a barrister at Three Stone in London.  Adrian joins as a partner in the firm's BVI Litigation and Insolvency practice. 

Adrian has extensive experience working in large cross border teams on high value, complex international disputes.  He was called to the Bar in England and Wales in 1988 and has also been called to the Bar of the Eastern Caribbean Supreme Court (BVI). 

Following the passage of Hurricane Irma in early September, a number of Maples and Calder's BVI team members have temporarily relocated to the firm's Cayman Islands office.  Adrian will also be temporarily based in the Cayman Islands pending the approval of his BVI work permit and his permanent move to the BVI. 

Aristos Galatopoulos, Maples and Calder's global head of Litigation and Insolvency, said:  "We are delighted to welcome Adrian to the firm and to our growing BVI partner base.  Adrian is a first class, senior lawyer and advocate with plenty of BVI experience, and who will help our top tier BVI Litigation and Insolvency team go from strength to strength.  It should go without saying that Maples and Calder is committed to helping the BVI return to normal after the devastating effects of Irma last month."

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<![CDATA[Group Statement from the Alliance of BVI Professional Services Businesses]]> Group statement from the Alliance of BVI Professional Services Businesses, representing the legal and professional services firms with operations in the BVI:

“Our thoughts remain with all those who have been affected by Hurricane Irma across the region. This is a challenging situation for the BVI and its 30,000 residents, and our priority continues to be the well-being of all residents who remain in the BVI and those who are affected by the damage caused by Hurricane Irma. We have a team of individuals from across our firms working around the clock to provide support, communications and practical help to ensure the people of the BVI and the jurisdiction recover as quickly as possible.  

“Our respective businesses are supporting the BVI Government and enormous humanitarian relief effort required to support the people of the BVI at this time. As a group, we support the BVI Hurricane Irma Relief Fund.  

“As leading private sector businesses we are also committed to doing as much as we can to minimise the disruption caused to the BVI’s business sector following the hurricane, which plays an important role in the global economy and helps facilitate international trade and finance. The BVI Government has already made significant progress in re-establishing critical business systems and facilities, which will be crucial in the sector’s continued recovery.

“Both the BVI Government and BVI Finance have confirmed that the BVI Financial Services Commission, housing services such as the corporate registry and its online company registration portal VIRRGIN, are operational. In addition, the BVI’s beneficial ownership information portal (BOSSs) was unaffected by the hurricane and is also operational. These are major components in getting services back up and running, business recovery and ensuring continuity of service. We will continue to update on progress.

“In the meantime, we would like to reassure our clients, partners and business contacts that we have implemented our respective business continuity plans and are able to facilitate transactions and provide advice for our BVI clients via our global offices and people around the world, until businesses can substantively return to the BVI.

“Many have temporarily relocated staff from the BVI to their offices in Asia, the Cayman Islands and Europe, and some are working alongside BVI qualified colleagues permanently based overseas. We are also working with local BVI businesses which do not have global offices, to support them in getting back up and running. 

“We would like to extend our thanks for the many messages of support and offers of assistance we have all received from business partners across the world.

“Relatives looking for information on any of our employees currently in the BVI (from the firms listed below), please contact those firms through the contact methods listed on their respective websites. Clients, partners and business contacts looking for information, please visit the firms' websites for further details.”

For journalist queries, please contact:


Lansons team, acting on behalf of the Alliance of BVI Professional Services Businesses

Tel: +44 (0)20 7566 9773

E-mail: LansonsBVI@lansons.com 

Firms in the Alliance of BVI Professional Services Businesses:

  • Mourant Ozannes

  • Appleby

  • Baker Tilly

  • Carey Olsen

  • Forbes Hare

  • Harneys

  • Kalo

  • Maples and Calder

  • Nerine

  • Ogier

  • PricewaterhouseCoopers

  • Rawlinson & Hunter

  • Walkers

Notes to editors

  • The Alliance of BVI Professional Services Businesses are committed to rebuilding the British Virgin Islands (BVI).  The welfare of the Islands and the people who call the Islands 九游娱乐电玩城home are of the utmost priority.

  • For further information on the British Virgin Islands, please click here.

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<![CDATA[Update on the British Virgin Islands]]> On 6 September 2017, the British Virgin Islands sustained considerable damage during the passage of category 5 Hurricane Irma. In the aftermath of the storm, we have worked diligently to assess the situation and would like to reassure clients that all is well with regard to the well-being of our staff members and our ability to continue offering services to our BVI clients.

Our People

We are pleased to report that all of our BVI colleagues have been located and are safe. As expected, there has been considerable damage to personal 九游娱乐电玩城homes and property and we are in the process of relocating a number of BVI staff members to our other offices together with their families.

Business Operations

We have activated our business continuity plan to service our BVI clients remotely, utilising our global network of BVI-qualified lawyers.

While our BVI office, located in Road Town, sustained minimal damage, the telecommunications and utilities infrastructure was compromised, and we are continuing to assess the impact that this will have on our ability to re-establish communication and full operations from our BVI office in the short term.

Financial Services Industry

While there has been widespread damage, the Financial Services Commission (which houses a number of services, such as the corporate registry) is intact and secured. 

The BVI Financial Services Commission announced that its online company registration portal, VIRRGIN, has been restored and they have been responsive to our business requests. 

Efforts are continuing to get the BVI's busy courts operational as soon as possible. 

The BVI's business sector plays an important role in the global economy and the BVI government has recognised the cooperation of the private sector to rebuild the country, expecting a full recovery over time. 

Humanitarian Response

Our endeavours to deliver the vital support and assistance that is needed are ongoing so that we can offer some relief to those who have been impacted by the hurricane. 

We are aware of a number of humanitarian agencies that are focused on providing immediate assistance to the BVI in a variety of ways and we are supportive of their efforts. The BVI government has established a crowd-funding initiative, "BVI Hurricane Irma Relief Fund", facilitated by Just Giving and the Maples group, along with many other firms within the financial services sector, are doing our part to help the BVI in its time of need. 

Looking Forward

While the BVI is facing a number of challenges in the coming months as the jurisdiction sets about rebuilding and returning to normal, we are confident that it will be business as usual for our clients.
We will continue to work with the BVI government, the relevant agencies and the business sector to ensure that there are no significant disruptions to client business.  We will utilise our global resources as needed to work efficiently and effectively to facilitate transactions and advice required by BVI clients. 

All other offices of Maples and Calder are open for business as normal and able to assist you. 

The primary contacts at our other locations are listed above.

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<![CDATA[Maples and Calder Expands Process Agency Services from London]]> Maples and Calder has expanded its UK Process Agency Services from London to include an online appointment service. Managed by a dedicated team who are available 24/7, the Maples group offers a unique advantage for clients who require a third party to accept legal proceedings on their behalf.

Provided primarily through our London office (although also available through our other offices), the Maples group is able to accept service of process on a client's behalf for all types of transactions. The dedicated team are able to guide clients through the appointment procedure and customise documentation to suit the terms of a particular transaction. These services are available, whether or not our lawyers are advising on the relevant transaction, or other services are being provided by our affiliates. 

For further information on our Process Agency services, including pricing, click here.

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<![CDATA[MaplesFS Recognised as Top Tech Innovator for Institutional Investors and Fund Managers]]>  
Institutional Investor’s Tech 40 List for the sixth consecutive year. This global ranking spotlights the financial services industry’s visionaries, innovators and leaders. These individuals have a keen understanding of the macro implications of technology-driven change and are relating these developments to address the operational and strategic challenges of their own organisations and those of their clients. 

MaplesFS was recognised for specific achievements in the evolution of its offering to the institutional investor marketplace. As pension funds, endowments, foundations, OCIOs and family offices are increasing allocations to alternative strategies, they require recordkeeping, data aggregation and risk reporting solutions at higher volumes and levels of sophistication. These solutions enable allocators to enhance their risk management and governance practices and give them the capabilities needed to access and implement their investment managers’ best ideas. Simultaneously, MaplesFS has made significant investments to bolster its technology solutions for managers, particularly those in the marketplace lending and private equity sectors.

"MaplesFS has established a strong track-record of technology excellence in providing innovative solutions for fund managers on one hand, and for institutional investors on the other," said Kim. "It is time to bring it together and focus on solutions that enable allocators and managers to achieve even greater alignment and collaboration through the next market cycle."

The annual feature was compiled by Institutional Investor’s editors and staff with nominations and input from industry participants and experts. Consideration for inclusion on the list includes an evaluation of four primary sets of attributes: achievements and contributions over the course of a career; scope and complexity of responsibilities; influence and leadership inside and outside the organization; and pure technological innovation.

Read more.

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<![CDATA[Maples and Calder Partner Recognised Among International Trusts & Private Client Lawyers]]> Maples and Calder is pleased to announce that partner Morven McMillan has been awarded a prestigious nomination in Legal Week's Private Client Global Elite 2017

The list aims to highlight the premier trusts and private client lawyers around the world. Re-launched this year, the Private Client Global Elite 2017 received over 4,000 submissions across 19 jurisdictions, but only the top 5%, as identified by peers and the ALM editorial board, were awarded inclusion to the list. 

Submissions were evaluated by the number of nominations from peers, practitioner depth and breadth of experience, their international work and number and quality of international nominations outside the entrant's 九游娱乐电玩城home jurisdiction.  "I am honoured to have received this recognition from my peers in the industry," commented Morven. "and I extend my congratulations to my fellow recipients.

I am particularly pleased to see a number of my colleagues from the Cayman Islands nominated, which is a credit to our continuing success in the international arena."  Morven McMillian joined Maples and Calder in 2016 and is head of the firm's Cayman Islands Trusts and Private Client practice.  Her expertise includes contentious and non-contentious international trusts and private client work.  Morven is a member of the Society of Trust and Estate Practitioners (STEP), Association of Contentious Trust and Probate Specialists (ACTAPS).

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<![CDATA[Maples Fund Services Supports Award-Winning Serica Credit Balanced Fund]]> Maples Fund Services, a leading independent global fund services provider and division of MaplesFS, has announced its engagement with Serica Partners Asia Limited ("Serica Partners") as administrator of the Serica Credit Balanced Fund. 

Maples Fund Services provides a full range of administration services to the Serica Credit Balanced Fund which was recently recognised as the Best Asian Hedge Fund and Best Asian Fixed Income Fund at the prestigious Eurekahedge Asian Hedge Fund Awards. Maples Fund Services' customisable approach and sophisticated infrastructure, coupled with the expertise of its team in working with credit funds, were key elements in Serica Partners' decision to transition from its former fund administrator.  

Serica Partners is a Hong Kong-based alternative asset manager which primarily focuses on investing in opportunities in fixed income and related strategies throughout the Asia region. Established in 2009, the Serica Credit Balanced Fund has received widespread acclaim for its strong track record and pioneering approach to investing. 

"Since the beginning of our engagement in June 2016, Maples Fund Services has demonstrated its ability to deliver a flexible and adaptable yet comprehensive and high quality service to our fund," said Ivan Lee, Founder and Portfolio Manager of the Serica Credit Balanced Fund. "Having previously been serviced by a larger bank owned administrator, we have been pleased with Maples Fund Services high-touch approach which has helped us realise significant efficiencies in our operations that have driven real business results." 

"On behalf of Maples Fund Services, I would like to congratulate Serica Credit Balanced Fund on its recognition at the Eurekahedge Asian Hedge Fund Awards," said Eastern Fong, Regional Head of Fund Services - Asia for Maples Fund Services. " We are proud to support one of the region's most established and successful managers and look forward to continuing to deliver the high caliber of service we've become known for and further developing our partnership with Serica Partners." 

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<![CDATA[Maples and Calder Lawyer Recognised Among Leading Women in Hedge Funds]]> The Hedge Fund Journal, in association with Ernst & Young, released the 2017 list of 50 Leading Women in Hedge Funds on Tuesday, 6 June at an industry reception in London. Among the impressive list of influential women was Maples and Calder partner, Tatziana Paraguacuto-Maheo, the second lawyer at the firm to ever receive this prestigious recognition which is based upon nominations from her peers in the industry.
 
Tatziana was one of only seven lawyers to be listed amongst the 50, which recognises leading figures in the global hedge funds industry. Also represented were portfolio managers, COOs, prime brokers, risk managers, allocators, finance directors, regulatory consultants, and researchers alongside those who work in sales, investor relations and marketing. 
 
The biennial report, the first of which was published in 2010, was produced from nominations gathered from industry experts based in Asia, the US and Europe. Once the shortlist was compiled, the publication had the difficult task of selecting the final 50 women, assisted by references from nominators.
 
Tatziana joined Maples and Calder in 2009. She advises UK and US law firms on Cayman Islands matters and specialises in structuring, establishment, ongoing maintenance and restructuring of investment funds, in particular hedge funds and private equity funds. She advises a range of investment managers, intermediaries and financial institutions but primarily represents entrepreneurial managers and leads a team who are the leading Cayman legal counsel for UK start-up hedge fund managers. 
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<![CDATA[Maples and Calder Acknowledged as Best ETF Law Firm in Europe]]> Leading international law firm, Maples and Calder, recently won the "Best ETF Law Firm in Europe" award at the 2016 ETF.com Europe Awards. The ETF accolade is awarded to the best lawyer or law firm to contribute to ETFs through diligent service, and by shepherding new and effective products into the marketplace.

ETF.com noted that "Maples and Calder is a huge player in the Ireland funds and ETF space." Commenting on the win, Partner and Head of Investment Funds in Ireland, Peter Stapleton said- "We are delighted to accept this award which recognises the expertise of our Dublin-based investment funds lawyers across a broad legal, regulatory and tax framework affecting ETFs. The award is also a testament to the success of many of the world's leading ETF providers who constantly challenge us to provide innovative and effective legal solutions to benefit their investors.  We are proud to represent these clients." 

According to the Monterey Ireland Fund Report 2016, Maples and Calder is the acknowledged market leader in the establishment of new Irish domiciled funds in Ireland with a 27% share of new business.  In addition, Maples and Calder is the leading ICAV legal adviser with approximately 32% market share for all ICAV funds ised by the Central Bank of Ireland, with a pivotal role at the very forefront of the Irish funds industry. 

The ETF.com Europe Awards are designed to recognise the people, products and firms that are driving the ETF industry forward and creating better outcomes for investors. Winners were selected by a majority vote from the ETF.com Europe Awards selection committee, a group of independent ETF experts from throughout the ETF community.

According to Irishfunds.ie Ireland accounts for about 56% of all European ETFs and in 2016 Irish ETFs had over $40 billion of net sales, more than 13 times the net sales of the next highest. 

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<![CDATA[Maples Fund Services Recognised for Reporting Solutions]]> Maples Fund Services has won the 'Best Administrator - Reporting Services' category at the 2017 HFM European Hedge Fund Services Awards. The annual HFM European Hedge Fund Services Awards recognises providers in the hedge fund space who go above and beyond to deliver exceptional customer service and innovative solutions to help solve the industry's most pressing challenges.

This is the seventh consecutive year that the firm has been recognised at the event for its outstanding performance and delivery of a best in class service offering to hedge fund clients. In addition, the team was shortlisted for awards in seven other categories at the ceremony which took place on Thursday 27 April at The Hurlingham Club in London.  '

Best Administrator - Reporting Services' is an exceedingly competitive category providing recognition to fund administrators, irrespective of AUA size, that deliver timely and accurate reporting to their clients.  The Maples group was further honoured with Maples and Calder winning the award for 'Best Offshore Law Firm.'

In today's market environment, managers are under pressure to meet the increasing requirements of global regulators while also delivering the highest levels of transparency to investors. As such, superior information delivery and the ability to access data from any location at any time has become critical. In addition to providing a comprehensive, full-service approach to regulatory compliance that supports AIFMD and Annex IV, EMIR, FATCA and CRS, Form PF, and UCITS reporting requirements, Maples Fund Services draws on its robust and flexible infrastructure to provide meaningful and sophisticated reporting that captures key metrics accurately in a clear and insightful manner to help contextualise and unlock the value of portfolio data, ultimately allowing managers to make more informed decisions.

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<![CDATA[Maples and Calder Advises Biohaven Pharmaceutical on US$195m IPO]]> Maples and Calder has advised Biohaven Pharmaceutical Holding Company Ltd ("Biohaven") on its initial public offering ("IPO") on the New York Stock Exchange, which closed in May 2017 at approximately US$195 million. 

The Maples and Calder team was led by BVI-based partners Richard May and Chris Newton with the assistance of associate Daniel Perkins.  "Transactions such as these highlight the flexibility of the BVI as a jurisdiction and the suitability of BVI entities for a wide range of uses, including IPOs," said Maples and Calder's BVI Managing Partner, Richard May.  "We are pleased to have assisted Biohaven on this significant achievement and look forward to continuing to work with them as the business progresses." A long standing client of the firm, Maples and Calder has acted as Biohaven's legal adviser since its incorporation and continues to advise the company on its corporate matters. 

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<![CDATA[MaplesFS Extends Trustee Offering to Bermuda]]> MaplesFS has received an unlimited trust license in Bermuda. From our office in Hamilton, Bermuda we will provide independent trustee services to alternative investment funds established as unit trusts, charitable trusts and private wealth trusts.

MaplesFS has made a number of senior hires to support the Bermuda office. As longstanding industry professionals in Bermuda, these individuals bring significant depth and experience in financial services, legal and compliance to the MaplesFS Bermuda team. In addition, they maintain the same commitment to providing the highest levels of support that MaplesFS is known for globally. Further details will be announced in due course. 

"The opening of MaplesFS in Bermuda is a natural extension of and complement to our existing global service offering," said Scott Somerville, Chief Executive Officer of MaplesFS. "We look forward to building our client base and expect to provide independent trustee services to a wider range of institutional and ultra high net worth clients who use Bermuda trusts."

 
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<![CDATA[Maples and Calder Announces New Partners]]> International law firm Maples and Calder, which advises on the laws of the Cayman Islands, Ireland and the British Virgin Islands, announces the appointment of four new Partners across its global offices.

The new partners in the firm's Dublin office include Deirdre McIlvenna and Alma O'Sullivan.  Ruairi Bourke and Aisling Dwyer were elected as Partners in the British Virgin Islands and Hong Kong offices, respectively. 

Global Managing Partner, Alasdair Robertson commented, "Each of these outstanding lawyers is a leader in their respective field and jurisdiction, and it is with great pleasure that we recognise their exemplary talent and dedication to providing exceptional client service.  We look forward to their continued success."

Additionally, the firm is pleased to announce the recent recruitment of Corporate Partner Chris Newton in the British Virgin Islands.

British Virgin Islands

Ruairi Bourke has extensive transactional experience and advises on a variety of corporate transactions, including mergers and acquisitions, joint ventures and corporate reorganisations.  He also regularly acts for financial institutions and borrowers in secured corporate financing transactions.  Ruairi joined Maples and Calder in 2012. Chris Newton has a broad corporate practice with particular expertise in banking, finance and restructuring transactions, including acquisition, real estate and funds finance, advising financial institutions, sponsors, investors and borrowers. 

Chris regularly advises high profile Canadian, Chinese, Russian, UK and US financial institutions and large corporates across a number of sectors, including education, energy and resources, healthcare, real estate, retail, telecommunications and transportation and logistics.  Prior to joining the firm Chris was with another international law firm in the British Virgin Islands.  Before moving to the BVI in 2012 Chris was a member of the Banking and Corporate Recovery team at Travers Smith in London, where he also trained.

Dublin

Deirdre McIlvenna has extensive experience advising clients on the establishment and operation of Irish regulated investment funds and advising on the significant legal and regulatory developments impacting this area.  She has strong expertise in UCITS regulation, in particular UCITS alternative investment funds and ETFs.  In addition, she has significant experience in alternative investment funds ised under the Irish AIFMD regime.  Deirdre joined Maples and Calder in 2011 from a large Irish corporate law firm.  Prior to that, she worked with State Street Fund Services (Ireland) Limited.

Alma O'Sullivan has experience advising on a range of finance transactions with a particular focus on banking and restructuring.  Alma joined Maples and Calder in 2010, having previously worked for a leading Irish law firm.

Hong Kong

A barrister by training, Aisling Dwyer specialises in complex, high value cross border litigation and acts in some of Asia’s largest offshore corporate, insolvency/restructuring and shareholder disputes.  She is an expert in contentious matters in both the Cayman Islands and the British Virgin Islands, and has a particular interest in take privates, statutory mergers, contentious valuations and schemes of arrangement.  Aisling joined Maples and Calder's British Virgin Islands office in 2009 and moved to the firm's Hong Kong office in 2011.  She previously worked for another firm in the BVI for two years and before that practised as a barrister in London.  Aisling is Co-Chair of the Hong Kong chapter of the International Women's Insolvency and Restructuring Confederation.

 

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<![CDATA[MaplesFS Announces Dublin Office Relocation]]> In response to continued business growth and expansion, MaplesFS will relocate its Dublin office effective 5 May 2017. 

Occupying the newly developed 32,000 square foot office space, centrally located at 32 Molesworth Street in Dublin 2, reinforces MaplesFS' commitment to expanding its already substantial presence in Ireland, which is expected to remain a leading global financial centre and jurisdiction for international business. The new space will facilitate continued business growth as well as allowing for significant future expansion.  

MaplesFS is a leading independent global provider of specialised fiduciary, fund administration, entity formation and management, and trust and private client services, as well as AIFM and UCITS management company solutions via MPMF Fund Management (Ireland) Limited, with more than 10 years on-the-ground presence in Dublin. In addition to having an established reputation for excellence, MaplesFS has played an active role in supporting the growth of the Irish alternative investment funds industry.  

"The new office makes us well positioned for continued strong growth in Ireland and underscores our commitment to investing in the resources necessary to support both our clients and our employees," said Scott Somerville, Chief Executive Officer of MaplesFS. "We remain committed to providing the gold standard in financial services solutions in Ireland and throughout Europe and look forward to this next chapter in our growth."

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<![CDATA[Maples Secures Top Ranks with Chambers and Partners]]> Chambers and Partners has released its much anticipated 2017 Global Guide, heralding Maples and Calder as an "elite firm that is agreed by sources to be a benchmark for quality in global offshore legal services". 

The top tier international law firm continues to make significant achievements in both the individual lawyer and practice group rankings.  According to the guide, "peers are unanimous in their praise for the firm, describing it as 'the competitor we respect most'" and "interviewees highlight its 'absolute dominance of the Cayman market,' as well as its 'good European and Asian coverage'." 

Among its impressive 54 individual lawyer rankings, Maples and Calder's Global Managing Partner, Alasdair Robertson, earned the distinguished rank of Eminent Practitioner, with sources describing him as a strong lawyer and "good spokesperson for the jurisdiction".  The firm, which has continued to maintain its Band 1 position in several legal directories, secured top spots for 21 practice group across all seven locations. 

With several new names added to the 2017 list as "up and coming" practitioners and "associates to watch", the guide also recognised the outstanding level of service provided by many of the honourees, moving them into a higher ranking than the previous year.  "We are very pleased with the results of this esteemed directory ranking," Robertson commented, adding, "It definitely resonates with the message we are receiving directly from clients who entrust us with their most complex and technical deals and often refer us to their own clients and associates.  We are committed to leading the charge for the industry and the various jurisdictions in which we operate." 

With a reputation based on its independence and objectivity, Chambers and Partners is well respected in the legal industry for its unbiased rankings of the world's best lawyers and law firms with leading international practices.  It has published guides to the legal profession since 1990.

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<![CDATA[Maples and Calder Advises Ocelot Partners Ltd on $425m IPO]]> BVI") company, in connection with its recent initial public offering ("IPO") on the London Stock Exchange. The special purpose acquisition company that successfully completed its $425m IPO is founded by LionTree Partners LLC, Andrew Barron and Martin E. Franklin.  Maples and Calder acted as BVI counsel to Ocelot Partners and the team was led by partner Matthew Gilbert and included associate Christopher Oliver. The Maples and Calder team worked closely with Greenberg Traurig Maher LLP, who acted as English counsel to Ocelot Partners.]]>/en/News/Deals-and-Client-Wins/2017/04/Maples-and-Calder-Advises-Ocelot-Partners-Ltd-on-$425m-IPO/en/News/Deals-and-Client-Wins/2017/04/Maples-and-Calder-Advises-Ocelot-Partners-Ltd-on-$425m-IPO<![CDATA[Maples Group Assists MJX Asset Management on First New-Issue CLO of 2017]]> MJX") on its dual compliant $528 million Venture XXVI CLO – the first new-issue CLO of the year globally.  The deal, which priced on 19 January 2017, was arranged by Jefferies and closed on 14 February 2017. 

In addition to providing Cayman Islands legal advice to the issuer and MJX, and listing services in Ireland, Maples and Calder also advised on the risk retention structure for the deal, which saw the Collateral Manager retain a 5% vertical strip in the issue in order to comply with risk retention requirements in both the US and Europe.  Maples Fiduciary in the Cayman Islands provides fiduciary services to the issuer. 

The Maples and Calder team was led by Partner Scott Macdonald and Associate James Reeve, while the Maples Fiduciary team was led by Senior Vice Presidents Andrew Dean and Cleveland Stewart. 

Mark Matthews, global head of Maples and Calder's Finance practice, commented: "We are pleased to have assisted our client with the first CLO to get out the door in 2017 and we look forward to continuing to work with MJX.  This transaction exemplifies the Maples group's comprehensive CLO offering, where we provide global legal, listing and fiduciary services for all aspects of a CLO manager's business."]]>
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<![CDATA[Maples Group Attends MIPIM 2017]]> Members of our Global Property & Construction and Finance teams from Maples and Calder and Maples Fiduciary will be attending MIPIM, the world's leading property market event, at Palais des Festivals in Cannes, France from 14–17 March 2017.

We offer advice on all aspects of commercial property and construction law.  The property market has undergone significant restructuring in recent years and the team has been at the forefront of this transition advising both domestic and international premium funds, banks and other institutions as well as leading international investors on the acquisition and disposal of loan portfolios and distressed assets.  

We are committed to delivering the highest quality service and advice on:

  • Financing, acquisition, management and disposal of real estate assets and loan portfolios;
  • Commercial landlord and tenant;
  • Construction law;
  • Investment acquisition and disposals (both commercial and residential projects);
  • Property and financing aspects of insolvency, restructuring and enforcement cases;
  • Public Private Partnership; and Real Estate funds.

We look forward to meeting you at the conference.  Please get in touch with your local Maples group contact or one of our MIPIM attendees listed above if you wish to set up a meeting.

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<![CDATA[Maples Fund Services Announces Boston Office Relocation]]> In response to continued business growth and expansion, Maples Fund Services has relocated its Boston office effective 1 January 2017. 

Led by Jason Brandt, Regional Head of Fund Services - Americas, the new office in Boston will support the delivery of Maples Fund Services' industry leading accounting, middle office, risk reporting and administration services to onshore and offshore hedge funds, fund of funds, private equity and real estate funds, family offices and managed account platforms. In addition, the office will accommodate significant future expansion, providing an enhanced work environment for current and future staff.

"As Maples Fund Services has solidified its reputation in the industry, demand for our tailored solutions and high touch client service continues to grow," said Scott Somerville, Chief Executive Officer of MaplesFS. "The new office makes us well positioned for continued strong growth in Boston and underscores our commitment to investing in the resources necessary to support both our clients and our employees." 

The new office is located in Boston's financial district at 470 Atlantic Avenue, Suite 306, Boston, MA  02210. All phone numbers and email addresses for employees in the Boston office will remain the same. 

 
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<![CDATA[Maples and Calder Ranked Number 1 for Irish Funds]]> Maples") have maintained their impressive ranking as the number one legal adviser to Irish-serviced funds as set out in the Monterey Insight ("Monterey") Ireland Fund Report 2016.

Maples are the acknowledged market leader in the establishment of new Irish domiciled funds in Ireland with a 27% share of new business. In addition, Maples are the leading ICAV legal adviser with approximately 32% market share for all ICAV funds ised by the Central Bank of Ireland, with a pivotal role at the very forefront of the Irish funds industry.

Maples have retained their leading position in the independent rankings for a fourth consecutive year and it is attributed to the commitment and strength of their funds team and highly experienced partners such as Peter Stapleton, Stephen Carty and Carol Widger.  The team is led by partner and Irish Head of Investment Funds, Barry McGrath.

"The retention of our number one Monterey ranking underlines the consistency of our performance and is a testament to the calibre of the team and our loyal client base", commented McGrath. 

"Our extensive offering includes listing, fiduciary and hosted management solutions and our innovative product development expertise sets us apart in the industry as true market leaders". ]]>
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<![CDATA[Maples and Calder Expands BVI and Cayman Litigation and Insolvency Practice]]>
Mungo joins Maples and Calder from the British Virgin Islands office of Harneys, where he practised for four years.  Before that, Mungo spent eight years at the Bar in England. 

Mungo advises on corporate, commercial and trusts litigation, and has regularly appeared as advocate in the courts of the BVI.  As a fellow of INSOL International, Mungo has particular expertise in cross border insolvency and restructuring.  Mungo's expertise has been recognised by the Legal 500. 

Mungo is based in Maples and Calder's London office, offering the firm's clients the choice of time zone convenient access to first class BVI and Cayman litigation and insolvency advice. 

"We are delighted to welcome Mungo to the firm.  His first-hand experience of the Caribbean litigation and insolvency landscape will help broaden the offering of our London office," said Aristos Galatopoulos, Global Head of the firm's litigation and insolvency practice.  "We are excited to offer our clients the option of a London based contact for BVI and Cayman disputes and restructuring work, in addition to the continued worldwide access to the rest of the team."]]>
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<![CDATA[Maples and Calder Advises Western Digital on Acquisition of SanDisk]]> Western Digital") on the Cayman Islands law corporate and financing aspects of the acquisition by its wholly-owned subsidiary Western Digital Technologies, Inc. of SanDisk Corporation ("SanDisk"), which completed on 12 May 2016 and valued SanDisk at a total equity value of approximately US$19 billion.

Under the terms of the transaction, each outstanding share of SanDisk's common stock was converted into the right to receive $67.50 per share in cash and 0.2387 shares of Western Digital common stock. 

Alasdair Robertson, Global Managing Partner at Maples and Calder, commented: "We are delighted to have assisted our long standing client on this successful acquisition, and to work again with US Counsel Baker & McKenzie and Cleary Gottlieb Steen & Hamilton.  We really enjoy working on complex merger transactions and this type of deal reflects our ongoing standing as the leading Cayman Islands corporate law firm.

Maples and Calder's team was led by partners Alasdair Robertson and Jonathon Meloy with the assistance of associate Kaneesa Ebanks-Wilson.]]>
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<![CDATA[Maples Fund Services Offers Industry Leading Private Equity Fund Services Solution]]> Maples Fund Services, a division of MaplesFS and leading independent global fund services provider, has announced significant investments in its technology and personnel to support an enhanced private equity fund services offering. This includes the implementation of Investran, an industry leading portfolio and partnership accounting system, and the appointment of industry veteran, Robert Wolfe as Head of Private Equity Solutions.
 
Private equity continues to be one of the fastest growing and attractive segments in the global alternative investment marketplace. However, with operational integrity in the spotlight, administering private equity funds has become more time-intensive than ever before. Compliance with transparency requirements from investors and regulators, an expectation of independence, and ever more complex limited partner terms can become distracting to private equity general partners who would prefer to focus on raising capital, screening deals, enhancing portfolio companies and evaluating exit opportunities. As a result, there has been a notable shift away from self-administration and toward the use of third party fund administrators.  
 
"As investors increasingly expect operational excellence, transparent reporting and independent oversight within their private equity funds, there is growing benefit to using a third party administrator," said Tyler Kim, Maples Fund Services' Global Head of Fund Services. 
 
Maples Fund Services is widely recognised for its ability to achieve an optimal balance between best-of-breed core systems and industry leading proprietary solutions. Maples Fund Services' implementation of Investran, which is specifically designed to account for the complexities of private equity partnership terms and conditions, further enhances its technological capabilities. Furthermore, Investran is supplemented by Maples Fund Services' proprietary technology that includes flexible and intuitive reporting solutions that can be customised to meet the needs of private equity general partners and their limited partners.
 
Mr. Wolfe, as Head of Private Equity Solutions for Maples Fund Services, will lead this effort. With a career spanning 25 years in the financial services industry, including over 10 years of executive experience in private equity fund administration, he brings a strong track record in building successful and scalable businesses. 
 
"The Maples group has a long legacy of supporting the formation, structuring and financing of private equity funds," said Mr. Wolfe. "I am thrilled to join the team and look forward to furthering Maples Fund Services' commitment to helping private equity funds increase operational efficiency, enhance reporting and satisfy transparency demands of investors and regulators." 
 
Scott Somerville, MaplesFS' Chief Executive Officer added: "These enhancements to Maples Fund Services' private equity offering are a natural complement to the Maples group's established reputation in the industry. Our robust technology offering and focus on delivering high touch, high quality client service makes us uniquely positioned to capitalise on opportunities in the market and will further cement our position as a trusted partner for our clients."
 
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<![CDATA[Maples Group Honoured at HFM Asia Hedge Fund Services Awards]]>
This is the third consecutive year the Maples group has received awards in these categories and affirms the Maples group's excellence and commitment to our clients in the Asia Pacific region.

The HFM Asia Hedge Fund Services Awards celebrates those hedge fund service providers in Asia who have demonstrated exceptional customer service and innovative product development over the past year. The event is held in conjunction with the HFM Asia Hedge Fund Performance Awards, which recognises standout hedge funds and funds of hedge funds. ]]>
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<![CDATA[Maples Fund Services Celebrates 10 Years in Hong Kong]]> Maples Fund Services, a division of MaplesFS and leading independent global fund services provider, marks a major milestone in 2016 with the tenth anniversary of the opening of its Hong Kong office.

Since commencing operations in Hong Kong in 2006, Maples Fund Services has established a reputation as a market leader in the provision of accounting, middle office, risk reporting and administration services to a client base which includes investment management firms, institutional investors, pension plans and global financial institutions.

Eastern Fong, Regional Hedge of Fund Services - Asia, has overall responsibility for the business operations of Maples Fund Services in the Asia Pacific region. Having joined the firm in 2006, he has played a crucial role in establishing the firm's on the ground presence in Hong Kong. Maples Fund Services' ability to further capitalise on opportunities in the greater Asia Pacific region was enhanced through the opening of its full service operational office in Singapore in November 2013. Working with alternative fund managers in Singapore, Japan and Greater China wishing to set up hedge or private equity funds, Maples Fund Services is able to provide clients with an independent, tailored and customised service from the clients' local time zone.

"Our growth has been driven by dedication and expertise of our staff and our client-centric approach," said Mr. Fong. "We are thrilled to mark this milestone and look forward to continuing to deliver an unmatched level of service and support that enables our clients to succeed."

The Hong Kong office currently services approximately US$20 billion in assets under administration, supported by a local staff of nearly 100 strong who are committed to fostering long-term relationships and taking a high-touch approach to client service. Maples Fund Services has also recognised the growing importance of technology to the fund services industry and has developed an optimal combination of best-of-breed core systems and bespoke proprietary systems that allow the firm to be dynamic in addressing key business challenges faced by clients.

As part of the Maples group, Maples Fund Services is able to complement its existing fund services offering with fiduciary and trust services from Maples Fiduciary and Maples Private Client Services as well as legal expertise offered by Maples and Calder. This approach has been recognised by the industry as a formidable combination and a welcome alternative to the traditional fund administration model and only further differentiates the firm from its competitors. Maples Fund Services has also been consistently acknowledged as a leader in the market through various awards, including being named to Institutional Investor's Tech 50 List for the last five years in a row as well as being named "Best Asia Administrator - under US$30 billion overall" by HFMWeek in 2014, 2015 and 2016. 

While the last 10 years have brought about both significant opportunities for business growth and challenging industry dynamics, alternative fund managers and other financial institutions in the region, across all asset classes, have unquestionably realised the benefits of outsourcing. As a result, they are able to place an increased focus on investors and investment functions to support business growth and ensure they are equipped to adapt to a rapidly evolving environment.  

"Our Hong Kong office has been a driving force behind the growth of Maples Fund Services globally and we are proud of what we've achieved and the success we've realised over the past 10 years," said Scott Somerville, Chief Executive Officer of MaplesFS. "We remain as committed as ever to evolving our offering and investing in the resources necessary to further solidify our footprint in the Asia Pacific region."

 
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<![CDATA[Maples Group Supports Crosswinds Re with Cayman Islands Domiciliation]]> The Maples group recently supported the Cayman Islands domiciliation of Crosswinds Re, a new specialty reinsurance business vehicle established by Crosswinds Holdings Inc., a publicly traded private equity firm and asset manager targeting strategic and opportunistic investments in the financial services sector with a particular focus on the insurance industry. Crosswinds Re recently received approval from the Cayman Islands Monetary ity as a Class B(iii) Reinsurer.
 
Crosswinds Re will act as a specialty reinsurer as part of a larger integrated insurance, reinsurance and asset management structure with an initial focus on the Florida property and casualty insurance market. Maples and Calder will act as Cayman Islands counsel, led by Partners, Abraham Thoppil and Tim Frawley. The MaplesFS team which includes, Lesley Thompson, Victoria Harvey and Tanya Campbell, will provide comprehensive insurance management services.
 
With the intention of reinforcing its position as a leading insurance and alternative risk transfer domicile, the Cayman Islands legislature introduced the Insurance Law, 2010 which provides a risk-based regulatory framework for the insurance industry. Crosswinds Re joins an ever growing list of insurance and reinsurance companies that have chosen to domicile in the Cayman Islands.  
 
"The reputation of the Cayman Islands as the jurisdiction of choice for insurance and reinsurance companies, combined with an established network of high quality service providers and robust regulatory regime, made this an attractive domicile for Crosswinds Re," said Colin King, Chief Executive Officer  of Crosswinds Re. "Following a careful and extensive review process, we are delighted to be partnering with the Maples group and look forward to building a thriving reinsurance business in the Cayman Islands."
 
Alasdair Robertson, Global Managing Partner of Maples and Calder and Chairman of MaplesFS, commented: "We are pleased to have supported Crosswinds Re in their Cayman Islands domiciliation and look forward to continuing to work together as their business evolves."
 
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<![CDATA[Maples Group Assists AerGen in Debut ABS Issuance]]> Borrower").  This was the debut ABS issuance by AerGen, who is a relative newcomer in the aircraft leasing market, and all three tranches of the issuance were oversubscribed. 

Aergen Aviation Finance Limited will act as servicer to the portfolio and Maples Fiduciary Services (Ireland) Limited will act as Managing Agent to the Borrower.  DVB Bank SE provided the liquidity facility to the Borrower, while Deutsche Bank Securities Inc. and Goldman Sachs Lending Partners LLC acted as joint lead arrangers for the offering. 

Maples and Calder provided Cayman Islands legal advice and support to the Borrower through its Cayman Islands office, and also provided Irish legal advice to the Managing Agent through its Dublin office.  

In its role as Managing Agent, Maples Fiduciary will provide cash management and calculation services, issue monthly statements to loan holders and investors and offer its full suite of company secretarial and accounting services to the Borrower.  In addition, Maples Fiduciary is engaged to provide directorship services to the Board of the Borrower entity and to each of its subsidiary entities.

The Maples and Calder team in the Cayman Islands was led by partner Tina Meigh and associate Barnabas Finnigan, with assistance from associate Shari McField, and in Dublin by partner Donna Ager with assistance from associate Aine O'Hara.  The Maples Fiduciary team was led by Stephen O'Donnell with assistance from Jarlath Canning, Julian Dunphy and Paul Griffin. 

Mark Western, head of Maples and Calder's Asset Finance practice, commented: "We are pleased to have assisted our client AerGen in their debut ABS issuance.  This transaction further solidifies the unmatched expertise and advice the Maples group provides to our clients and we look forward to continuing to work with AerGen."]]>
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<![CDATA[Maples Fund Services Alternative Funds Roundtable]]> The alternative funds industry is unquestionably in a state of flux with significant macroeconomic events, market volatility and regulatory and political pressures impacting key stakeholders around the globe. These difficult market dynamics coupled with the increasing sophistication of investors has forced both managers and service providers to re-evaluate their existing models to support business growth and ensure they are equipped to adapt to the rapidly evolving environment.

Maples Fund Services recently hosted its inaugural Alternative Funds Roundtable in London with panellists discussing the current industry landscape, including key trends, challenges and their outlook for the coming years.

The Roundtable was moderated by Peter Northcott, Executive Director, KB Associates and participants included:

  • Justin Fitzsimmons, Operations Manager, SISU Capital Limited
  • Ian Forrest, Head of Middle Office, Kestrel Partners LLP
  • Richard Haas, Chief Operating Officer, Capeview Capital LLP
  • Russell Hart, Chief Operating Officer and Partner, Alcova Asset Management LLP
  • Yannis Matsis, Partner, Point Nine
  • Edward Sutro, Business Development, Garraway Capital Management
  • Heidi de Vries, Partner, Maples and Calder
  • Stephen Lewis, Regional Head of Sales and Relationship Management – Europe, MaplesFS
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<![CDATA[MaplesFS Named to Institutional Investors Tech 50 List for Fifth Year]]>

Tyler Kim, MaplesFS' Global Head of Fund Services, has been named to Institutional Investor's Tech 50 List for the fifth consecutive year. This global ranking highlights the leading financial services executives and innovators who are applying advanced technologies to address their organisations' and clients' operational and strategic challenges and working to shape the future of the industry. 

Institutional Investor recognised MaplesFS for specific accomplishments over the last year, including the opening of an office in San Francisco and related investments in proprietary technology to enhance operational integrity within the administration of marketplace lending funds. MaplesFS was also recognised for the continued development of targeted offerings for institutional investors, including shadow administration, fee validation and enhancements to risk reporting capabilities. 

"Given current industry dynamics, technological innovation has become a crucial factor to both operational and strategic success for both MaplesFS and our clients," said Kim. "This recognition underscores the importance of technology to our core business and we remain as committed as ever to further developing solutions that enable us to be dynamic in responding to market opportunities and our clients' evolving needs."

The annual feature was compiled by the publication's editors and staff with input from industry participants and experts and evaluated four primary sets of attributes: achievements and contributions over the course of a career; scope and complexity of responsibilities; influence and leadership inside and outside the organisation; and pure technological innovation.

Please click here to read the full article.  

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<![CDATA[Maples and Calder Partners Ranked in Chambers High Net Worth]]> In the first edition of Chambers High Net Worth, Maples and Calder partners, Nigel Porteous, Morven McMillan and Ray Davern, have ranked in Offshore Trusts in the Cayman Islands, with the firm also staking its claim in the rankings.  Ray also was ranked in Expertise Based Abroad for Offshore Trusts in the British Virgin Islands.  These rankings are a further testament to the continued strengthening of the firm's market leading trusts and private client team.

Nigel is co-head of Maples and Calder's Cayman Islands trusts practice.  "Nigel is terrific," said one interviewee, "he gives great advice, he's very thoughtful and understands our business."

Cayman Islands co-head, Morven, joined the firm in January 2016.  "Her contentious lens on non-contentious work is very valuable for ultra-high net worth situations," commented one fellow attorney in the industry.

Ray was recruited to the firm's London office in June 2016. Recognised as one of the top 20 men in Private Wealth Management by Citywealth, Ray is described as, "…a real star in the offshore trust world.  Brilliant intellectually, but commercial and practical with it.  His knowledge of trust law is second to none and is put to formidable use in the service of his clients."

These rankings highlight Maples and Calder's strength in depth at the cutting edge of the offshore trusts industry.

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<![CDATA[Maples and Calder Recruits Trusts Specialist, Ray Davern]]> Maples and Calder has continued to strengthen its international Trusts and Private Client practice with the appointment of Ray Davern, who joins the firm on 6 June 2016 as a partner in its London office.  Ray brings with him over 25 years' experience in the trusts field, and previously headed up the Private Client and Trust practices in both the British Virgin Islands and Cayman Islands for Conyers Dill & Pearman.

"We are delighted to welcome Ray to our growing London office of 8 partners and 22 fee earners.  I have every confidence that Ray's technical expertise and his time on the ground in the Cayman Islands and BVI will help cement the Maples group's position as a major player in the trusts and private client sector," said Paul Govier, Managing Partner of Maples and Calder's London office.

Ray, who has moved from the Cayman Islands to London to take up his new role, said: "I am very excited to be joining the Maples and Calder partnership and am looking forward to helping the team go from strength to strength."

Recognised as one of the top 20 men in Private Wealth Management by Citywealth, Ray is described as "…a real star in the offshore trust world.  Brilliant intellectually but commercial and practical with it.  His knowledge of trust law is second to none and is put to formidable use in the service of his clients."

Ray's arrival follows other recent significant additions to Maples and Calder's global Trusts and Private Client team, including partner Morven McMillan who joined the firm in January 2016 as co-head of the practice in the Cayman Islands office, alongside Nigel Porteous.

Maples and Calder's Trusts and Private Client practice has established itself as a market leader, acting for some of the world's largest private businesses, high profile international families and institutional clients.  Maples and Calder advises on the laws of the Cayman Islands, British Virgin Islands and Ireland in trusts and private client matters, and clients benefit from the combined expertise of a global team, which provides advice from offices that cover all major markets.

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<![CDATA[Maples and Calder Recognised for Seven Airfinance Deal of the Year Awards]]> As a testament to the strong performance and unrivalled expertise of the Maples and Calder Finance practice, Airfinance Journal has recognised seven transactions on which the firm advised in 2015 for Deal of the Year awards.

A leading financial resource on the aviation industry and market leader for aircraft finance news, the Airfinance Journal awarded deals in the following categories:

North America Deal of the Year - Awarded for the Element ABS Deal

Partner Scott Macdonald, with assistance by associate Barnabas Finnigan, advised the Issuer, ECAF 1 Ltd, on its US$1.21 billion asset backed securitisation ("ABS") of a diverse portfolio of 49 aircrafts.  The offering of three tranches of note was the largest pooled-aircraft ABS transaction in nearly a decade.  Additionally, Maples and Calder partners Sheryl Dean and Philip Dickinson advised Element Financial Corporation, acting as the structuring agent on the upstream funding structure.

Latin America Deal of the Year
- Awarded for the LATAM Enhanced Equipment Trust Certificates Deal

Partner Wanda Ebanks and associate Shari McField acted as Cayman Islands counsel to the Cayman Issuers and LATAM Airlines Group S.A. ("LATAM") on the issue of Enhanced Equipment Trust Certificates ("EETCs").  LATAM is the first airline in Latin America to issue EETCs.  Funds raised were utilised to finance the airline's 2015 and 2016 deliveries of 17 aircraft, comprised of 11 new Airbus A321-200 aircraft, two new Airbus A350-900 aircraft and four new Boeing 787-9 aircraft.  The transaction met with such popularity that it was immediately upsized to US$1,020,823,000.  MaplesFS Cayman provided local administration and share trustee services. 

Capital Markets ABS Deal of the Year - Awarded for the BOCA ABS Deal

Partner Jonathon Meloy led a team comprised of partner Jonathan Caulton from the London office, partner Mark Western and associate Prabha Sasidharan from the Hong Kong office, and associate Barnabas Finnigan from the Cayman Islands office, which advised Shenton Aircraft Investment 1 Ltd on its US$807,976,000 ABS of a diverse portfolio of 24 aircraft.  BOC Aviation (Ireland) Limited acted as servicer to the portfolio.  MaplesFS Cayman provided share trustee services.  

Middle East Deal of the Year - Awarded for the Emirates SUKUK Deal

Partner Manuela Belmontes, assisted by associates Gurminder Sanghera and James Kinsley, advised Khadrawy Limited on the issuance of Islamic-compliant trust certificates (Sukuk) to raise advance funding for the acquisition of four Airbus A380 aircraft for Emirates.  It was the world's first Sukuk financing for A380 aircraft (and the first Sukuk financing supported by the UK Export Credit) and the largest ever capital markets offering (of US$913,026,000) in the aviation space with an Export Credit Agency guarantee.  MaplesFS Cayman provided local administration and share trustee services.

Europe Deal of the Year - Awarded for the DVB/Deucalion/AIM ABS Deal

Partner Jonathon Meloy led a team comprised of partner Jonathan Caulton in the firm's London office and associate Barnabas Finnigan in the Cayman Islands office, which provided Cayman Islands legal advice in connection with the ABS of an underlying portfolio of 20 aircraft valued at approximately US$814 million acquired from the Deucalion aviation funds.  Maples and Calder's affiliate, MaplesFS, acted as Managing Agent.  MaplesFS Cayman provided share trustee services.

Africa Deal of the Year - Awarded for the Comair Ex-Im Financing in ZAR Deal

Partner Donna Ager led a team comprised of partner Will Fogarty and associates Mary O'Neill, Aisling O'Reilly and David Burke.  The team acted as Irish deal counsel on the financing for the purchase of four new Boeing 737-800 aircraft for South African low-cost carrier, Comair.  The rand-guaranteed facility allowed Comair to match its loan repayments with its rand revenue streams, mitigating foreign currency risk.  The loan was guaranteed by the Export-Import Bank of the United States.

Asia Pacific Deal of the Year - Awarded for Cheung Kong / Accipiter's Acquisition of Aircraft Portfolios from GECAS and BOC Aviation

Partners Mark Western and Lorraine Pao from the firm's Hong Kong office and partner Donna Ager from the Dublin office provided Cayman Islands and Irish legal advice to Cheung Kong Holdings in connection with its acquisition of aircraft portfolios from GECAS and BOC Aviation.  Accipiter Holdings Limited, a subsidiary of Cheung Kong Holdings, closed the two portfolio purchases for a total of 30 aircraft at US$1.3 billion.

"We are honoured for the acknowledgment by the Airfinance Journal for the high calibre of work our lawyers continuously strive to achieve and the expertise we bring to our clients, as represented through these successful transactions," commented partner and Global Head of Asset Finance, Mark Western.  "The recognition is greatly appreciated and we aim to keep the positive momentum going through 2016."

The Airfinance Journal's Deal of the Year Awards were announced at the Awards Dinner held on 18 April 2016 in Miami. ]]>
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<![CDATA[Dallas Police and Fire Pension System Selects Maples Fund Services for Performance and Risk Reporting]]> Dallas Police and Fire Pension System ("DPFP") has selected Maples Fund Services, a leading independent global fund services provider and division of MaplesFS, to provide consolidated performance and risk reporting services to its US$3 billion pension plan.

Subsequent to the arrival of its new Chief Investment Officer, James Perry, last year, DPFP is embarking on broad improvements to its investment programme which includes the implementation of sophisticated and innovative investment strategies that will strive to augment performance and realign liquidity in its portfolio.

In support of this initiative, Maples Fund Services will leverage its experience in working with complex investment programmes at other institutional investors and its sophisticated and customisable platform to provide DPFP with a robust operational infrastructure. Maples Fund Services will produce monthly reports for DPFP's board of trustees as well as more granular reporting for the investment team that articulates point-in-time performance and risk drivers. These reports will seek to illustrate the transition and evolution of the portfolio's performance and risk sources over time. In addition, Maples Fund Services will act as an extension of DPFP's investment team and will support ad hoc reporting for various projects.

"The success of our investment programme will be defined by enhanced risk adjusted performance and liquidity realignment and it is vital to have a knowledgeable partner with whom the board and the investment team can collaborate to define appropriate metrics and reporting," said Perry. "We are confident that the independent calculations from Maples Fund Services' customisable reporting platform will not only provide us with the transparency and insight necessary to execute our new investment strategies but also increase the overall governance of the portfolio."

"We are very proud of our platform and its ability to accommodate the increasingly sophisticated investment strategies employed by institutional investors and are excited to collaborate with DPFP to deliver a custom solution," said Mark Weir, Head of Data Management at Maples Fund Services. "Investment strategies and approaches will continually change and we look forward to developing a long-lasting partnership with DPFP and evolving our platform in tandem with the changing needs of their investment team, board of trustees and other key stakeholders."

 
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<![CDATA[Cayman Islands and UK Governments Announce Cooperation Enhancements]]> On 11 April 2016, the Cayman Islands government formally announced a commitment to enhance its existing robust arrangements with the UK government on the exchange of beneficial ownership information in relation to Cayman Islands companies.  This proposed enhancement was originally signalled in December 2015, following several months of discussions between the UK and Cayman Islands ities. 

Over the last 20 years, the Cayman Islands has established itself as a leading domicile for international business, finance and investment funds by consistently being in the vanguard of jurisdictions that have cooperated and collaborated with the international community.  The Cayman Islands introduced internationally compliant legislation reflecting advances and evolution in anti-money laundering and know your customer laws many years ago. 

The Cayman Islands has also been an early adopter of tax information exchange arrangements, such as bi-lateral tax information exchange agreements, US FATCA, UK style FATCA and the OECD Common Reporting Standard, into which it has entered with some 95 countries.  This approach has ensured that the Cayman Islands continues to meet the high standards of due diligence required by, and to have the confidence of, the international institutional business and regulatory community.

 UK law enforcement agencies already have a right to request certain information under existing international agreements with the Cayman Islands, so, in effect, the announcement of 11 April 2016 will primarily provide a more streamlined process.  

We understand that the enhancement announced will be finalised by June 2017 and the details of the operation of the new centralised beneficial ownership platform are still to be finalised.  Whilst we do not yet know all of the details, we anticipate that the Cayman Islands requirements may approximate those recently adopted in the UK.  The UK regime requires companies to maintain a register of persons with beneficial ownership or control which exceeds a certain threshold, and includes a 25% ownership test.  However the registers for Cayman Islands companies will be privately maintained by licensed service providers in the Cayman Islands and will not be public, although that information will be accessible directly, subject to certain safeguards, by the Cayman Islands ities on proper request made by UK law enforcement agencies. 

The Cayman Islands government has announced that they will consult further with the industry as they go through the normal consultation process during the implementation process.  Therefore, there is no immediate action that clients need to take, for now. 

We will update you with more information over the coming year as and when more details are released as to how the Cayman Islands will implement these enhancements.

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<![CDATA[Maples and Calder Advises on Largest Semiconductor Acquisition in History]]> Maples and Calder has advised Singapore-based Avago Technologies Limited ("Avago") on the Cayman Islands aspects of its US$37 billion acquisition of Broadcom Corporation ("Broadcom"), which closed on 1 February 2016. 

Under the agreed terms of the deal the transaction included a scheme of arrangement implemented by Avago under Singapore law and the merger of certain indirect subsidiaries, including Cayman entities, with Broadcom.  As a result, all issued shares in Avago were exchanged for shares in a newly formed Singaporean company named Broadcom Limited ("Holdco") and Broadcom stockholders elected to receive cash, shares in Holdco or limited partnership interests in a newly formed Cayman Islands partnership. 

A consortium of banks provided over US$15 billion in secured financing to Avago for the acquisition. 

The transaction is the largest semiconductor acquisition in history and the combined company forms the third-largest US semiconductor maker by revenue after Intel Corp. and Qualcomm Inc. 

Alasdair Robertson, Global Managing Partner at Maples and Calder, commented:  "This high-profile transaction exhibits and further deepens Maples and Calder's unrivalled experience in the technology sector.  We are very pleased to have been able to assist our long-standing client, Avago, with this important transaction." 

Maples and Calder's Cayman Islands team on the corporate restructuring side comprised partner Alasdair Robertson, counsel Nicola Bashforth and associate Amanda Lazier, and on the secured financing side partner Tina Meigh and associate Lucy Sleep.

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<![CDATA[Maples Fiduciary Continues Global Expansion with Hong Kong Office Launch]]> Maples Fiduciary, a division of MaplesFS and leading global provider of specialised fiduciary and corporate administration services, has opened an office in Hong Kong, completing the Maples group's offering in the region.

"With the use of Hong Kong companies in the types of structures that typically rely on the Maples group for various services, the launch of our Hong Kong office is a natural extension of our offering across multiple jurisdictions," said Hugh Thompson, Global Head of Fiduciary at Maples Fiduciary. "We are continually assessing and reshaping our business to address changing market demands and look forward to providing existing and prospective clients around the globe with a high quality, full service Hong Kong fiduciary offering from our offices in Central."

The initial focus will be on Hong Kong company incorporations and corporate services, while also providing the standard services offered by Maples Fiduciary's offices globally, including directorships, trusts, board support, private client and accounting services. Maples Fiduciary boasts a strong Asian presence with a full service offering in Singapore, including a Mandarin speaking director. The opening of Maples Fiduciary in Hong Kong is a complement to this and will serve to provide further on-the-ground resources for clients in the region.

Previously with Maples and Calder as a lawyer in London and Hong Kong, Charlie Sparrow has moved to Maples Fiduciary as Regional Head of Fiduciary - Hong Kong where he will oversee the growth of the office and its services. Charlie brings a wealth of expertise in the financial services and international trust sector.

"The opening of a Maples Fiduciary office in Hong Kong marks a significant milestone in our evolution," said Scott Somerville, MaplesFS' Chief Executive Officer. "Hong Kong is a strategically important market for us and establishing a Maples Fiduciary presence there, to complement our existing legal and fund services operations, reinforces our commitment to the Asian market and its participants and further enables us to capitalise on potential opportunities while delivering our renowned responsive and client-driven service."

 
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<![CDATA[Enhancements to Maples and Calders ised Representative Services]]> We are pleased to announce that, with effect from 1 March 2016, there will be enhancements made to our ised representative services provided by Maples ised Representative Services (BVI) Limited ("MARS BVI").  These enhancements are designed to assist clients with the increasing formalisation of the role of the ised representative in the British Virgin Islands ("BVI"). 

The concept of the ised representative was first introduced in the Securities and Investment Business Act, 2010 which provides that all funds, managers and other licensees (each a "Regulated Entity") regulated by the BVI Financial Services Commission (the "Commission") and not having a physical presence in the BVI, are required to retain an ised representative to act as the main intermediary between the Regulated Entity and the Commission.  In addition, in accordance with the Guidelines for ised Representatives issued by the Commission, ised representatives are required to keep copies of all correspondence and documents submitted to the Commission on behalf of the Regulated Entity and pay all fees and any penalties payable by the Regulated Entity on its behalf. 

These changes went hand in hand with the formalisation of the notification requirements for Regulated Entities and the introduction of an annual filing requirement for (i) private and professional funds to submit their audited financial statements ("AFS") and (ii) for all funds to submit a mutual fund annual return ("MFAR") to the Commission.  The Commission has started issuing penalties for funds that failed to file an MFAR for the 2014 reporting period prior to 30 June 2015 and we anticipate that this approach of issuing penalties for regulatory breaches will be extended to the filing of AFS and the payment of annual regulatory fees in the coming year.  These recent developments highlight the role and importance of the ised representative in assisting Regulated Entities with the management of their obligations and under BVI law. 

In addition to the Commission's increasing scrutiny and oversight of Regulated Entities, it is anticipated that the Commission will be implementing a new filing process in the near future whereby all applications, notifications and fees submitted to the Commission will be required to be made through the Commission's online system, the Virtual Integrated Registry Regulatory General Information Network ("VIRRGIN"). 

In order to keep pace with the changing regulatory landscape in the BVI and to provide an appropriate platform that will assist clients in the management of their regulatory obligations, the services and functions provided by MARS BVI have been modified and formalised. 

To facilitate standard filings made by MARS BVI to the Commission and to provide MARS BVI clients with a direct line of communication with MARS BVI regarding the status of filings and other requests, we ask that you contact us in addition to contacting your usual Maples and Calder contact.  This will ensure that (i) the request is correctly filed and recorded within the prescribed deadlines and, when relevant, (ii) the submissions are uploaded to VIRRGIN and any fees payable are linked to the associated filing. 

We will also be further developing our systems to provide greater transparency and assurance to you regarding the compliance status of your Regulated Entities.  We will update you regarding these enhancements as they are developed and become available.

In order to reflect the developing role of MARS BVI and to effectively provide for this enhanced service, MARS BVI has updated its terms and conditions of service and has introduced fixed filing fees for certain common actions.  These terms and conditions supersede any prior terms and conditions and may be found on our website.  The current fixed fee schedule is available on our website. 

MARS BVI will continue to provide general updates regarding upcoming filing deadlines and any anticipated changes to the Commission's filing regime and processes and we trust that you will find this enhanced service provides you with a greater level of assurance for your business.

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<![CDATA[Maples and Calder Consistently Ranked Number 1 for Irish Funds]]> For the third year in a row, Maples and Calder ("Maples") has been ranked as the number one provider of legal services to Irish funds, in terms of total number of funds advised.  By advising on 1,269 funds, Maples has been ranked as first among its peers as set out in the Monterey Insight ("Monterey") Ireland Report 2015.
 
In addition, for the sixth consecutive year, Maples has been ranked as the market leader in the establishment of new Irish domiciled funds in Ireland, with a 30% share of new business. This positions Maples at the cutting edge of the Irish funds industry. 
 
This ranking is testament to the Maples funds team's significant strength in depth, with highly experienced partners such as Peter Stapleton, Stephen Carty and Carol Widger being led by partner and Irish Head of Investment Funds, Barry McGrath. Maples has established itself as the fastest-growing Irish funds practice, advising some of the largest international fund managers and institutions doing business in Ireland.
 
Commenting on the publication of the report, Barry McGrath stated, "We welcome the results of this year's Monterey report as they have confirmed our position as the number one Irish legal advisor for total number of investment funds advised. Our consistent ranking as Ireland's market leader for the establishment of new Irish domiciled funds, demonstrates Maples' pivotal role in the Irish funds industry at the forefront of both innovative product development and regulatory change".
]]>
/en/News/Announcements/2015/12/Maples-and-Calder-Consistently-Ranked-Number-1-for-Irish-Funds/en/News/Announcements/2015/12/Maples-and-Calder-Consistently-Ranked-Number-1-for-Irish-Funds
<![CDATA[Maples and Calder Advises Owner of Premier League Football Club]]> /en/News/Deals-and-Client-Wins/2015/12/Maples-and-Calder-Advises-Owner-of-Premier-League-Football-Club/en/News/Deals-and-Client-Wins/2015/12/Maples-and-Calder-Advises-Owner-of-Premier-League-Football-Club<![CDATA[Maples Fund Services Selected as Administrator for Beacon Trust Portfolios PLC]]>
Maples Fund Services will provide full administration services, including fund accounting, registrar transfer agent services and FATCA services for both sub-funds. The firm was awarded the business as a result of its depth of expertise and experience in working with fund of funds and its ability to offer customisable solutions and sophisticated infrastructure to meet clients’ requirements.

“We are delighted to be working with Maples Fund Services, given their focus on delivering a comprehensive and quality service to their clients” said Sean Blake, Investment Director at Beacon Trust Portfolios PLC.

Beacon Trust offers a unique approach to investing by combining investment managers who are asset class specialists, with a portfolio structure that delivers both management and tax efficiency. Investors benefit through access to fund managers, who can deliver a superior return relative to their risk profile. The Beacon Cautious Fund will adopt a cautious investment approach by investing principally in a diversified portfolio of Collective Investment Schemes (“CIS”) with exposure to fixed income securities and money market instruments. The Beacon Growth Fund will adopt a moderate growth investment approach by investing principally in a diversified portfolio of CIS with exposure to global equity securities.

"Our new relationship with Beacon Trust is a testament to the recent growth in the fund of funds space and investor demands for excellent service and fee flexibility,” said Stephen Lewis, Maples Fund Services’ Regional Head of Sales and Relationship Management - Europe. “With our core pillars of technology, experienced staff, tried and tested process and a reputation for stability and innovation we are well positioned to support this growth and look forward to working with Beacon Trust as its funds grow and its offering develops”. ]]>
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<![CDATA[Maples and Calder Earns SOC2 Accreditation]]>
"We are extremely proud of the SOC2 assentation which verifies that the Maples eServices' security practices, policies and procedures meet the American Institute of Certified Public Accountants' (AICPA) SOC2 standards for security, availability and confidentiality," said Matt Barnett, Chief Information Officer at Maples and Calder. 

"In addition to supporting our long-term business and technology eServices strategy, the SOC2 audit demonstrates our continued commitment to delivering the highest level of eServices in a safe and trusted environment, allowing our clients to have the peace of mind that their confidential content is secure.  Our commitment to raise the bar on eServices is such that we have already started the process to complete the SOC2 Type 2 audit within the next twelve months."  

Maples and Calder continues to provide transformational Global Entity Management services via its unique and innovative eServices platform.  The independent services and controls review, which is based on Trust Services Principles, was carried out by local auditors and involved extensive testing of the firm's design and implementation of control activities to help ensure the applicable Trust Service security criteria and control specifications were met.]]>
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<![CDATA[Maples Expands Global Private Client Services Offering]]>
Morven McMillan will join Maples and Calder as Partner and Co-head of Trusts in the Cayman Islands office. A highly experienced international trusts practitioner combining an advisory and contentious trusts and private client practice, she previously led a London law firm’s trust disputes group, before joining Mourant Ozannes and leading their Cayman Islands’ International Trusts and Private Client team for several years. Morven will join the firm in January 2016.

Peter Goddard has recently joined MaplesFS as Head of Private Client Services. Based in the Cayman Islands, Peter is responsible for driving the growth of the Private Client Services business as well as managing relationships, providing technical advice and delivering innovative trust administration solutions to new and existing clients. A recognised expert in his field, Peter has more than 20 years of experience working with several large Cayman Islands trust companies. 

Previously with Maples and Calder’s Trusts team in Hong Kong, Charlie Sparrow has moved to Maples Fiduciary, a division of MaplesFS, as Regional Head of Fiduciary – Hong Kong. Working closely with Peter Goddard, Charlie will have responsibility for building out MaplesFS’ Private Client Services business in Asia.

"The Maples group is uniquely placed to offer private clients expert legal and administration solutions. Our business model, along with the combined global presence of the Maples group, allows us to provide clients with dynamic and sophisticated solutions adapted to meet their specific needs," said Scott Somerville, MaplesFS' Chief Executive Officer. "We value excellence in our work product, and client service in particular, and look forward to continuing to establish ourselves as a leading independent provider of private client services. The appointment of Morven, Peter and Charlie further strengthen our depth of expertise and experience in the private wealth space and support the continued expansion of our service offering globally."  ]]>
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<![CDATA[Maples and Calder (Dubai) LLP]]> Maples Dubai"). 

Maples Dubai is able to provide all the same high quality services that have previously been provided by our Dubai office and day-to-day operations will be unaffected.  The business and operations of Maples Fund Services in Dubai remain unchanged.]]>
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<![CDATA[Maples Group Recognised for Excellence in Asia]]> For the second consecutive year, the Maples group was recognised at the 2015 HFM Asia Hedge Fund Services Awards. As a result of its strong performance over the last year and continued growth and expansion in the region, Maples Fund Services was named "Best Asia Administrator – under US$30 billion overall" and Maples and Calder was honoured with the award for "Best Offshore Law Firm". The annual awards, now in their second year, were developed to recognise the hedge fund service providers in Asia that have demonstrated exceptional customer service and innovative product development. 

This continued recognition is a testament to the Maples group's growth strategy in the jurisdiction, which is based on a long-term commitment to development in the Asia Pacific region. Further underscoring this achievement is the firm’s philosophy of continuous innovation and forward-thinking, which has helped make its technology among the most advanced in the industry and served to foster meaningful relationships with clients.    

As the Asian fund market continues to grow and evolve, there will be a need for both emerging and established funds to seek advice on how to deal with operational considerations and regulatory changes in and outside of Asia. The Maples group remains well placed to provide this expertise and will continue to play a significant role in nurturing the market’s growth for the foreseeable future.
 
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<![CDATA[Moab Capital Partners Selects Maples Fund Services as Hedge Fund Administrator]]> Moab Capital Partners, LLC, (“Moab”) a New York-based alternative investment fund manager with over US$485 million of consolidated assets under management across their hedge funds and other product offerings, recently selected Maples Fund Services, a division of MaplesFS, to provide a full suite of hedge fund administration services. 

Maples Fund Services will provide a range of administration services, including fund accounting and investor services, for the hedge funds managed by Moab. Maples Fund Services’ customisable approach and sophisticated infrastructure, coupled with the expertise of its team in working with debt funds, were key elements in the asset manager’s decision to migrate from its existing fund administrator.  Maples Fund Services was also selected to provide fund accounting services to Moab’s new insurance dedicated fund which launched on September 1, 2015 with US$25 million.

“Having previously been serviced by a division of a large investment bank, we decided to focus our search on independent administrators for their adaptive nature and the increased flexibility they can provide,” said Chad Goldstein, Moab Capital Partner’s Chief Financial Officer and Chief Compliance Officer. “Maples Fund Services has the capabilities to provide superior service to funds like ours with a variety of strategies that invest throughout the capital structure. In addition, the firm’s long-term view towards client relationships as well as its cutting edge approach to technology further supported our decision to partner.”

“The new relationship with Moab is a testament to our ability to deliver adaptable, highly specialised solutions to increasingly complex fund structures,” Jason Brandt, Maples Fund Services’ Regional Head of Fund Services – Americas, said. “We look forward to developing a productive, long-lasting relationship with Moab Capital Partners as we help them bring new efficiencies to their operations.” 
 
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<![CDATA[Maples and Calder Announces Recruitment of Industry Experts]]>
Morven McMillan will join Maples and Calder as partner and co-head of the Trusts practice in the Cayman Islands office, alongside Nigel Porteous.  Morven is a leading name in the trusts and private client arena and her expertise includes both contentious and non-contentious trusts.  Morven previously led the International Trusts & Private Client team at Mourant Ozannes in the Cayman Islands. 

Tim Dawson
will join Maples and Calder as a senior associate in the Regulatory & Financial Services group, headed by Martin Livingston.  Tim also joins from Mourant Ozannes, where he led the firm's Cayman Islands regulatory practice. 

"The firm is delighted to welcome Morven and Tim," said Henry Smith, Global Managing Partner of Maples and Calder.  "Our trusts and regulatory teams are in high demand and the level of experience that Morven and Tim bring to their respective fields will help us reinforce our position as Cayman's premier service provider in these areas." 

Morven and Tim will join the firm as soon as they are free to do so under their existing contractual arrangements and subject to work permit approvals from the Cayman Islands Immigration Department.]]>
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<![CDATA[Maples Fund Services Recognised as a Global Outperformer in the 2015 Global Custodian Hedge Fund Administration Survey]]> Maples Fund Services has been recognised as a global outperformer in Global Custodian’s 2015 Hedge Fund Administration Survey. The annual survey and report – compiled by the publication’s editorial and research teams, and based on more than 1,000 responses covering over 30 fund administrators – highlights the service providers who are maintaining the highest standards for service amid industry consolidation and an evolving regulatory environment. 

Fund administrators received ratings across eight separate service areas with global outperformers receiving top scores relative to their peers. In addition, Maples Fund Services’ first acquisition in Asia, the opening of its Boston and San Francisco offices, as well as a significant investment in technology were specifically noted as key factors to the firm’s success over the last year. This strong performance has also resulted in Maples Fund Services being recognised as a nominee for Global Custodian’s Industry Leaders Awards which will be presented in November in New York City. 

Maples Fund Services prides itself on its unmatched approach to client service based on the seamless integration of technological expertise with deep industry knowledge, on a global scale. This recognition further underscores the firm’s commitment to being a consistent, stable, high-quality and high-touch service provider. 

Learn more about the survey and access the full report.]]>
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<![CDATA[Maples Fund Services Selected as Administrator for Promeritum Investment Management LLP]]> Maples Fund Services, a leading independent global fund services provider and division of MaplesFS, has been selected by Promeritum Investment Management LLP (“Promeritum”) as administrator for their Promeritum Fund SPC, an emerging market fixed income hedge fund. 

Maples Fund Services will provide full administration services, including fund accounting, registrar transfer agent and FATCA services for the fund. Point Nine, a long-term partner of Maples Fund Services, has also been selected to provide middle and back office services. The firm was awarded the business as a result of its high-touch approach to client service backed by a seamless integration of technological prowess and team with deep industry knowledge and expertise.

“We have been very impressed with Maples Fund Services’ core offering and the diverse range of complementary solutions they are able to deliver to our fund,” said Richard Mhende, Partner and COO at Promeritum. “Given the consolidation currently occurring in the hedge fund industry, it is reassuring to know that we can rely on our administrator not only for the day-to-day fund operations but also for other ancillary services when needed, ensuring we meet investor and regulatory requirements. Furthermore we have been hugely impressed with the quality, responsiveness and accessibility of the entire team across the corporate structure.” 

The Fund seeks to realise exceptional returns via an investment approach that combines a selection of macro trends based on market information with in-depth analysis of credits and situations using superior access to issuers. The investment strategy is focused on the areas of expertise of portfolio managers and managing partners, Anton Zavialov and Pavel Mamai, who have over 15 years of experience in emerging market fixed income trading and emerging market credit, respectively. The Fund will invest primarily in emerging market hard currency fixed income, local currency bonds, emerging market credit default swaps, distressed/restructurings, structured loans and opportunistically in emerging market foreign exchange and equities. 

"We are very excited that Promeritum has selected Point Nine for technology and middle office operations support," said Pavlos Christoforou, Managing Partner at Point Nine.  "Promeritum is a new addition to our client list and we are proud to be associated with such a prestigious investment manager.  We look forward to providing a seamless and accurate service to Promeritum and continuing our successful partnership with Maples Fund Services."

“We are thrilled about our new relationship with Promeritum and look forward to supporting their continued growth,” said Stephen Lewis, Maples Fund Services’ Regional Head of Sales and Relationship Management – Europe. “This is another example of our ability to provide adaptable solutions that can address hedge fund clients’ unique needs.” ]]>
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<![CDATA[Maples and Calder Advises Diamond Head Aviation on US$260m ABS]]> ABS") of a diverse portfolio of 30 aircraft.

AWAS (Ireland) Limited will act as servicer to the portfolio and Royal Bank of Canada provided the liquidity facility to the Issuer, while Wells Fargo Securities, MUFG, RBC Capital Markets and Credit Agricole Securities acted as joint bookrunners for the offering.

The Maples and Calder team in the Cayman Islands was led by partner Jonathon Meloy and associate Barnabas Finnigan, with assistance from associate Shari McField. 

Alasdair Robertson, Global Head of Finance, commented: "This high-profile transaction, with its complex structure, exhibits and further deepens Maples and Calder's unrivalled experience in acting as Issuer counsel on aircraft portfolio ABSs.  Our multi-disciplined team have been able to draw on their experience in both Aircraft Finance and Structured Finance transactions, which are two of Maples and Calder's core practice areas, and we are very pleased to have been able to assist our client with this important transaction."

Maples Fiduciary, a division of MaplesFS, acted as share trustee to the ABS.  Maples Fiduciary's aircraft finance team acts for approximately 35% of the world's airlines and approximately 45% of the world's aircraft lessors.  A market leading provider of fiduciary services to structured finance vehicles, Maples Fiduciary's aviation services span a wide variety of areas, including export credit agencies, financial institutions, lessors, airlines and private equity funds active in the aviation sector.

The Issuer was advised by Clifford Chance in the US while Hughes Hubbard & Reed LLP acted as US counsel to the initial purchasers, and Vedder Price acted as US counsel to the E Note Holder.]]>
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<![CDATA[MaplesFS Nourishes Young Minds This Summer]]>
Each year the Cayman Islands Public Library Service holds a summer reading challenge in an effort to keep children reading throughout the holidays and further develop their love of reading. Seeking to grow a community of lifelong learners who enjoy reading a variety of quality literature for pleasure, the challenge encourages children between the ages of 16-17 to read a minimum number of hours each week. Last year, 74 readers completed the challenge by reading a grand total of 905 books over 1,220 hours. Assisting in the success of the programme this summer, MaplesFS on behalf of its clients donated US$2,500 towards the purchase of prizes for children who complete the reading challenge. 

MaplesFS also donated CI$1,500 to Cayman Cricket’s two-week community summer camp. The free camp provides children ages 8-16 with a host of sporting and academic activities to keep them healthy and entertained over the summer months. "Sports as a whole, and cricket in particular, can offer many benefits to young children as it helps instil discipline, encourages strategic thinking and last but not least physical activity," said Abali Hoilett, Cayman Cricket Executive Member. "The camp is a unique opportunity to help shape the lives of Cayman’s future, benefitting youths already directly involved in the game as well as introducing the sport to the wider community."

A team of MaplesFS volunteers also went back to school to support the National Council of Voluntary Organisations ("NCVO"), a local not-for-profit charitable organisation dedicated to the care, education and wellbeing of children in Cayman. This was the third year that MaplesFS was invited to help the NCVO's two educational programmes, Miss Nadine's Pre-School and The Jack and Jill Nursery, prepare for the upcoming school year. More than 35 MaplesFS volunteers rolled up their sleeves to paint, clean, move furniture and setup classrooms in anticipation of the new term so that the schools' 84 students could make a fresh start to the school year. The volunteers repainted and reorganised classroom furniture, as well as refreshing exterior walls and hallways throughout the school. 

Earlier this year, MaplesFS clients gifted US$4,625 to the NCVO in benefit of outdoor recreational equipment and a MaplesFS literacy alcove at the Nadine Andreas Residential Foster 九游娱乐电玩城home, as well as general supplies for the foster 九游娱乐电玩城home, pre-school and nursery. 

"MaplesFS is grateful for the opportunity to sponsor local children’s activities and initiatives, particularly those that promote education, health and wellness," said Scott Somerville, Chief Executive Officer at MaplesFS. "There is nothing more important than supporting the development of our youth, and initiatives run by not-for-profit organisations such as these provide an essential resource and much needed support to Cayman’s future generations."

Over the last quarter, MaplesFS on behalf of its clients and staff dress down funds has also donated US$21,250 to Cayman HospiceCare’s music therapy programme and full circle grief counselling, as well as US$13,812.50 to the Cayman Islands Crisis Centre towards the refurbishment of its existing building, the development of a new website and the broadcast of public service announcements on national television. The firm also donated US$1,750 to the Special Needs Foundation Cayman in sponsorship of two months of the organisation’s respite care programme and US$6,250 to Big Brothers Big Sisters of the Cayman Islands towards mentorship training, tutoring sessions and extracurricular activities.  
 
]]>
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<![CDATA[Maples and Calder Advises on ECAF I Ltd's US$1.21bn ABS]]> Issuer") on the Cayman Islands legal aspects of its US$1.21 billion asset backed securitisation of a diverse portfolio of 49 aircraft with an initial appraised value of approximately US$1.57 billion.  The offering comprised three tranches of note and is the largest pooled-aircraft ABS transaction in almost a decade.  

As well as advising the Issuer, a separate team from Maples and Calder advised Element Financial Corporation on the upstream funding structure being put in place to facilitate equity investment into the Issuer.  Maples Fiduciary in the Cayman Islands, Ireland and Luxembourg also provided fiduciary and administrative support in connection with the transaction.  Element Financial Corporation acted as the structuring agent while Deutsche Bank, BNP Paribas and Citigroup acted as joint bookrunners for the offering. 

The Maples and Calder team in Cayman was led by partner Scott Macdonald and associate Barnabas Finnigan on the Issuer side, with partners Sheryl Dean and Philip Dickinson providing advice in respect of the upstream funding structure.  The Maples Fiduciary team was led by Mora Goddard in Cayman with assistance from Ronan Carroll in Luxembourg and Padraic Doherty in Ireland.  

"We are delighted to have advised on this complex and high-profile transaction, which showcases Maples and Calder's unique expertise in aircraft finance, fund structures and securitisation, and in combining our Tier 1 ranked structured and asset finance legal capabilities," said Alasdair Robertson, partner and global head of Finance group at Maples and Calder.  "Furthermore, this deal demonstrates the Maples group's ability to take advantage of one of our core strengths as a one-stop-shop: providing legal advice, fiduciary services and administrative support in Cayman, Ireland and Luxembourg."]]>
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<![CDATA[Maples Fund Services Establishes West Coast Presence with the Opening of its San Francisco Office]]>
"MaplesFS is recognised globally for its proprietary technology and unique client service model and we are always looking to capitalise on opportunities to showcase this," said Tyler Kim, MaplesFS’ Chief Information Officer and Global Head of Fund Services. “Our legacy of innovation is a natural fit with what the west coast market, and the Silicon Valley in particular, represents and we look forward to continuing to develop and diversify our fund services offering.”

While the Silicon Valley has a long-established reputation as a centre for technological innovation, there is a burgeoning asset management industry primed for significant growth. With the recent explosion of marketplace and peer-to-peer lending, hedge funds are beginning to recognise the sector’s potential as a long-term investment opportunity and an alternative to traditional bank debt. This will, in turn, drive demand for service providers who can provide the resources and expertise to support the industry’s advancement.

Maples Fund Services is uniquely positioned to capitalise on this opportunity and boasts an optimal balance of best-of-breed core systems and bespoke proprietary systems that allow the firm to be dynamic in responding to clients’ needs as they evolve in response to industry and investor demands. This forward-thinking approach has been consistently acknowledged by the industry. In addition to numerous awards, the firm has been included on the Institutional Investor Tech 50 list for three consecutive years. The annual feature is a who’s who of financial technology leaders whose vision helps translate innovation into operational and competitive advantage.

Greg Knapp joins the firm as Senior Vice President – Client Solutions and Relationship Management, to lead the San Francisco office. He brings over 15 years’ experience in financial services with a focus on business development, having previously held senior positions with a number of global fund services and fund administration firms. He will be supported by Kim and Jason Brandt, MaplesFS’ Regional Head of Fund Services – Americas to manage relationships and deliver innovative solutions to new and existing clients while supporting the continued growth of the fund services business.

“We are thrilled to welcome Greg to Maples Fund Services and look forward to his support as we grow our US presence,” said Brandt. "He brings strong relationships, an in-depth understanding of the local market, and expertise in the marketplace and peer-to-peer lending space that will be invaluable as we establish our reputation and offering in the region.”

Scott Somerville, MaplesFS’ Chief Executive Officer added, “The success we’ve realised following the launch of our Boston office last year has been tremendous and further confirms the opportunity we see in the US market. We remain as committed as ever to strengthening our presence and offering in the region and look forward to this next phase of growth.”

Maples Fund Services is located at 201 Mission Street, 12th Floor in San Francisco. ]]>
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<![CDATA[MaplesFS Expands Global Footprint with Netherlands Office Launch]]>
“MaplesFS is renowned internationally for responsive and client-driven service and we are continually reshaping our service lines to address the changing demands of the industry,” said Tom Davies, MaplesFS’ Regional Head of Fiduciary – Europe. “Recently we have seen our clients looking for a MaplesFS service offering in Amsterdam, as they have noticed consolidation in the jurisdiction’s fiduciary market and, as a result, increasingly limited choice of premier service providers on the ground. We are delighted to now be able to offer a Netherlands solution in response to their needs.”

The Dutch financial sector is favourably positioned in Europe, traditionally having been a desirable location for major financial institutions due to its modern legislation and stable business climate. Maples Fiduciary’s clients around the globe increasingly have Netherlands-specific needs and interests and the expansion allows the firm to offer clients a full-service solution across multiple jurisdictions.

Jan Hendrik Siemssen joins MaplesFS as Senior Vice President to lead the Netherlands office. With a career spanning over two decades in the Netherlands, he has extensive experience in fiduciary services and has held senior positions at a number of large Dutch trust companies where he had responsibility for various operational and product divisions covering structured finance, securities lending, risk management and corporate trust. He will work closely with Davies and Stephen O’Donnell, Regional Head of Fiduciary – Europe as the Netherlands office evolves.

“We are proud to continue our evolution as a global leader in the provision of fiduciary and corporate administration services through our expansion in the Netherlands," said Scott Somerville, MaplesFS' Chief Executive Officer. “It is exciting to welcome someone of the calibre of Jan Hendrik to Maples Fiduciary. His relationships and experience in the Netherlands and continental Europe will be invaluable as MaplesFS continues to expand its presence and strength of offering in Europe. With Jan Hendrik at the helm, we will be able to further capitalise on potential opportunities and expand our global footprint, while providing in-depth understanding of the local market and outstanding service to our existing client base in the region.”]]>
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<![CDATA[Maples and Calder Partner Named Lawyer of the Year for Private Funds]]>
Selections were based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide, where only specialists who have met independent international research criteria are listed.

Iain joined Maples and Calder in 2008 and specialises in the formation of private equity funds, advising on their resulting downstream transactions. He also works extensively with hedge fund managers and their onshore counsel advising on the structuring and ongoing maintenance of hedge funds. Iain represents large financial institutions and investment managers, including well-known sponsors of private equity and hedge funds, as well as boutique and start-up investment managers.

In addition to Iain's prestigious honour, Maples and Calder secured the Country & State Award as top law firm in the Cayman Islands.]]>
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<![CDATA[Maples Fiduciary Awarded Deal of the Year in the Islamic Finance News Awards]]>
The use of DIFC SPCs has increased in both volume and complexity over the past two years and remains the preferred vehicle for the financing and acquisition of local GCC assets. Maples Fiduciary has been involved in a number of these high profile transactions including the first ever DIFC SPC. This included the incorporation of a DIFC SPC for the financing of Dubai’s Salik toll road system and various listed public sukuk issuances.

“Maples Fiduciary’s recognition at these awards is an acknowledgement of our commitment to the region, the DIFC and Islamic Finance”, said Andrew Millar, Regional Head of Fiduciary – Middle East. “We have worked hard to provide a streamlined full service approach to the DIFC SPC incorporation process and provide fiduciary services to both simple local transactions as well as complex transactions.”

The Maples group comprises legal services offered by Maples and Calder and specialised fiduciary, accounting, regulatory compliance and administration services from MaplesFS, through its operating divisions, Maples Fund Services and Maples Fiduciary. The Maples group’s highly qualified teams on the ground in Dubai bring deep industry leadership to MENA-based clients, including Sharia-complaint solutions.

In addition to the “Ijarah Deal of the Year”, the Maples group’s strong performance in the region has been consistently acknowledged. The firm was also awarded the “UAE Deal of the Year,” “Social Impact Deal of the Year,” “Restructuring Deal of the Year,” “Regulatory Capital Deal of the Year,” “Perpetual Deal of the Year,” “Commodity Murabahah Deal of the Year,” and “Best Law Firm – Offshore Finance” by IFN, as well as "Best Fund Administrator – Private Equity" and "Best Fund Administrator – Sharia-compliant Funds" by MENA Fund Manager. ]]>
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<![CDATA[Maples and Calder Advises on LATAM Airlines' First EETC Issue]]> LATAM"), the leading airline group in Latin America, announced that its private offering of two tranches of Enhanced Equipment Trust Certificates ("EETCs") priced on Thursday, 14 May 2015.  The deal met with such popularity, that it was immediately upsized to an aggregate amount of US$1,020,823,000.  Funds raised will be utilised to finance the carrier's upcoming 2015 and 2016 deliveries, comprised of 11 new Airbus A321-200 aircraft, two new Airbus A350-900 aircraft and four new Boeing 787-9 aircraft. 

"Maples and Calder is pleased to have been selected as Cayman Islands counsel to act in connection with this innovative financing by known market leaders," said Wanda Ebanks, asset finance partner in the law firm's Cayman Islands office. 

Together with associate, Shari McField, they advised LATAM in connection with the Cayman Islands legal aspects of the transaction, including the lease and financing arrangements in respect of the underlying aircraft to be acquired with the funds raised.  MaplesFS Limited also provides directors and corporate administration services to the Cayman Islands entities in the transaction. 

"The Maples group continues to be the service provider of choice for complex and unique finance transactions as demonstrated with this deal," said Mark Western, partner and global head of asset finance.  "We aim to add value; bringing our depth of market experience to each transaction, as well as our ability to holistically work with our clients.  Intrinsic in our mandate is the commitment to provide pragmatic, commercially acceptable and timely advice and support to our clients, across both legal and administrative functions." 

LATAM is the first airline in Latin America to issue EETCs.  The private offering consists of Class A and Class B Certificates.  Moody's and Standard & Poor's rate the two tranches A2 and Baa2, and A- and BBB-, respectively. 

Up to four Cayman Islands special purpose vehicles will participate in the transaction.]]>
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<![CDATA[Maples Fund Services Celebrates 10 Years of Excellence]]>
Since commencing operations in the Cayman Islands in 2005, Maples Fund Services has grown to become a recognised global leader in the provision of fund administration and accounting services to an international client base comprised of top tier financial institutions, fund managers, institutional investors and high net worth individuals.

"This is a proud moment for our firm. I would like to thank all of our clients for their continued commitment and support," said Toni Pinkerton, Global Head of Fund Services at Maples Fund Services. "Of course, our success has very much been a team effort and every member of staff has played a part in our achievements. Our teams in Asia, Cayman, Europe, the Middle East and North America have all contributed to our success across their respective jurisdictions, navigating tough economic climates, increasing regulation, new office openings, expansions and acquisitions.

Now in her fifth year as Global Head of Fund Services, Pinkerton has been with the firm since its inception and has been integral to its growth and success. In April 2015, Pinkerton was joined at the helm by Tyler Kim, Maples Fund Services’ Chief Information Officer, who took on the additional role of co-Global Head of Fund Services in recognition of the accelerating importance of technology to fund services globally. "Over the past decade, Maples Fund Services has grown from strength to strength, establishing a presence across all major financial jurisdictions and gaining the respect and trust of our clients and peers," said Kim. "I am excited to join Toni as a Global Head as Maples Fund Services continues to excel, particularly in the areas of technology and regulatory reporting. Our value-added services are becoming evermore important to our clients and only further differentiate Maples Fund Services among its competitors."

Maples Fund Services' strong performance has been consistently acknowledged in the market. The firm has been named an Institutional Investor "Tech 50 Firm" three years in a row. Additionally, over the past year, it has been awarded "Best European Fund Administrator – under $30 billion single manager," "Best European Fund Administrator – small and start-up firms," "Best US Administrator – under $30 billion client service," "Best Asia Administrator – under $30 billion overall" and "Best Asia Administrator – under $30 billion fund of hedge funds" by HFMWeek as well as "Best Fund Administrator – private equity" and "Best Fund Administrator – sharia compliant funds" by MENA Fund Manager.

As part of the Maples group, the combination of fund and fiduciary services offered by MaplesFS, by way of Maples Fund Services and Maples Fiduciary, alongside the legal expertise offered by leading international law firm Maples and Calder, is being recognised by the industry as a formidable combination and a welcome alternative to the bank custodian or private equity backed administration model.

"Our reputation for excellence and innovation continues to grow and we look forward to building on this in the future," said Scott Somerville, Chief Executive Officer of MaplesFS. “We are not only proud of what we have achieved over the past decade but also excited about what the next 10 years hold for us, as we continue to build out our world-class service offering and provide solutions to help our clients succeed." ]]>
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<![CDATA[Maples Group Recognised in European Hedge Fund Services Awards]]>
The Maples group, comprised of legal services offered by Maples and Calder and specialised fiduciary, accounting, regulatory compliance and administration services from MaplesFS, through its operating divisions Maples Fund Services and Maples Fiduciary, offers a full-service solution to financial, institutional, business and private clients around the world.

The group's integrated and synergistic service offering has resulted in many successes over the year. Maples and Calder is consistently ranked as the leading multi-jurisdictional law firm by legal directories and independent research in terms of technical knowledge, commercial awareness and client service. Clients and competitors alike acknowledge the firm as the market leader in each of their principal practice areas, particularly funds, finance and corporate.

Maples Fund Services' strong performance acknowledges its ability to remain a stable option for existing and new clients during uncertain market conditions. The firm has continued to provide a high standard of client service through bespoke technology solutions including MaplesFS Connect, which enables investment teams to understand and attribute sources of portfolio risk, and to drill-down into underlying data investigating causal factors via an online portal.

The annual HFM European Hedge Fund Services Awards are an evening of recognition and reward for those hedge fund service providers that have demonstrated exceptional customer service and innovative product development over the past 12 months.
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<![CDATA[MaplesFS Starts the Year in Charitable Spirit]]>
Last month, the National Trust  received US$26,259.16 towards one of the organisation's 2015 education initiatives; a new education centre in the Dart Park, South Sound. Donated funds will be put towards building the centre, which will serve as a location for afterschool programmes, summer camps, school field trips and events.

"We are overwhelmed by the generosity of MaplesFS, which has provided for the betterment of our community, environment and heritage for many years," said National Trust Executive Director, Christina McTaggart Pineda. "We are incredibly grateful to have a corporate partner like MaplesFS who gives back to the Cayman Islands in such a meaningful and lasting way."

MaplesFS also made a US$15,106.06 contribution towards one of The Pines residential projects, The Pines Villas. “We are so blessed to have had continuous financial support from MaplesFS on behalf of its clients. This generous donation will help us with the overhaul of two of the villas that need some inside repair," explained Lynda Mitchell, Manager of The Pines. "The Pines Villas are rented to the elderly that are ambulatory and the constant upkeep can be quite costly. Receiving this large donation from MaplesFS will help us move forward with our plans to modernise the two villas.”

MaplesFS is a long-time supporter of The Pines, having gifted more than US$450,000 to the organisation over the last year for on-going enhancements to The Pines' new residential facility, which opened in March 2014.

MaplesFS also signed on as title sponsor of the Cayman Heart Fund and Children's Health Task Force's Get Active Challenge, an annual twelve-week fitness programme aimed at local high school students. MaplesFS recently donated CI$2,500 towards the programme, which started on 14 March 2015. The challenge provides one-on-one nutritional consultations, weekly education sessions on healthy habits and heart-healthy activities to its group of young participants.

Over the last quarter, MaplesFS on behalf of its clients has also made charitable donations to the Cayman Islands Public Library and the Cayman Airways Flight Club at Clifton Hunter High School.

"MaplesFS is honoured to be able to support local organisations in their efforts to educate, promote and provide to our community," said Scott Somerville, MaplesFS Chief Executive Officer. "We hope that our on-going commitment will assist these and other local organisations in keeping their programmes alive – and help continue to raise awareness of the importance of such initiatives." ]]>
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<![CDATA[Maples and Calder Advises First ICAV Registration with Central Bank of Ireland]]> The Irish office of leading international law firm, Maples and Calder, ("Maples") is delighted to announce the first registration with the Central Bank of Ireland ("CBI") of an Irish Collective Asset-management Vehicle ("ICAV"), following the enactment of the Irish Collective Asset-management Vehicle Act 2015 (the "ICAV Act").

PMAP ICAV

The Permal Group, a leading global alternative asset manager with approximately US$22 billion under management, is launching the ICAV as the Permal Managed Account Platform ICAV (the "PMAP ICAV"). 

PMAP ICAV will now seek formal isation from the CBI as an internally managed umbrella AIF with segregated liability between sub-funds. As an AIFMD compliant and regulated platform, it will complement the Permal Group's existing British Virgin Islands ("BVI") managed account fund range. The intention is to transfer accounts, totalling initially almost US$4 billion, to the PMAP ICAV.

In order to provide legal, regulatory, tax advice and fiduciary services across a diverse range of fund and manager locations, the Dublin, BVI, Cayman Islands, London and Hong Kong offices of the Maples group worked closely with the Permal Group advising on both the establishment of the PMAP ICAV, the transfer of assets and restructuring of the BVI platform. The Maples team in Dublin was led by Peter Stapleton and Ian Conlon, with Tim Clipstone and Heidi de Vries leading the BVI team.

Peter Stapleton, Investment Funds Partner in Maples' Dublin office commented: "We were delighted to be instructed by Permal and have the chance to work with them on this ground-breaking project.

Many of our clients and their international counsel have expressed a strong interest in the ICAV structure and we expect that the PMAP ICAV will be the first of many ICAVs registered this week and for strong growth to continue later this year. ICAV will offer international managers and institutions an additional option for structuring regulated, AIFMD compliant and best-in-class fund products from Ireland.

"It is a strong endorsement of the new regime that the first ICAV registration should be such a significant platform and we are confident that there will be many others, including clients we are also advising. I would also like to commend the respective teams at the IFIA, the CBI and Department of Finance for the work involved drafting the legislation and implementing the regulatory regime which will benefit the entire industry."

The registration of the first ICAV follows a series of notable firsts for the Maples' Dublin office including advising on: (i) the establishment of the first Irish investment limited partnership for private equity; (ii) isation of the first cross-border AIFM in Ireland; (iii) the first Irish UCITS ised by the CBI to Invest 100% in China A Shares under China's RQFII Scheme; and (iv) the first loan origination QIAIF.

About ICAV


The ICAV is a new form of Irish corporate vehicle which has been specifically designed for investment funds. The principal advantages of the ICAV include its own specific legislative regime, increased efficiencies on administrative and maintenance costs, ability to "check-the-box" for US tax purposes and that separate accounts for each sub-fund within an umbrella structure may be prepared.

For more information on ICAV, please visit our website:

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<![CDATA[Maples and Calder Launches New Legal Guides Service]]>
Guides may be ordered directly from the Maples and Calder website, which already boasts close to 150 guides.  Many of the guides are available in both Simplified and Traditional Chinese, and the offering will continue to expand over the course of the next 12 months with the inclusion of Irish-specific guides. 

Global Managing Partner, Henry Smith commented, "We are really pleased to see this come to fruition and, with the demand we've received already from clients, we look forward to expanding our legal guides service in the near future."

Please visit our Legal Guides page to learn more and to access this service.]]>
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<![CDATA[QIAIF Loan Origination- Another First for Maples and Calder]]> QIAIF") which will originate loans.

On 18 September 2014, the Central Bank of Ireland ("CBI") made revisions to the AIF Rulebook to allow loan origination to occur within QIAIFs in recognition of the demand for non-bank sources of finance.  Connect-Ireland Diaspora Loan Fund plc (the "Company") was ised by the CBI on 3 March 2015 as the first loan origination QIAIF.

The objective of the Company is to contribute to the recovery to the Irish economy through the creation and/or protection of employment in companies registered in and operating throughout Ireland.  The Company intends to achieve its investment objective through loan origination and engaging in all activities typically associated with lending transactions, which activities include participation in loans, participation in lending and the handling of assets which are realised as security.

"We are delighted to have advised Connect-Ireland Initiative Limited on the first loan origination fund to occur within a QIAIF and we wish them every success" commented Carol Widger, Investment Funds Partner in Maples and Calder's Dublin office.  "It is clear that Maples and Calder continues to set the bar on unique and ground-breaking deals on both a domestic and international basis."

The QIAIF deal, which was led by Carol Widger and ably supported by Deirdre Mcllvenna, follows a series of notable firsts for Maples and Calder's Dublin office, including advising on the establishment of the first Irish investment limited partnership for private equity; isation of the first cross-border AIFM in Ireland and the first Irish UCITS ised by the CBI to invest 100% in China A Shares under China's RQFII Scheme.]]>
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<![CDATA[Maples Fund Services Fulfils AIFMD Annex IV Reporting Requirements]]> AIFMD") Annex IV reports for December 2014 for seven European Union ("EU") jurisdictions, utilising its regulatory reporting platform.

AIFMD requires European and certain non-European alternative investment fund managers ("AIFMs") as well as non-EU alternative investment funds ("AIFs") marketing through national private placement regimes to submit highly detailed Annex IV reports to regulators as part of the industry’s on-going efforts to monitor systematic risk.

"We are pleased that our clients have entrusted us to assist with the diverse and complex challenges that AIFMD presents, and are proud that Maples Fund Services’ combination of highly-skilled professionals and technology infrastructure allows our EU and non-EU AIFM clients to fulfil their reporting obligations," said Scott Somerville, MaplesFS Chief Executive Officer.

Annex IV has been cited as one of the biggest regulatory challenges for impacted AIFMs. The regulation encompasses a wide range of reporting requirements with very specific calculations, including assets under management, liquidity profiles, breakdown of investments by type, geography and currency, concentrations, market and liquidity risk, borrowing and exposure risk, stress test results and leverage.

"AIFMD presents substantial operational challenges to AIFMs that can only be met by a significant allocation of resources and expertise," explained Tyler Kim, Maples Fund Services Chief Information Officer. "Our solution streamlines the completion of reports across multiple securities, funds, strategies and administrators, allowing managers to focus on their core competencies while ensuring that all aspects of the reporting process are handled by Maples Fund Services’ specialists."

Maples Fund Services’ complete AIFMD Annex IV reporting solution is part of a suite of regulatory and compliance services, which includes Form PF, Form CPO-PQR, OPERA and FATCA reporting requirements. The Maples group also provides a full-service solution to AIFs affected by AIFMD by way of MPMF Fund Management (Ireland) Limited ("MPMF"), a Central Bank of Ireland ised Irish-based AIFM. MPMF provides comprehensive, independent management oversight and regulatory reporting services to AIFs either via a fully hosted AIFM or using a delegation model. Both models provide local management and fulfilment of all regulatory requirements, allowing managers to focus on investment management and marketing. ]]>
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<![CDATA[Maples and Calder Announces New Partners]]>
The new partners in the Cayman Islands office include Greg Barwick, Philip Dickinson, Patrick Head, Andrew Keast and Patrick Rosenfeld.  Ian Conlon, Stephen McLoughlin, Eimear O'Dwyer, Enda O'Keeffe and Ciara O'Leary were appointed as partners in the Dublin office.  Manuela Belmontes and Harjit Kaur were elected in the Dubai and London offices, respectively.  

Global Managing Partner, Henry Smith commented, "It is with great pleasure that we announce the elections of these talented and dedicated professionals, each of whom has demonstrated expertise in their practice areas and a commitment to providing excellent client service.  With these appointments, Maples and Calder now has over 100 partners worldwide for the first time in the firm's history." 

Additionally, the firm is pleased to announce the recent recruitment of aviation finance specialist, Donna Ager as a partner in Dublin.]]>
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<![CDATA[Powerful Global Entity Management Further Distinguishes MaplesFS]]>
Responding to the increasing trend for investment management and private equity firms seeking to outsource these services for their global companies, the Maples group has led the market in developing its own proprietary technology. Entity management worldwide is an increasingly important aspect of fund administration and this innovation allows clients to consolidate everything worldwide across all jurisdictions with one provider via its secure, centralised and sophisticated online platform, Maples eServices.

MaplesFS is renowned for its service culture and willingness to invest in its cutting edge technology platform. Established in 10 jurisdictions around the world, MaplesFS is also well-placed to provide its services from locations that are strategically important to clients, offering a platform for all entities, regardless of the physical presence of the companies, enabling access to transaction information around the clock.

Guy Major, Global Head of Maples Fiduciary, a division of MaplesFS, said, "We are proud to have secured this mandate from TPG following a competitive bidding process. This clearly sets MaplesFS at the forefront in terms of combining multi-jurisdictional entity management, powerful technology and internal processes into one convenient platform. We believe it will be the future of corporate administration and fiduciary services as sophisticated managers look to create efficiencies."

To find out more about Maples eServices, please click here. ]]>
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<![CDATA[Maples Fund Services - Excellence in the MENA Region]]>
“Maples Fund Services’ recognition at these prestigious awards is a tremendous acknowledgement of our commitment to growth in the region. The expansion of our service offering and highly qualified team enables us to serve as an indispensable partner to MENA’s evolving investment funds industry,” said Fred Tabbal, Regional Head of Fund Services – Middle East.

Increased demand for Sharia compliant services from managers, regulators and other financial stakeholders in 2014 saw the development of customised Sharia compliant reporting solutions to Maples Fund Services’ existing reporting platform, MaplesFS Connect. As a result, Maples Fund Services offers a unique service that meets the diverse needs of new and existing Sharia compliant investment funds.

Maples Fund Services’ affiliate, the leading international law firm, Maples and Calder, received “Best Offshore Law Firm” at the awards ceremony. Recognised as a leading provider of legal, fiduciary and fund services globally, the Maples group offers comprehensive on the ground solutions to MENA-based investment funds.]]>
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<![CDATA[Maples Fund Services Hires New York Based Senior Vice President Focused on Client Solutions]]>
Greg will work closely with Jason Brandt, Regional Head of Fund Services – Americas, and Toni Pinkerton, Global Head of Fund Services, to continue to provide investment managers, institutional investors and family offices custom solutions for their fund administration, middle office and reporting needs. With the recent opening of the Boston office and the continued enhancement of products offered, including full regulatory reporting, Maples Fund Services is committed to expanding its presence and service offering in North America.

“Greg brings a wealth of industry experience and is well-known to many in the US market”, said Pinkerton. “This will be extremely valuable as we continue to expand our presence in the region, extend our client footprint and continue to enhance the outstanding service we provide to our existing client base.”

Greg is a Harvard alumnus and joins Maples Fund Services from a risk analytics provider where he was Senior Consultant for the Business Development team focused on alternative investment firms. He has over 27 years experience working with hedge funds, private equity firms and traditional asset managers and has previously held similar roles at Bloomberg, Citco and other technology and alternative fund service providers. ]]>
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<![CDATA[MaplesFS Lends a Helping Hand to Local Organisations in Time for the Holidays]]>
In honour of World Alzheimer's Month in September, MaplesFS donated CI$750 in support of ADACI efforts locally. The local organisation, which was formed in 2012, has been working tirelessly over the last two years to raise awareness of the disease in the community, as well as to educate and provide support for people with dementia, their carers and family.

"The very generous donation from MaplesFS will go towards the funding of educational programmes and training to caregivers, as well as to the general public, and providing respite opportunities for caregivers," said Dorothy Davis, ADACI Chairperson. "A big thank you to the management and staff of MaplesFS for their support."

The East End Primary School PTA recently received a CI$1,500 boost from MaplesFS towards its Community After School Programme. The popular programme provides local primary school students with a mix of academic, sports and leisure activities in a supervised environment after the school day ends. These activities complement the school’s educational efforts and help to develop active, well-rounded and confident young adults in the East End district.

This is the second donation the programme has received from MaplesFS in the last year. "The success of the After School Programme is reflected in the positive development of our children over the past three years," said East End Primary School President, Lori-Ann Daley. "I would like to thank MaplesFS for their continued generous support in our efforts to provide wholesome and educational activities for our youth. MaplesFS’ commitment to the programme continues to make an academic and social difference in the lives of our students."

The Maples group has also been a long-time supporter of Junior Achievement Cayman Islands, and MaplesFS was pleased to recently lend further support to the platform in the form of a CI$1,000 donation towards its in-school and after-school practical business programmes. A long-standing initiative on island, for over 20 years the organisation has been inspiring and preparing young people for success through educational programmes focused on business, economics and enterprise. The programme teaches local students key business skills, including work readiness, entrepreneurship and financial literacy, to better prepare them for the workforce as Cayman’s next generation of business leaders.

In the spirit of the holiday season, MaplesFS gifted CI$935 to the National Housing Development Trust and its annual Government Affordable Housing Communities Kids Christmas Party. This special event serves to bring Christmas to more than 150 kids within the West Bay, Windsor Park, Eastern Avenue and East End communities. The National Housing Development Trust is a non-profit organisation that endeavours to provide affordable housing for low-income families.

"MaplesFS is honoured to be able to support local organisations in their efforts to educate, promote and provide to those in need in our community, particularly around the holidays," said Scott Somerville, MaplesFS Chief Executive Officer. "We hope that our on-going commitment will assist these and other local organisations in keeping their programmes alive – and help continue to raise awareness of the importance of such initiatives." ]]>
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<![CDATA[MaplesFS Donates to NCVO Record-Breaking Telethon]]>
Hosted by on-air personalities and broadcast live on local TV and radio stations, the organisation's annual flagship fundraiser encourages members of the public to call in and make donations over the course of the evening. However, the organisation also relies on corporate donations in the lead up to the show.

This year, the telethon and supporting activities raised a record-breaking CI$138,000, which included a CI$4,000 donation from MaplesFS, presented on the night by Chief Risk Officer, Phillipa White. All funds will benefit the organisation's children's programmes, including the Nadine Andreas Residential Foster 九游娱乐电玩城home, Miss Nadine's Pre-School and the Jack and Jill Nursery.

MaplesFS provided additional support to the NCVO over the summer, when a team of MaplesFS volunteers went back to school in support of Miss Nadine's Pre-School and the Jack and Jill Nursery.

This was the second year that MaplesFS was invited to help the two educational programmes prepare for the upcoming school year. MaplesFS volunteers rolled up their sleeves to paint, clean, move furniture and setup classrooms in anticipation of the new term so that the schools' 84 students could make a fresh start to the school year – literally. The volunteers repainted and reorganised classroom furniture, as well as refreshing exterior walls and hallways throughout the school.

MaplesFS Chief Executive Officer Scott Somerville said, "MaplesFS has been a long-time supporter of the NCVO and we are pleased to be able to provide on-going support to the organisation, whose hard work and quality childcare play an essential role in developing Cayman's next generation."

The NCVO is a local not-for-profit charitable organisation dedicated to the care, education and wellbeing of children in Cayman. ]]>
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<![CDATA[Maples Fiduciary Continues to Strengthen its Asia Pacific Offering]]>
"Having a Mandarin- and Cantonese-speaking professional join our team to provide director services was driven by client demand," explained Hugh Thompson, Global Head of Maples Fiduciary, also based in Singapore. "We are seeing increasing demand from Chinese fund managers who, in addition to having a director based in the Cayman Islands, desire a Mandarin- or Cantonese-speaking professional director based in the Asian time zone. Yonn's experience, which includes more than ten years in the People's Republic of China working on real estate projects involving Cayman Islands funds, will provide an invaluable benefit to our clients."

Yonn offers a unique advantage to Chinese clients, who will now be able to overcome the language barriers experienced at board level when deal documentation and negotiations are drafted or conducted in Chinese. In addition, with Yonn based in Singapore, Asian based clients will be able to experience a professional and responsive service from the Asian time zone.

Yonn will act as an independent director for a wide range of alternative investment funds including hedge funds, fund of hedge funds and private equity funds, as well as to Singapore-domiciled entities. Due to Yonn's language capabilities, knowledge and understanding of local culture, she will naturally be suited to serve on closed- and open-ended investment funds where the investment manager is based in Asia.

Maples Fiduciary's Singapore office provides company formation, registered office, company secretarial, client accounting, voluntary liquidations and directorship services for Singapore-domiciled entities. In addition, the team also provides director services for Cayman Islands, Hong Kong and British Virgin Islands-domiciled entities where an Asian time zone presence is needed. Together with its affiliates, the international law firm of Maples and Calder and Maples Fund Services, which provides award-winning accounting, regulatory compliance and administration services, the Maples group provides a comprehensive solution for fund managers in the region.

"Our growth strategy is based on our long-term commitment to the Asia Pacific region," said Scott Somerville, Chief Executive Officer at MaplesFS. "With Yonn's extensive experience and strong credentials, she will make invaluable contributions to the enhancement and expansion of our service offering in Asia."

The Maples group opened its first Asia law office in Hong Kong in 1994. This was followed by the establishment of MaplesFS in 2006, which has continued to grow significantly over the last eight years to more than 50 employees. Maples and Calder opened its office in Singapore in 2012 and MaplesFS' Singapore office opened a year later in 2013. The Maples’ Singapore group now comprises 19 lawyers and professionals. The group recently moved into its new 4,500 square foot office space in September.

Prior to joining Maples Fiduciary, Yonn was a consultant for two foreign funds in Shanghai. She was previously employed by Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. and seconded to Keppel Land's Tianjin Eco-City Ayala Land Development Co., Ltd., and at Mapletree Logistics Trust Management Ltd. in Beijing. Yonn speaks English, Mandarin and Cantonese and is capable of conducting board meetings in both English and Mandarin. ]]>
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<![CDATA[MPMF - the Maples Group Comprehensive AIFM Solution]]> Since the Alternative Investment Fund Managers Directive ("AIFMD") came into full effect, MPMF Fund Management (Ireland) Limited ("MPMF") is continuing to gain momentum. MPMF has on-boarded a number of well-known alternative investment funds ("AIFs") and anticipates continued significant interest in the services offered.

AIFMD is the European Union ("EU") directive that came into force on 22 July 2013, with a transitional compliance date of 22 July 2014. The directive regulates EU and non-EU fund managers that market AIFs to investors domiciled, or with a registered office, in the EU.

MPMF, a Central Bank of Ireland ised alternative investment fund manager ("AIFM"), is the Maples group's full-service solution to AIFMD, providing comprehensive, independent management oversight and regulatory reporting services to AIFs.

When AIFMD posed significant challenges to fund managers and investors last summer, requiring EU-based funds to comply with new and extensive isation, ongoing operation and transparency requirements, MPMF's robust AIFM solution ensured managers were able to focus on managing their funds by providing seamless access to the local AIF market.

MPMF's flexible full-service offering includes two approaches: the Hosted AIFM model and the Delegation model. Both models provide local management and fulfilment of all regulatory requirements, allowing managers to focus on investment management and marketing.

"MPMF allows fund managers to focus on their core competencies, while ensuring that all aspects of governance and reporting are handled by our AIFMD specialists," said Scott Somerville, Chief Executive Officer of MaplesFS.

In addition, managers benefit from the complete range of services provided by the Maples group, which includes legal, regulatory, tax, compliance, fiduciary, accounting and administration services through its three operating divisions Maples and Calder, Maples Fiduciary and Maples Fund Services.

Furthermore, an experienced team of investment and risk management professionals based in the Cayman Islands and Dublin, as well as the Maples group's industry leading technology and proprietary reporting solutions offer a one-stop-shop AIFMD solution. As a direct result, some of the world's largest banks and asset managers now form the basis of MPMF's growing client list.

"Investors are increasingly focused on fund governance, and in particular risk management and compliance, due to the increasing requirements of global regulators," said Naomi Daly, Senior Vice President at MPMF. "MPMF provides a robust governance and compliance solution to AIFMD, with the oversight of a highly knowledgeable risk management team plus our ability to generate comprehensive in-house risk and regulatory reports."

Since July 2013, MPMF has seen steady increase in its client base and today provides both non-UCITS management company and AIFM services spanning 34 funds and 21 investment managers, covering a wide range of investment strategies. MPMF has successfully passported its management services into Germany and is also ised to service Cayman Islands funds.

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<![CDATA[The Maples Group Recognised in US Hedge Fund Services Awards]]>
The Maples group, comprised of legal services offered by Maples and Calder and specialised fiduciary, accounting, regulatory compliance and administration services from MaplesFS, through its operating divisions Maples Fund Services and Maples Fiduciary, offers a synergistic approach to the North American region.  With offices in the British Virgin Islands, the Cayman Islands, Delaware, New York, Montreal and the most recent opening of Maples Fund Services in Boston, the Maples group continues to  solidify its brand and offering in the US market.

Commenting on the award, Chief Executive Officer at MaplesFS, Scott Somerville said, "This award highlights our investment in the region and our commitment to providing our clients with exceptional service.  We look forward to seeing continued growth and expansion in the region as the service provider of choice."

Maples Fund Services' strong performance has been consistently recognised by the industry.  The firm has been named an Institutional Investor "Tech 50 Firm" three years in a row.  Additionally, over the past year, it was awarded "Best European Fund Administrator - under $30 billion single manager" by HFMWeek, "Best Hedge Fund Administrator – Excellence in Technology and Regulatory Solutions" by the Hedge Fund Journal, and "Best Fund Administrator – Private Equity and Best Fund Administrator – Hedge Funds" by MENA Fund Manager.

In addition to consecutive wins as "Best Offshore Law Firm" at the US Hedge Fund Services Awards, Maples and Calder has previously received the same accolade in the HFM European Hedge Fund Services Awards.  Among a number of other recognitions from the industry, the firm was similarly named "The Leading Offshore Law Firm" by the Hedge Fund Journal and "Private Funds Law Firm of the Year" by Who's Who Legal in 2014.

"We are delighted to be recognised by a publication so highly respected in our industry," said Global Managing Partner at Maples and Calder, Henry Smith. "As market leaders in offshore legal services, this award for the fourth year in a row is further testament to the quality of the work at Maples and Calder, and of the Maples group as a whole."

HFMWeek is the leading resource of fund industry news and events for the international hedge fund community.]]>
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<![CDATA[Opalesque Roundtable-Luxembourg Leads the Way for European Fund Industry]]>
With more than 2.4 trillion EUR in net assets under management of UCITS and 500 billion EUR in alternative investment funds, Luxembourg is the largest investment fund centre in Europe and the second largest in the world after the US. It is the largest global distribution centre for investment funds, with its UCITS offered in more than 70 countries around the world.

The country’s dominance in the fund sector has reached a point, in Europe at least, where people aren't asking, “Why Luxembourg?” but rather, “Why not?”

Co-sponsored by Maples Fiduciary, a panel of industry experts discuss the country’s success to date, future trends and growth, regulatory restrictions and solutions surrounding AIFMD – and why Luxembourg is fast becoming the jurisdiction of choice for managers and investors worldwide.

Click here to read the full Opalesque Luxembourg Roundtable.]]>
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<![CDATA[Maples Fund Services Establishes Boston Footprint]]>
In a recent article with Hedgeweek, Jason Brandt, Regional Head of Fund Services – Americas, discusses the strategy behind Maples Fund Services' newest office opening in Boston and future plans for the US market.

Click here to read the article in its entirely. ]]>
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<![CDATA[Maples and Calder Counsel elected President of new Women's Shipping Association]]>
WISTA is an international organisation for women in management positions involved in the maritime transportation business and related trades worldwide.  It is a major player in attracting more women to the industry and in supporting women in management positions.  With networking, education and mentoring as their focus, they seek to enhance members' competence and empower career success.  

WISTA Cayman launched with its first meeting on 29 August 2014 at the offices of international law firm, Maples and Calder.

The local membership comprises a cross section of members who have already significantly contributed to the enhancement of the local maritime industry.  The newly elected board of directors include: Sherice Arman of Maples and Calder (President), Dorisley Jackson of the Cayman Islands Shipping Registry (CISR) (Secretary), Vangie Hunter of Hyde Agencies (Treasurer), Exie Tomlinson-Panton (CISR), Lorna Washington (CISR), and Natasha Bunting (Cayman Management).

WISTA Cayman President, Sherice Arman is looking forward to the challenge of taking the helm of this new organisation in Cayman.  "It is an exciting opportunity to lead a group of professional women who have dedicated their careers to the development of the jurisdiction's shipping industry.  The enthusiasm within this group is overwhelming and we are already preparing to tackle a long list of goals that we want to accomplish," she said.

The Cayman chapter will be introduced at the next WISTA AGM in Limassol, Cyprus from 8 -10 October 2014, where the President and Secretary will be in attendance.]]>
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<![CDATA[The Maples Group Recognised in Asia]]>
The Maples group, comprised of legal services offered by Maples and Calder and specialised fiduciary, accounting and administration services from MaplesFS, through its operating divisions Maples Fund Services and Maples Fiduciary, offers a synergistic approach to Asia. The Maples group's growth strategy in the jurisdiction is based on a long-term commitment to development in the Asia Pacific region, with the first law office opening in Hong Kong in 1994, followed in 2006 by the establishment of MaplesFS' presence. Offices in Singapore were opened in 2012 and 2013, and in 2014, Maples Fund Services acquired the Hong Kong and Singapore operations of Vistra Fund Services, further expanding its presence of in Asia.

Maples Fund Services' strong performance has been consistently recognised by the industry. The firm has been named an Institutional Investor "Tech 50 Firm" three years in a row. Additionally, over the past year, it was awarded "Best European Fund Administrator - under $30 billion single manager" by HFMWeek, "Best Hedge Fund Administrator – Excellence in Technology and Regulatory Solutions" by the Hedge Fund Journal, and "Best Fund Administrator – Private Equity and Best Fund Administrator – Hedge Funds" by MENA Fund Manager.

In addition, Maples group client, China Life Franklin Asset Management Co., Limited, the most prominent joint venture between asset management firms in the east and west, was awarded "Best Greater China Fund" for its China Life Franklin Special Event Fund. MaplesFS acts as the trustee for the China Life Franklin Fund, and provides full administration services, including the fund accounting and registrar transfer agent services. Maples and Calder serves as Cayman Islands legal counsel to the unit trust. ]]>
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<![CDATA[Maples advises on Global M&A Deal of the Year: Africa]]> Maples and Calder's London office acted as BVI counsel to Videocon Group on the sale of its 10% stake in a giant Mozambique gas field, to ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) for $2.475 billion.  The buyers acquired 100% of the shares of Videocon Mozambique Rovuma 1 Ltd, the company holding the 10% interest in the Rovuma Area 1 offshore block, Mozambique, from Videocon Mauritius Energy Ltd.  Area 1 covers approximately 2.6 million acres in the deepwater Rovuma Basin offshore Mozambique and represents the largest gas discovery offshore East Africa.  This investment is expected to further enhance the strong business and cultural links between Mozambique and India. 

London-based partner Matthew Gilbert led the Maples and Calder team, which included Royan George. This deal was recently awarded 'Global M&A Deal of the Year- Africa' at the 2014 American Lawyer Global Legal Awards.

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<![CDATA[Maples Fund Services Launches Boston Office]]> hedge fund, fund of hedge fund, and private equity managers, located in Boston, and it also materially improves its ability to be closer and more accessible to clients and their investors across the US market. In addition, the team will bring the firm's extensive experience in servicing family offices, pension plans, endowments and foundations and institutional investors to the Boston market.

"On the back of our recent strategic acquisition in Asia, we are extremely positive about the continued global expansion of our fund administration business through the opening of the Boston office", Scott Somerville, CEO of MaplesFS, said. Jason Brandt, Regional Head of Fund Services, North America, is leading the efforts on the ground in Boston, while continuing to have management responsibility for the entire North American fund services business. Domenic Rinella, Senior Vice President, and Joshua Poirier, Vice President, have joined the team in Boston to focus on client relationship management and to establish a strong foundation of experienced local market experts to serve Maples Fund Services' growing US client base. "We believe there is significant long-term opportunity in this market segment. Our Boston office will provide us further opportunity to diversify our service offering with universities, endowments, family offices and private equity firms, which are heavily concentrated in Boston," Brandt said. "A Boston presence increases business development flexibility in targeting clients who want a local US-based administrator and it also provides us with the ability to work more closely with onshore law firms and service providers."

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<![CDATA[Maples advises Kuwait Energy plc on its $250m notes offering]]> Maples and Calder's London office acted as BVI counsel to Kuwait Energy plc on its $250 million high-yield bond offering. 

Kuwait Energy is an independent MENA oil and gas exploration and production company based in the Middle East, overseeing operations in various countries including Egypt, Iraq, Yemen and Oman.

A portion of the proceeds of the bond will be used to refinance existing bank facilities, partially fund capital expenditures, and for general corporate purposes. London-based partner Matthew Gilbert led the Maples and Calder team, assisted by associate Joanna Dinning.

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<![CDATA[Maples and Calder partner launches 'Drafting British Virgin Islands Trusts']]> Maples and Calder is pleased to announce the publication of 'Drafting British Virgin Islands Trusts', co-written by London-based partner, Tony Pursall. The book, co-ed with James Kessler QC and Naresh Chand, is intended as an aid to the British Virgin Islands drafter.

A first-of-its-kind, 'Drafting British Virgin Islands Trusts' takes a clear, modern approach to legal drafting, offering an extensive selection of practical trust precedents in plain English with a detailed explanation of their terms and related drafting issues to suit a wide range of requirements. "I felt there was a need for clear, well-explained British Virgin Islands trust precedents in plain English," explained Tony Pursall. "I hope that the publication of this book will enable clients and their advisers to better understand the documents and to focus on the real issues; resulting in better trust documents."

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<![CDATA[Maples Fund Services Acquires Vistra Fund Services' Hong Kong and Singapore Offices]]> Maples Fund Services, a leading independent global fund services provider, is acquiring the Hong Kong and Singapore operations of Vistra Fund Services ("Vistra FS"). The acquisition further expands the presence of Maples Fund Services in Asia and enhances its position as a market leader in fund administration. Since its establishment in 2005, the growth of Maples Fund Services has been organic.This is the firm's first acquisition, which demonstrates its long-term commitment to fund administration. The strategy of organic growth combined with future strategic acquisitions is expected to continue to further evolve Maples Fund Services, which currently has US$ 47.5 billion in assets under administration, as a leader in the fund services space. 

The Maples Fund Services team in Asia presents a unique and compelling proposition to investment managers and investors who want experience and independence along with superior solutions, technology and client servicing from their administrator. Vistra FS' Asian fund services business is complimentary to Maples Fund Services existing Asia business. The focus of Maples Fund Services is alternative fund managers in Hong Kong, Singapore, Japan and the Greater China region wishing to set up hedge or private equity funds to be serviced by an independent provider offering a tailored, personalised service. Since establishing its Hong Kong office in 2012 and its Singapore office in 2013, Vistra FS experienced significant growth despite facing heavy competition in a mature market. It built up a strong business in Asia with sizeable assets under administration and mandates.

"This acquisition further increases our growing market share in the region, and we continue to view Asia as a strong growth opportunity for our business both in the near-term and long-term," Scott Somerville, Chief Executive Officer of MaplesFS, said. "We identified Vistra FS as a strong addition to Maples Fund Services due to the many synergies between the two businesses, including similar focus on providing custom solutions, approach to client services and technology innovation, and independence with no conflicts."

Maples Fund Services will look to retain all of the Hong Kong and Singapore-based Vistra FS employees with the aim of fully integrating them into the existing Maples Fund Services Hong Kong and Singapore-based teams. The Vistra FS team, which includes both client servicing and business development disciplines, has significant experience across Asia, deep local market expertise and language skills aligned to the region. Subsequent to the acquisition, the senior management team from Vistra FS will maintain leadership roles, which when paired with the existing senior management team at Maples Fund Services, position the firm uniquely in the market.

Ivo Hemelraad, Global Head of Vistra Fund Services commented, "We believe Vistra FS will be an excellent fit with Maples Fund Services, who will be able to further accelerate its already impressive client intake across Asia. We are pleased that the client servicing and future of the staff is assured under Maples Fund Services." 

Maples Fund Services' Asia business has experienced rapid organic growth that is largely attributable to increasing brand recognition among new manager launches and the delivery of enhanced reporting capabilities through its innovative portfolio and risk aggregation dashboards. The Hong Kong office, which has been a leader in the region since 2006, and the Singapore office, which opened in September 2013, provide a significant footprint and brand in the region from which Maples Fund Services can meet the unique needs of its Asian client base.

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<![CDATA[MaplesFS Clients Continue to Support The Pines with Generous Donation]]> The MaplesFS Community Service Committee on behalf of MaplesFS clients recently donated more than US$450,000 to The Pines Retirement 九游娱乐电玩城home in aid of ongoing enhancements to the organisation's new residential facility, which officially opened in March this year. "MaplesFS and its clients' generous donation will enable us to purchase enhancements for our new facility, such as hoists for residents, pressure mattresses and pumps to make our residents more comfortable, as well as an up to date CCTV system to enhance safety and security and a whole host of maintenance and upgrade items that we could not otherwise afford and will help reduce our indebtedness," said Lynda Mitchell, manager of The Pines.

The Pines is a non-profit charitable organisation that provides full-time residential accommodation and nursing care to Cayman's senior citizens. After nine years of extensive renovations, the new facility is now 九游娱乐电玩城home to 50 permanent residents, as well as numerous day care clients. Extensions to the original building, which was badly damaged during Hurricane Ivan, mean that there is now room to care for a greater number of elderly residents. Furthermore, upgrades to existing equipment, as well as the addition of new advanced equipment, will allow the 九游娱乐电玩城home's dedicated staff and volunteers to continue to provide quality and loving care to its elderly residents. In addition to around-the-clock residential care, the much cherished, 31 year-old institution offers a number of other worthy programmes, including day care, respite care and assisted living support.

The funds mark MaplesFS' second substantial donation to the organisation over the past year. In November 2013, the retirement 九游娱乐电玩城home received an early Christmas gift in the form of a US$190,323.53 donation from the financial services provider and its clients. MaplesFS CEO Scott Somerville said, "The Maples group has been a long-time supporter of The Pines and we are pleased that many of our clients have chosen to also support the 九游娱乐电玩城home, whose hard work and quality care play an essential role in our community."

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<![CDATA[MaplesFS Named Institutional Investor Tech 50 Firm Three Years in a Row]]> Tyler Kim, have been named to Institutional Investor's 2014 Tech 50 list. This is the third consecutive year that MaplesFS has earned a spot on the prestigious list, which highlights firms and individuals who lead the financial services industry in technology achievement and innovation. 

Institutional Investor recognised MaplesFS for its "broadening business portfolio that requires the flexibility, control and reliability of in-house technology." Examples of recent advancements include the insourcing of technology elements previously provided by external vendors such as infrastructure hosting for core Maples Fund Services systems and the acquisition of source code for the core system of Maples Fiduciary. 

Commitment to technology-enabled services has led to growth in new and existing clients, including the recently onboarded US$1 billion Texas Tech University System endowment.  Specifically noted were MaplesFS' proprietary consolidated risk and transparency reporting capabilities and fund compliance support to help clients address new regulatory reporting requirements in Europe and the US. 

"As a firm we remain focused on the infusion of technology into our core product offering," Kim said. "Clients recognise the importance that technology plays in managing information effectively. Their needs drive our technology strategy, which over the years has evolved considerably. By challenging ourselves to adapt to new market needs year after year, we will continue to be able to add unique value to our clients and the industry."

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<![CDATA[MaplesFS Clients Show Support for Cayman HospiceCare]]> The MaplesFS Community Service Committee on behalf of MaplesFS clients recently donated CI$33,101.38 to Cayman HospiceCare in aid of the not-for-profit organisation's ongoing operational costs and educational outreach efforts.

Cayman HospiceCare provides dignified, quality comfort care, free of charge, to everyone living in the Cayman Islands with cancer or other end-stage diseases. A highly-valued resource within the local community, Cayman HospiceCare is committed to enhancing the lives of those affected by death, as well as assuring the long-term emotional, spiritual and overall well-being of survivors after loss. Funds will support the Hospice's comprehensive programme of care provided, at no charge, to Cayman Islands residents. Every month, Cayman HospiceCare nurses carry out more than 125 visits to 九游娱乐电玩城home and hospital patients, while caregivers make an additional 90 visits per month. In addition to medical, emotional, spiritual and social care for patients and loved ones, the Hospice provides a host of additional support services, including a weekly grief recovery group, a lunch club for ambulatory patients and the organisation's annual Light Up A Life community memorial. Funds will also allow the Hospice to continue its efforts to raise awareness of its services and care models amongst the community, medical practitioners and multidisciplinary colleagues.

"We are passionate about the cause and we will continue to do all that we can to ensure that Cayman HospiceCare remains a vibrant and viable organisation for the long-term," said Cayman HospiceCare Chairman Christopher Duggan. "Through organisations such as MaplesFS this is remaining possible and I would like to thank MaplesFS and its clients very much for their very generous donation, which will enable our nurses to help those in the community that need it." "We are honoured to be able to link the much needed financial resources provided by our clients to the local community," said MaplesFS CEO Scott Somerville. "The support that Cayman HospiceCare provides for the grieving is an essential and much valued service to our country and we are hopeful that this donation will assist with the long-standing success of the organisation." Currently, local philanthropist Derek Haines is undertaking six marathons around the world over the course of eight months with the aim of raising CI$1 million to build Cayman HospiceCare a purpose-built inpatient and operations facility. The much-needed new residence will release the organisation from some CI$6,000 per month spent on rent.

To learn more and support the "Six4Hospice" challenge, visit the Six4Hospice website.

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<![CDATA[MaplesFS Helps Cayman Heart Fund Reduce Cardiovascular Disease Locally]]> Cayman Heart Fund to support the organisations' fundraising efforts towards a new cardiac probe for the George Town Hospital children's ward. "For this year's Discovery Day 5K walk/run, we set out in the hope of raising CI$29,000 to fund the purchase of an ultrasound probe for the hospital and also to fund one of the National Council of Voluntary Organisations' ("NCVO") essential programmes that, on a daily basis, feeds nutritious and healthy meals to the 84 children and infants who attend Miss Nadine's Pre-School and the Jack and Jill Nursery," said Kevin Doyle, Vice Chairman of the Cayman Heart Fund. The new cardiac probe will be a much welcomed addition to the children's ward. Cardiac probes are used to carry out tests on infants before they undergo cardiac operations. Previously children had to be sent off-island for testing a costly, and often traumatic, experience.

The NCVO's children's meal programme ensures that children in need receive a daily lunch and snack. For many, this is the only 九游娱乐电玩城home-cooked and well-balanced meal the child receives every day. The walk/run, which took place on Monday 19 May, is a highlight on Grand Cayman's annual sporting calendar and 2014 marked the seventh successful year for the Cayman Heart Fund event. The always-popular run/walk saw a record number of runners and walkers take to the road, with over 400 participants turning out early on Discovery Day morning to support this year's worthy causes. "Our heartfelt thanks to MaplesFS for their most generous donation towards the Discovery Day run/walk and its supporting causes," said Doyle. "It's no exaggeration to say that without the support of MaplesFS and its clients, we wouldn't have been able to not only meet but exceed this year's goal."

Cardiovascular disease is one of the largest health problems in the Cayman Islands. The Cayman Heart Fund is a non-profit, non-government organisation dedicated to helping prevent and reduce the incidences of heart disease, the primary cause of death in the Cayman Islands and amongst women globally. The NCVO is a non-profit, charitable organisation dedicated to the care, education and well-being of children and families in need of support in the Cayman Islands. In addition the school meal programme, projects include a foster care 九游娱乐电玩城home, small welfare grants like pocket money for a few of The Pines Retirement 九游娱乐电玩城home residents who have no other source of income, and donations throughout the community to people who are experiencing severe problems due to personal hardship or tragedy. "When the opportunity arose, our decision to donate the total required funds to the Cayman Heart Fund was unanimous," said Scott Somerville, MaplesFS CEO. "Statistics provided by the organisation on the impact of heart-related diseases on our community are concerning. We hope that contributions such as this will aid the Cayman Heart Fund's efforts to reduce cardiovascular disease locally."

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<![CDATA[Maples advises on US$29.2 million placing and Specialist Fund Market listing]]> Maples and Calder has advised Africa Opportunity Fund Limited (AOF) on the Cayman Islands legal aspects of its move from AIM to the Specialist Fund Market of the London Stock Exchange and US$29.2 million fundraising by way of a placing of C Shares. 

AOF invests in value, arbitrage and special situations opportunities derived from the continent of Africa.  Corporate partner Jack Marriott led the Maples and Calder team based in London.

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<![CDATA[Maples and Calder in Calcutta Run 2014]]> On Saturday 17 May, 64 registered Maples and Calder runners will complete the Calcutta Run in an effort to assist the annual event in meeting its 2014 fundraising goal of $200,000.

The Calcutta Run is a 10km or 5km run/walk through the Phoenix Park and was established in 1999 by the legal profession in Ireland. The event was launched in an effort to get the sector actively involved in supporting two worthwhile charities- GOAL and the Peter McVerry Trust. GOAL is an organisation in India that assists children on the streets of Calcutta, providing them with food, care and education. In Ireland, the Peter McVerry Trust offers hostels, care and assistance for 九游娱乐电玩城homeless young adults.

Both of these charities rely on funds raised through the annual event in order to run their programmes, with the Calcutta Run raising nearly $3m over the last 15 years. Participation has doubled over the last decade, increasing from 500 runners in 1999 to more than 1,000 to date, all of whom continue to make the run a success, alongside its loyal supporters. All runners are encouraged to achieve an individual fundraising target of $100 through pledges and donations, with 100% of the funds raised going to GOAL and the Peter McVerry Trust. Andrew Doyle, Managing Partner in the Maples and Calder Dublin office said, "We are delighted to support such a worthwhile cause and I am particularly pleased to see such strong participation from the Dublin office this year. "Supporting the local community has always been part of the culture of the firm and it is great to see that the Calcutta Run has been such a success."

For more information on the event and how you can make a donation, please visit : ]]>/en/News/Announcements/2014/05/Maples-and-Calder-in-Calcutta-Run-2014/en/News/Announcements/2014/05/Maples-and-Calder-in-Calcutta-Run-2014<![CDATA[MaplesFS Helps Local Students to Get Active]]> MaplesFS is delighted to once again lend its support to the Cayman Heart Fund and Children's Health Task Force's Get Active Challenge, an annual twelve-week fitness programme aimed at local high school students. MaplesFS recently donated CI$1,000 towards the programme, which started Sunday 4 May and runs through August.

Every year, the Get Active Challenge supports a select group of teenagers who struggle with weight control, helping them to become more health-aware through nutritional education and healthier through regular exercise. The challenge provides one-on-one nutritional consultations, as well as a number of training sessions every week, ranging from cooking demonstrations and supermarket shopping to heart-healthy activities such as Beach Bootcamp and paddle boarding.

Childhood obesity has become ever-increasingly prominent in the Cayman Islands over recent years. "We hope that at the end of the challenge each participant will be armed with the knowledge to make healthier food choices and the motivation to continue exercising on a regular basis and that they positively influence their family and friends," said Get Active Challenge founder, and Paediatrician at TrinCay Medical Centre & Urgent Care, Dr Christine Chen. "I'd like to thank MaplesFS once again for their generous donation towards the challenge, and their continuous support of a more active and healthy Cayman." "Initiatives like the Get Active Challenge are key to inspiring Cayman's next generations to cultivate healthy habits from an early age which will help prevent health problems in the future," said MaplesFS CEO, Scott Somerville, "We are pleased to be able to support the challenge through another successful year, and to aid the Cayman Heart Fund and Children's Health Task Force's overall efforts to bring awareness of the issue to the forefront in the local community."

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<![CDATA[Maples Fund Services Expands MaplesFS Connect Reporting Suite]]> Maples Fund Services announces the latest developments of MaplesFS Connect, its leading portfolio accounting and reporting solution for investment managers. The secure online portal allows managers access to a full suite of reporting tools including: performance, risk, market data, accounting, cash and capital activity.

MaplesFS Connect is part of Maples Fund Services' standard fund administration offering and the latest edition is now available to funds of all asset classes and size. Designed with hedge fund and asset managers in mind, MaplesFS Connect's intuitive user interface delivers up-to-date portfolio information for easy monitoring of performance and capital activity. Leveraging Maples Fund Services’ leading infrastructure and award-winning technology, MaplesFS Connect now includes:

  • NAV reporting: access to a complete library of current and historic NAV reports for ease-of-use and efficient record keeping;

  • Portfolio analytics: monitoring and management of investor portfolios through timely accurate data including exposure, cash, position and compliance reporting;
  • Performance reporting: views of performance at multiple levels of abstraction across time horizons in comparison to pre-defined or custom benchmarks;

  • Investor insight: dynamic reporting to monitor status of capital activity and investor transactions; and

  • Cash reporting: access to balances and transactions on your bank accounts.

“We want our clients to be able to easily access the key information that drives results,” Toni Pinkerton, Global Head of Fund Services, said. “MaplesFS Connect delivers an efficient, cost-effective solution that ensures our clients have better control over their data and, ultimately, their investment decisions through clear, concise reports for both managers and their investors."

“Large investment managers and institutional investors appreciate Maples Fund Services for our ability to deliver excellent customised reporting solutions,” Tyler Kim, Chief Information Officer, said. “The latest iteration of MaplesFS Connect benefits all our fund administration clients, providing a dynamic and scalable operational framework to support their investment operations."

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<![CDATA[Maples and AIMA Publish New AIFMD Implementation Guide]]> AIMA"), has published a new set of practical guides for hedge fund managers wishing to comply with the Alternative Investment Fund Managers Directive ("AIFMD").  

The Irish guide, which was produced jointly by AIMA and the Dublin office of international law firm, Maples and Calder, builds on the generic AIFMD implementation guide that AIMA published in January 2013. It is intended to help managers understand how the AIFMD as implemented in Ireland will impact their business and sets out some of the strategic and operational choices that they face in order to respond to and comply with the AIFMD as transposed into national law in those countries.

Maples and Calder Partner, Peter Stapleton said, “We have been tracking the development of the AIFMD and advising our clients and their international counsel on the impact of the AIFMD across their Irish, Cayman Islands and BVI structures since the first draft texts were published almost five years ago. During that time we have seen particular interest in the co-domiciliation of international fund structures and the increasing use of Irish vehicles for management and marketing in the EEA. We are therefore delighted to partner with AIMA in producing the Irish guide. As we enter the key implementation phase for the AIFMD, with the first transitional periods expiring, the Irish guide will be an extremely valuable tool for all market participants, providing a clear and accessible overview of strategic options in Ireland and a wide range of possibilities to deal with the AIFMD.”

If you would like further information on the Ireland Guide please contact Peter Stapleton, any one of our global AIFMD experts noted above or your usual Maples and Calder contact.]]>
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<![CDATA[Maples and Calder Announces Partner Relocations]]>
Shaun Denton, previously the Managing Partner of the firm's London office, has relocated to Asia to head up the Hong Kong office.  He joined Maples and Calder in 1995 and has extensive experience in all types of capital markets and structured finance transactions, including securitisations, repackagings and derivatives.  

Maples and Calder's Hong Kong office has experienced substantial growth and success since opening in 1995.  The office principally practises the laws of the Cayman Islands and the British Virgin Islands and focuses on corporate and financial legal services. 

In addition, the firm's London office will benefit from the collective expertise of partners, Nick Evans and Heidi de Vries, who recently relocated from its Cayman Islands office.  Heidi specialises in the structuring, formation and ongoing maintenance of investment funds, including hedge funds and private equity funds.  Her experience includes the establishment of Cayman Islands and British Virgin Islands companies and partnerships and advising on a broad range of corporate and commercial matters. 

Nick advises on the formation and maintenance of all types of investment funds, including hedge funds and private equity funds.  Nick also has experience of a very wide range of corporate transactions, with particular expertise in M&A transactions, together with restructurings, joint venture arrangements, financing transactions and structured finance deals.

London office Managing Partner, Paul Govier, commented, "Nick and Heidi's knowledge and expertise will serve to strengthen our presence in London, furthering our commitment to delivering the high levels of service expected by our clients." 

Maples and Calder's London office provides Cayman Islands and British Virgin Islands legal advice, specialising in the investment funds, finance, company commercial and trusts practice areas.  London serves as a key base for the firm, enabling clients to seamlessly access the Maples group's global network from a European time zone.  

"These strategic transfers align with Maples and Calder's commitment to these regions, enabling us to continue to meet our clients' needs on a global level," said Global Managing Partner, Henry Smith.]]>
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<![CDATA[Maples Fund Services Recognised for Technology and Regulatory Solutions]]> Maples Fund Services has been honoured with two industry awards, highlighting its continued platinum approach to servicing the hedge fund market with innovative and advanced solutions.
Maples Fund Services was named Best European Fund Administrator - under $30 billion single manager by HFM Week. Maples Fund Services was also named Best Hedge Fund Administrator - Excellence in Technology and Regulatory Solutions by The Hedge Fund Journal.
The award recognises Maples Fund Services’ proprietary reporting dashboard, MaplesFS Connect, which provides clients with a fully-integrated solution for online risk reporting. Hedge fund managers can use the dashboard to obtain insights into their portfolio, enhance their investor reporting, and demonstrate proper risk monitoring.
Additionally, Maples Fund Services has spent the last year developing a comprehensive regulatory and compliance solution that addresses key regulations, including AIFMD, Form PF, CPO-PQR, and OPERA. The offering provides an interactive solution for clients to streamline their regulatory reporting workflow from the capture of data and key assumptions through risk computations, review, approval, and straight-through reporting to the relevant ities.
Maples Fund Services’ strong performance has been consistently recognised by the industry. Last year the firm was named Most Innovative European Fund Administrator - under $30 billion by HFMWeek, Leading Hedge Fund Administrator - Technology by The Hedge Fund Journal, and Best European Hedge Fund Administrator by HedgeWeek.

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<![CDATA[MaplesFS Client Donations Further the National Trust Education Programme]]>
The National Trust is a non-profit, statutory body with a mission to preserve natural environments and places of historic significance in the Cayman Islands for present and future generations.

"We are delighted that clients of MaplesFS have chosen to make these extremely generous donations to the National Trust. At a time when our environment and historic sites are under increased pressure, these funds will go a long way toward our efforts to preserve them for future generations," said National Trust Executive Director, Christina Pineda. “We plan to apply the donation to our 2014 Education Programme, which teaches thousands of students each year the importance of protecting our natural biodiversity and preserving our rich history and culture.”

The National Trust’s educational programmes cover historic, environmental and educational aspects of Cayman culture. School outreach efforts open a world of knowledge and discovery to Cayman’s future generations, including ever-increasingly topical subjects affecting our Islands such as recycling, sustainable living and climate change.

The National Trust is also working to establish a system of protected areas across all three Islands to ensure the survival of Cayman’s native plants and species alongside initiatives like the Blue Iguana Recovery Programme.

"MaplesFS is pleased to support the National Trust in their efforts to educate the community on valuable aspects of Cayman’s culture and environment," said Scott Somerville,Chief Executive Officer at MaplesFS. "We hope that this and future donations will assist them in keeping these programmes alive and continue to raise awareness of the importance of such initiatives." ]]>
/en/News/Announcements/2014/04/MaplesFS-Client-Donations-Further-the-National-Trust-Education-Programme/en/News/Announcements/2014/04/MaplesFS-Client-Donations-Further-the-National-Trust-Education-Programme
<![CDATA[Maples advises Investec Bank Plc on sale of its business to Salamanca Group]]> /en/News/Deals-and-Client-Wins/2014/04/Maples-advises-Investec-Bank-Plc-on-sale-of-its-business-to-Salamanca-Group/en/News/Deals-and-Client-Wins/2014/04/Maples-advises-Investec-Bank-Plc-on-sale-of-its-business-to-Salamanca-Group<![CDATA[MaplesFS Lends a Helping Hand to East End Community After School Programme]]>
The programme aims to complement the school’s educational efforts to develop active, well-rounded and confident young adults in the East End district. Activities range from popular after school activities such as music, dance and karate to building key skills through physical education, maths, reading and writing.

“The success of the After School Programme is reflected in the positive development of our children over the past three years,” said East End Primary School President, Darrel Rankine. “I would like to thank MaplesFS for continuing their partnership with the PTA and sponsorship of this programme, which continues to make an academic and social difference in the lives of our students.”

“MaplesFS is grateful for the opportunity to sponsor local children’s activities, particularly those that promote education, health and wellness to those that need it most,” said Scott Somerville, Chief Executive Officer at MaplesFS. “There is nothing more important than supporting the development of our youth, and initiatives run my voluntary organisations like the PTA provide an essential resource and much needed support to Cayman’s future generations.”]]>
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<![CDATA[FATCA Announcement on IGAs and Registration Deadlines]]> Announcement"), which essentially clarifies two important aspects of the implementation of FATCA.  The Announcement can be viewed here. 

Firstly, jurisdictions listed on the IRS/Treasury websites as having an inter-governmental agreement ("IGA") in effect will also now include jurisdictions that have reached agreement with the US on the substantive terms of an IGA, before 1 July 2014, and have consented to be included on the Treasury and IRS list, even though the IGA has yet to be signed. 

The affected jurisdictions can be viewed here, which includes the British Virgin Islands ("BVI") and Brazil. 

This is of significance to those Financial Institutions domiciled in such listed jurisdictions as they will be permitted to register on the FATCA registration website, and certify their status to a withholding agent, as if they were domiciled in a jurisdiction with a signed IGA.  Reporting Financial Institutions in Model 1 IGA jurisdictions will also be able to take advantage of the effective extended deadline for GIIN registration until 31 Dec 2014 (see further below). 

It is also of relevance to those Financial Institutions that are part of wider international groups, who may be impacted by the Expanded Affiliated Group provisions under the US FATCA Regulations, or the Related Entity provisions under an IGA, as such entities will now be granted the status of deemed compliance, which would be advantageous to status of the wider group. 

Treasury expects to add jurisdictions as they consent to inclusion on the list and additional agreements in substance are reached.  Jurisdictions that reach agreements in substance on or after 1 July 2014 will not be included in the list of jurisdictions that are treated as having an IGA in effect until the IGA is signed. 

Secondly, the Treasury/IRS have split the former issuance date of the Global Intermediary Identification Number ("GIIN") list and extended the deadline by which registrations must be made, in order to be on the GIIN list as of 1 July 2014. 

The IRS will be publishing the first GIIN list on 2 June 2014, for which the deadline of registration is 5 May 2014.  The IRS will be publishing a second GIIN list on 1 July 2014, for which the deadline of registration is 3 June 2014.  In essence, this means the original date of registration by 25 April for inclusion on the 1 July GIIN list has been extended by an additional 39 days. 

The Announcement reminds withholding agents that they will have an additional 90 days to verify that the GIIN of a payee appears on the GIIN list, before they will be treated as having reason to know that the Chapter 4 status of the payee is unreliable or incorrect. 

Perhaps more noteworthy is the serious reinforcement made by the IRS in the Announcement in relation to the fact that a withholding agent does not need to obtain a GIIN from a Reporting FI in a Model 1 IGA jurisdiction (which now includes Ireland, the Cayman Islands and the BVI) for payments made before 1 January 2015.  See US FATCA Regulations § 1.1471-3(d)(4)(iv)(A).  This rule is highlighted three times in the Announcement. ]]>
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<![CDATA[Maples and Calder Announces New Partners]]> International law firm, Maples and Calder, has announced the appointment of 12 new partners across its global offices.  The new partners in the Cayman Islands office include Daniel Beckett, Jeremy Bomford, Michael Johns, Jonathon Meloy and Justin Pennay.  James Gaden, Richard Grasby and Terence Ho were appointed to partner in the Hong Kong office.  In the firm's Dublin office, Elizabeth Bradley and John Breslin were elected, and Matthew Gilbert and Tom Katsaros were appointed in the London and Singapore offices, respectively. 

Global Managing Partner, Henry Smith commented, "Each year, we look forward to the chance to recognise the hard work of our lawyers and reward them for their dedication to the firm and exemplification of talents, upon which the firm relies for our continued success.  It is with great pleasure that we announce the elections of these individuals to the partnership and are confident that they will each embrace their new responsibilities with the same level of commitment and excellence."

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<![CDATA[Maples Fund Services Selected as Administrator for the Omni Secured Lending Fund]]> Omni Partners LLP, a UK-based alternatives specialist investment manager, has selected Maples Fund Services as administrator for its new Omni Secured Lending Fund I LP. The new fund will allow institutional investors to directly access the short-term secured property lending market within the UK.

Maples Fund Services will provide full administration services, including fund accounting and registrar transfer agent services. Maples Fund Services was awarded the business due to its strong expertise and experience in working with credit funds, as well as its customisable approach and sophisticated infrastructure to manage such structures.

“Maples Fund Services presented a cutting edge approach to servicing a hybrid structure like ours, and the team demonstrated considerable expertise in the administration of private debt funds,” Graham Rodford, Chief Operating Officer of Omni Partners, said. “The firm’s long-term view of client relationships as well as its close connection with Maples and Calder were key considerations in our decision to partner.”

Omni Partners was founded in 2004 by trading veteran Steve Clark. It currently manages two other funds in addition to the new Omni Secured Lending Fund I LP, which launched on 3 February.

“Our new relationship with Omni Partners is a testament to our ability to deliver the experience, technology and processes to service complex credit structures,” Stephen Lewis, Director European Business Development at Maples Fund Services, said. “We look forward to working with Omni Partners as the fund grows.”

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<![CDATA[Maples Fiduciary Expands Delaware Team]]>
Ed has more than 26 years experience in US fiduciary services and has worked on and managed teams to deliver a diverse product set, including structured finance transactions, asset-backed securitizations, leveraged lease transactions, trust preferred securities, longevity products, banking products and a broad range of investment funds.

“We are delighted that Ed has joined us as he brings a wealth of local Delaware experience in fiduciary services and will be instrumental in growing our business there, both in the structured finance and investment funds space. His previous background with US blue chip institutional providers will really add value for our clients,” Guy Major, Global Head of Fiduciary Services, said.]]>
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<![CDATA[Maples Fund Services Expands Regulatory Reporting Service]]>
The new services will complement existing compliance and regulatory services including reporting for Form PF, CPO-PQR, and OPERA already provided to fund administration and middle office clients. These services leverage proprietary solutions for accounting, performance and risk reporting performance reporting provided to middle and back office clients. As part of the expansion, Maples Fund Services has engaged with ConceptONE to employ its technology in concert with Maples Fund Services’ technology framework to create a seamless interface for investment managers, their funds and regulators.

“The magnitude of new regulatory reporting requirements is fundamentally altering the global alternative funds industry. Our offering will help guide managers through the process and help alleviate many of the resource, cost and technology pressures associated with compliance” said Toni Pinkerton, Global Head of Fund Services. “Specifically for Annex IV reporting under AIFMD, this offering will help to ensure our clients who market within the EU are compliant.”

The regulatory reporting solution is configured to calculate and aggregate data to respond to key filings. It includes a web-based data management application that allows for the loading, reviewing, modifying, and approving of consolidated data. The application supports the review, approval and electronic submission of filings and also maintains a full audit trail.

“The platform allows our clients to produce an extensive range of reporting for various stakeholders from a singular platform and utilize a single data set ensuring efficiency and consistency. This is particularly crucial when filing reports to regulators across the globe” said Phillipa White, Chief Risk Officer. ]]>
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<![CDATA[Maples advises EBRD on IPO of Russian Hypermarket Chain Lenta]]> BVI") counsel to The European Bank for Reconstruction and Development ("EBRD") in relation to the recent IPO of Russian hypermarket chain Lenta on the main market of the London Stock Exchange and the Moscow Stock Exchange.  EBRD held a 21.5% stake prior to the offering, and sold a 4.8% stake.  TPG Capital and VTB Capital Private Equity also hold stakes.  Lenta is Russia's second largest hypermarket chain, and its IPO raised just under US$1 billion.  Partner Matthew Gilbert led the London-based BVI team.]]>/en/News/Deals-and-Client-Wins/2014/03/Maples-advises-EBRD-on-IPO-of-Russian-Hypermarket-Chain-Lenta/en/News/Deals-and-Client-Wins/2014/03/Maples-advises-EBRD-on-IPO-of-Russian-Hypermarket-Chain-Lenta<![CDATA[Chatterbox Takes to the Water with the Help of MaplesFS]]>
With this in mind, Chatterbox, a local therapy and education centre, took to the water to take advantage of Grand Cayman's beautiful Seven Mile Beach and host a family-friendly day of stand-up paddle boarding at Governor's Beach, generously sponsored by MaplesFS. "It was a great afternoon with about twenty families turning up to have fun and try out a new skill," said Roz Griffiths, Chatterbox Manager and Senior Speech and Language Therapist.

Autism is a developmental disorder that impacts social and communication skills. Recent observations into nature and ocean therapy have shown an increase in cognitive and social skills in autistic children as a result of spending time in these natural environments. "We proved that kids of all ages can enjoy this upcoming sport and leisure activity and that it helps children with special needs to improve their balance and coordination skills, whilst meeting new friends and having a huge amount of fun," explained Griffiths.

Stand-up paddle boarding is a fast-growing activity in Cayman, which people of all skill levels can enjoy. "Our youngest paddle boarder was just three years-old and one family had three generations in the water," added Griffiths. "A big thank you to MaplesFS for their support of our stand-up paddle boarding events. We look forward to partnering with them again in the future to help bring fun to those who need it most.”

MaplesFS actively supports a broad range of organisations and initiatives which benefit members of the community, including the youth and the elderly.

Chatterbox provides Speech and Language Therapy, Occupational Therapy, Pivotal Response Therapy, Clinical Psychology and Special Education, as well as training for parents and professionals, learning and language programmes and a PLIESE Art programme – all focused on enhancing communication, learning and language.

MaplesFS CEO Scott Somerville said, “Community events like Chatterbox's family fun days are key to the positive development of children with special needs living in the Cayman Islands. Chatterbox provides an invaluable resource and support network for both children and their parents and MaplesFS is honoured to support the organisation to continue their hard work for this worthy cause."
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<![CDATA[Maples Fund Services Receives Two MENA Awards]]>
Maples Fund Services is the only service provider with a dedicated team on the ground in the Middle East providing professional services to MENA’s largest and most established private equity and hedge fund managers. Over the past year, the firm has won several new sizeable mandates across various fund structures and strategies. Growth continues to be attributed to the firm’s exceptional client service standards, best of breed infrastructure and customised technology solutions.

“These two awards highlight our investment in the region and our commitment to providing our clients with innovative solutions and the highest level of client service,” Fred Tabbal, Regional Head of Fund Services Middle East, said. “We look forward to continued growth and expansion in the region as the service provider of choice.”

The Dubai office specialises in providing a range of custom fund solutions. It works closely with Maples Fiduciary and Maples and Calder to provide a comprehensive offering in the region. Earlier this year, Maples Fund Services made a significant commitment to the Dubai operation by considerably increasing its office space in the DIFC to support the current and future growth of the team required to service the expanding client base. ]]>
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<![CDATA[Three Firsts for Maples and Calder]]> The Irish office of leading international law firm, Maples and Calder, is pleased to announce that the firm has set the precedent on two ground-breaking deals in Ireland recently, enhancing its already stellar reputation as the firm of choice in the region after being independently ranked as the number one provider of legal services to Irish funds, in terms of total number of funds advised.

First Irish AIFM to manage AIFs cross-border in the EU

The law firm made history when it advised on the first Irish alternative investment fund manager ("AIFM") to be ised in Ireland, which will manage alternative investment funds ("AIFs") on a cross-border basis.

The AIFM, which is an affiliate of Muzinich & Co. Inc. ("Muzinich"), a global institutional asset manager specialising in corporate credit headquartered in New York with offices in several European cities. Muzinich currently manages over USD $26 billion worldwide.

The AIFM is the first to use the AIFMD cross-border management passport from Ireland allowing it to manage AIFs in both Ireland and Luxembourg. This is one of the key objectives of AIFMD and will allow Muzinich to centralise their AIF management operations in Ireland while retaining the flexibility to establish AIFs in other EU or non-EU jurisdictions to meet investor demand.

Muzinich will also benefit from the AIFMD marketing passport permitting it to access professional investors in important EU markets on a notification only. In addition, Muzinich availed of the permission under AIFMD to retain their UCITS licence and now have a single entity with permission to manage both major categories of EU funds from Ireland.

Peter Stapleton, Investment Funds Partner in Maples' Dublin office commented: "We are delighted to have advised Muzinich on their AIFMD isation. Their ambition to move into the new regime at an early stage and ise a single entity to manage both their UCITS and AIFs on a cross-border basis realised some of the core aims of AIFMD. Co-ordinating the AIFM isation and cross-border approvals for the first time in Ireland required strategic thinking and posed considerable challenges which the team was able to overcome. We are sure that Muzinich, their clients and fund investors will reap the rewards. We wish them every success".

David Goldenberg, General Counsel and Chief Compliance Officer at Muzinich said: "We take pride in being early to embrace new regulatory developments and, working with Maples and Calder, to have been the first to adapt the new European regulatory framework in a manner which we believe is best suited to enhance our business objectives".

The Muzinich team in Maples was led by Peter Stapleton and also included Michelle Lloyd and Hayley Purcell.

First Irish UCITS ised by the Central Bank to Invest 100% in China A Shares under RQFII Scheme

Maples and Calder's Dublin office also became the first to advise an Irish ised UCITS with full access to the Chinese equity market via a Renminbi Qualified Foreign Institutional Investor ("RQFII") licence.

Source CSOP Markets plc was ised by the Central Bank of Ireland on 16 December 2013. It operates as an exchange traded fund and has now listed on the London Stock Exchange. It avails of an RQFII licence held by its Hong Kong based investment manager for its exclusive use. Unlike the Qualified Foreign Institutional Investor ("QFII") regime, RQFII carries no initial lock-up or repatriation restrictions that would constrain liquidity, thus allowing investment by a UCITS up to 100% in China A shares listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange in the local currency. The RQFII regime was introduced, initially in pilot phase, on 16 December 2011. This represents the first occasion where it has been utilised by an Irish ised UCITS.

"Maples and Calder continues to set the bar on unique and ground-breaking deals on an international basis," commented Stephen Carty Investment Funds Partner in Maples and Calder's Dublin office. "This was a global team effort involving the UK based promoter, their Hong Kong based and RQFII licensed investment management partner, Hong Kong and China counsel and an Irish custodian/administrator. What really impressed was the collaborative efforts of all involved in bringing this innovative fund structure to launch so quickly." 

The Maples team was led by Stephen Carty ably supported by Deirdre Mcllvenna. 

First for Irish funds

In late 2013, Maples and Calder was ranked as the number one provider of legal services to Irish funds, in terms of total number of funds advised, by independent fund research company, Monterey Insight, recognising the firm as the outstanding market leader in the establishment of new Irish domiciled funds in Ireland.

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<![CDATA[Maples and Calder- Ranked 1 in Irish Funds]]> Monterey") has ranked Maples and Calder ("Maples") as the number one provider of legal services to Irish funds, in terms of total number of funds advised, as at June 2013.

Monterey is a leading independent fund industry research company that provides the only comprehensive and independent survey of service providers for all investment funds serviced in Ireland, Luxembourg, Jersey and Guernsey. The company's research covers around 25,000 investment funds within these jurisdictions.

Based on this research of the Irish market, Monterey ranked Maples first amongst its peers in terms of total number of funds advised on, as advisor to 1,171 funds, both Irish domiciled and non-domiciled. 

Maples was also recognised as the outstanding market leader in the establishment of new Irish domiciled funds in Ireland. Monterey statistics showed Maples having an impressive 51% share of new business within Irish domiciled funds, advising on more new funds than all of the other Irish law firms combined during the period under review.

Led by partner and Irish Head of Investment Funds, Barry McGrath, Maples has established itself as the fastest-growing Irish funds practice over the past five years, demonstrating considerable strength in depth and expertise and advising some of the largest fund managers and institutions doing business in Ireland.

Commenting on the results, McGrath said: "Recognition by industry stalwarts, such as Monterey Insight, is a testament to our dedicated team of specialised fund lawyers and our loyal client base. As a leading provider of legal services, we are delighted that our position within the Irish funds industry has been independently confirmed."  

Maples and Calder provides a full-service legal practice in Dublin and advises on all aspects of Irish investment funds, corporate, finance, litigation, insolvency and restructuring, tax, commercial property law and related specialist areas. 
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<![CDATA[HFA Selects Local Funds Leaders as Co-Directors of Cayman Islands Chapter]]>
Christina Bodden is a partner in the Investment Funds Group of leading international law firm, Maples and Calder.  She specialises in the structuring of private equity funds and advising on the related downstream transactions.  Christina also works extensively with major institutions and hedge fund managers and their onshore counsel, advising on the structuring and ongoing operation of all aspects of investment funds.  Additionally, she has a particular expertise in hedge fund sideletter arrangements and fund restructurings.  Christina joined the firm's Investment Funds group in 2004 and was elected as a partner in 2012.  She is a co-founder of the Cayman Islands location of 100 Women in Hedge Funds and serves both on their main local committee and their philanthropic sub-committee.

Speaking on her appointment, Christina said, "I am delighted to accept the role as co-director for the Cayman Islands chapter of the HFA.  This association has proven to be a valuable resource for the hedge funds industry and I am excited to partner with such a dynamic and forward thinking group of individuals.  I am honoured to add my voice to the HFA's mandate of advancing transparency, development and trust in alternative investments and I look forward to working with Colin to raise its profile in our region."

"We thank both Christina and Colin for stepping up to lead for the hedge fund industry in the Cayman Islands," said Ron Geffner, Vice President of the HFA.  "Their efforts will result in new opportunities and a stronger voice for HFA members in the Caribbean region and around the globe."

The Hedge Fund Association is an international not-for-profit organisation made up of hedge funds, funds of hedge funds, family offices, high-net-worth individuals, financial advisors, and service providers.  In the US, the HFA has chapters in the Northeast, Southeast, Midwest and on the West Coast.  Internationally, the HFA has chapters in Europe, Asia, Australia, Latin America and the Cayman Islands.  HFA works on behalf of the entire hedge fund industry, including more than 10,000 hedge funds in the US and abroad which collectively manage in excess of $2.4 trillion in assets, as well as sophisticated investors and industry service providers.]]>
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<![CDATA[MaplesFS Launches Full Service Office in Singapore]]>
Maples Fund Services (Singapore) Pte. Ltd. will focus on providing middle office, data aggregation and reporting, and fund administration services to Singapore domiciled funds established by family offices, private wealth managers and institutional investors. In addition, the team will service Cayman Islands funds that require on the ground support from Singapore. Eastern Fong, Regional Head of Fund Services - Asia, will head the Singapore team.

Maples Fiduciary (Singapore) Pte. Ltd. will be under the leadership of Hugh Thompson, Global Co-Head of Fiduciary, who has 14 years experience at the Maples group acting as a director on investment funds and structured finance vehicles. Hugh will be leading the development of Maples Fiduciary, which will include company formation, registered office, company secretarial, client accounting, voluntary liquidations, and directorship services for Singapore domiciled entities. In addition, the team in Singapore will provide director services for Cayman, Hong Kong and British Virgin Islands domiciled entities where an Asian time zone presence is needed. Clients will also have access to Maples eServices, which is a proprietary web-based portal that provides a single view to manage all global entity information.

MaplesFS Chief Executive Officer, Scott Somerville, said, "We are excited about the opportunity that Singapore creates as a jurisdiction, particularly as it relates to business arising from family offices, institutional investors, hedge funds and private equity. Our presence in Singapore will significantly boost our brand as a regional offering with close ties to our existing office in Hong Kong.”

Both Maples Fiduciary (Singapore) Pte. Ltd. and Maples Fund Services (Singapore) Pte. Ltd. are located in the same office building as affiliate law firm, Maples and Calder (Singapore) LLP, which recently celebrated the one year anniversary of its move to Singapore. Corporate and finance partner, James Burch, is Managing Partner of the firm's Singapore office. The Maples group's growth strategy in Asia is based on a long-term commitment to development in the region, with Maples’ first office opening in Hong Kong in 1994. The proximity of the MaplesFS and Maples and Calder teams, with a combined suite of services, comprising a wide range of fiduciary and legal expertise, ensures a synergistic team approach to the offerings in Singapore.]]>
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<![CDATA[Maples Advises Avolon on US$636m Aircraft Securitisation]]> Maples"), are pleased to announce that the firm has advised Avolon, the international aircraft leasing group, on a US$636 million asset backed securitisation issued by Emerald Aviation Finance Limited. The notes issued in the transaction were rated by S&P and Kroll. 

Nollaig Murphy, Partner and Head of the Finance group in Maples' Dublin office commented: "We are delighted to have advised Avolon since formation. It has been a number of years since a rated public aircraft securitisation successfully went to market, so this complex transaction represents a significant achievement for Avolon." 

This was Avolon's inaugural aircraft securitisation and was a complex multi-jurisdictional transaction involving the transfer of a portfolio of leased aircraft into a bespoke cost effective structure. Given this asset class, the need to maintain transactional flexibility throughout the closing process was paramount, with three types of aircraft interests being transferred across three continents. This was a challenging but rewarding transaction for Maples' aviation finance, leasing, capital markets and tax teams in Cayman and Ireland. 

Global Head of Maples and Calder's Finance group, Alasdair Robertson, added, "Aircraft finance and securitisation are two of Maples and Calder's core practice areas and this transaction has been a great opportunity to showcase our unique ability to provide Cayman and Irish legal services in one firm, and to do so seamlessly." 

The Maples Ireland team was led by Nollaig Murphy, with Laurence Hanley, David Burke, William Fogarty, Jane Bennett and Keelin Gavagan. The Maples Cayman team was led by Alasdair Robertson, along with Anthony Philp, James Reeve and Elaine Phung.]]>
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<![CDATA[International Growth for Maples and Calder's Trusts & Private Wealth Group]]> Maples and Calder announces two new lawyers in its global Trusts and Private Wealth group. Alex Way, formerly of Taylor Wessing in London, joins as an associate in the firm's London office.

Alex qualified in 2006 and has substantial experience advising on international trust and private client matters. Tony Pursall, partner and Head of Trusts and Private Wealth in Europe, said, "We are delighted to welcome Alex to the London office. We are confident that his background and the level of expertise that he brings with him will enable us to continue to be the leading provider of Cayman Islands and British Virgin Islands trusts and private wealth advice in England."

Charlie Sparrow, who previously worked in the London office of Maples and Calder from 2008 to 2011, joins as an associate in the Hong Kong office. Richard Grasby, Head of Trusts and Private Wealth in Asia, said, "We are delighted to welcome Charlie back to Maples and Calder. His previous experience with the firm and his recent experience in the Asian private wealth fiduciary market will be of tremendous benefit to our growing practice in Asia. Our ability to give Cayman Islands and British Virgin Islands trusts and private client advice from Asia sets us apart and Charlie's addition is evidence of the increasing demand in this region."

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<![CDATA[Maples Advises Edwards Group Limited on its Acquisition by Atlas Copco AB]]> Edwards") as to matters of Cayman Islands law on its acquisition by Sweden-based Atlas Copco AB. The transaction is valued at up to approximately $1.6 billion, including the assumption of debt, made up of an initial cash payment of $9.25 per share at the time of closing and an additional payment of up to $1.25 in cash, payable following finalisation of the group’s 2013 financials, with the amount depending on Edwards' 2013 revenue and achievement of certain adjusted EBITDA targets. The transaction is expected to close in the first quarter of 2014, and is subject to approval by Edwards’ shareholders, receipt of regulatory approvals and other customary closing conditions. Edwards' shareholders representing approximately 84% of the issued shares have entered into voting agreements with Atlas Copco in favour of the transaction.

The Edwards Group is a U.K.-based leading developer and manufacturer of sophisticated vacuum products, abatement systems and other related value-added services that are integral for the manufacturing processes for semiconductors, flat panel displays, LEDs and solar cells. The U.K.-based group has American Depositary Shares listed on Nasdaq. Atlas Copco is a provider of industrial productivity solutions, including the manufacture of compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems.

The Maples and Calder team is led by corporate partner Jack Marriott in London and includes associate Matthew Bloomfield.  Weil Gotshal & Manges acted as co-lead counsel with Davis Polk & Wardwell London LLP.]]>
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<![CDATA[Maples Fund Services Earns Top Ratings in Global Custodian Client Survey]]> Maples Fund Services has been recognised in Global Custodian’s 18th Annual Hedge Fund Administration Survey with top ratings in 11 categories. Scores and feedback from clients highlighted Maples Fund Services’ client services model, and customised and flexible solutions.

This year’s survey brought Maples Fund Services from an already "very high rating to something closer to excellence." Speaking to the firm's client service standards, a sizeable client in Asia describes the staff at Maples Fund Services as "knowledgeable and attentive to clients' requests." Another US manager said, "They look out for their clients as if they are an extension of the fund manager. They are truly part of our team and an invaluable resource for sub-$1-billion funds."

Additionally, Maples Fund Services was the only provider to receive ratings in the MENA region and Dubai servicing location, highlighting the firm’s reputation, exceptional client service standards, and best of breed infrastructure in the region.

Maples Fund Services received top ratings in the following 11 categories:

Less than $100 Million
$100 Million-$1 Billion 
$1-5 Billion 
Multi-Strategy 
MENA 
Dubai
North America
Multi-Provider
Canada
Cayman Islands
Hong Kong

Global Custodian’s Survey results are based on client responses and opinions on nearly 70 questions relating to the service provider and its work. Areas surveyed include client service, value, fund accounting and valuation, reporting to investors, reporting to fund managers, corporate administration, fund structuring, fund of funds administration, middle-office services, registered alternative products and technology.

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<![CDATA[New senior appointment to Maples and Calder's Tax Group]]> The Irish office of international law firm Maples and Calder ("Maples") is pleased to announce that David Burke has joined the Tax Group in Dublin as Of Counsel.

David is a highly experienced tax specialist and joins from Mason Hayes & Curran, where he was a partner since November 2011. Prior to that, David was a senior tax lawyer in London with international law firms Sidley Austin LLP and Cadwalader, Wickersham & Taft LLP.

Andrew Quinn, Head of Tax in Maples said, "We are delighted to welcome David to the team. We advise the world's leading companies, banks and investment firms on structuring investments in and through Ireland. We pride ourselves on our technical excellence and transactional capability. David's experience and knowledge will further enhance our market leading group".

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<![CDATA[Maples and Calder Recruits Industry Expert- Sherice Arman]]> Maples and Calder is pleased to announce the recruitment of Sherice Arman, who has joined the firm's Finance group as Counsel.

Ms. Arman, formerly a partner at Appleby, brings with her many years of finance related experience, particularly in ship and aircraft financing transactions and registrations. She will continue to focus on those areas as a member of Maples and Calder's leading asset finance team in the Cayman Islands.

"We are delighted to have Sherice join us," said partner and Global Head of Asset Finance, Mark Western, who is based in the firm's Hong Kong office. "She is well recognised within the industry as a leading shipping expert. Bringing her on board enables Maples and Calder to further extend our asset finance reach."

Added Richard Smith, Director-General, Civil Aviation ity of the Cayman Islands (CAACI), "Sherice is an outstanding lawyer. She has worked tirelessly with the CAACI in its efforts to market the jurisdiction and showcase our aviation finance expertise. We are delighted to hear of her return to the market after a brief absence and look forward to working with her again in our business development initiatives."

Maples and Calder recently co-sponsored CAACI's signature aviation tradeshow, EBACE, in Geneva and the firm's attorneys will be attending both the 2013 Monaco Yacht Show and the 2013 Fort Lauderdale International Boat Show as sponsor and participant of the Cayman Yacht Forum organised by the Cayman Islands Shipping Registry (CISR). Maples and Calder is also sponsoring and participating in CISR's Cayman Yacht Forum, to be held in London in November.

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<![CDATA[Cayman Announces Agreement of Model 1 IGA with the United States]]> IGA"), and has entered a new Tax Information Exchange Agreement ("TIEA") with the US government. This will greatly simplify FATCA compliance for Cayman Islands financial institutions, including for hedge funds, private equity funds, structured finance and aircraft finance vehicles, banks, trust companies and insurance vehicles.

Action Points

Discuss this development with your main FATCA advisor, as it may change the approach that is currently being considered for FATCA compliance by Cayman Islands financial institutions.

Detail


The Cayman Islands government has announced that a Model 1 non-reciprocal IGA, together with a new TIEA, have been agreed and initialled by the Cayman Islands government and the US government as of Tuesday, 13 August 2013. A copy of the announcement can be found here. 

The IGA and TIEA will need to be formally signed before coming into full effect. Although subject to Governmental timetables in the US and the Cayman Islands, we would hope that signing could occur in September or October this year.

Although copies of the IGA and TIEA are not yet available for publication, the announcement eliminates any remaining uncertainty for Cayman Islands financial institutions in relation to their treatment under FATCA as Model 1 IGA Financial Institutions ("FI").

In essence, signing the IGA means:

(a) The US Treasury will treat the Cayman Islands as having an IGA in effect. The Cayman Islands will, upon signing, be added to the US Treasury's list of jurisdictions that have signed but have not yet brought into force an IGA, and will accordingly be treated as having an IGA in place for FATCA purposes; 

(b) Compliance with FATCA for Cayman Islands FIs will be greatly simplified. For example, there will now be no need for each Cayman Islands FI to enter into an FFI Agreement directly with the IRS; and

(c) Cayman Islands FIs will have longer to obtain a global intermediary identification number ("GIIN"). Although a reporting Model 1 IGA FI, such as a Cayman Islands FI, will be able to register and obtain a GIIN from 1 January 2014, they will have additional time to do so compared to FIs in jurisdictions without a Model 1 IGA in place. For payments made prior to 1 January 2015, verification of a GIIN by a withholding agent is not required for a reporting Model 1 IGA FI. Accordingly, Cayman Islands FIs will have additional time beyond 1 July 2014 to register and obtain a GIIN in order to ensure that they are included on the IRS FFI list before 1 January 2015.

Henry Smith, Global Managing Partner at Maples and Calder, acknowledged the considerable efforts of the Cayman Islands government negotiating team in finalising the IGA and the Cayman Islands financial services associations in providing valuable input. 

He noted, "Having an IGA in place is critical for financial centres outside of the US. Financial institutions, investment funds and their investors using the Cayman Islands will now benefit from increased certainty in preparing for any potential registration or reporting obligations under FATCA. In agreeing to the IGA and a new TIEA, the Cayman Islands, once again, has demonstrated its willingness to work with the major economies to enhance the global financial framework."

As noted previously, once the terms of the IGA are published, we shall be issuing a more comprehensive legal guide on the main implications of FATCA affecting Cayman financial institutions.

For further information please speak with your usual Maples and Calder contact or one of the partners listed above.]]>
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<![CDATA[Maples Partner Appointed to Silk]]>
Mr McKie is a partner in the Litigation department at Maples and Calder. Only seven private-sector attorneys have been appointed to QC in the Cayman Islands (including Andrew Jones QC, the former head of the Litigation department, and now a judge). 

Conferment of silk is based on merit and primarily regarded as a measure of the regard in which one is held as an advocate. Candidates must be invited by the Court and approved by the Chief Justice. The Governor makes the appointments by warrant in the name of the Queen on the recommendation of the Chief Justice. The official admission ceremony is expected to take place later this year in open court, before Chief Justice Anthony Smellie and judges of the Grand Court, on a date to be announced.

Speaking on his appointment, Mr McKie said, "It is an honour and privilege to be appointed as Queen's Counsel and be counted among a distinguished class of attorneys in the Cayman Islands. I must acknowledge that this achievement was only possible through the support of the partners, associates and support staff in the Litigation team at Maples and Calder. Much hard work and team effort goes into our many cases behind the scenes, and I appreciate that my success has been built with their assistance throughout."

Mr McKie is a graduate of Corpus Christi College, Oxford. He was admitted as a solicitor in England in 1994 and as a Cayman Islands attorney-at-law in 1999. Mr McKie joined Maples and Calder in 1998 and was elected as a partner in 2007.

Mr McKie's extensive experience includes a range of international disputes including, corporate rescues, rehabilitations and restructurings, trusts disputes, and shareholder disputes. His notable expertise also includes fraud, asset tracing and recovery, professional negligence and intellectual property. Mr McKie regularly appears as advocate in the Grand Court, the Court of Appeal of the Cayman Islands and on appeal to the Privy Council. He has been a consulting editor of the Cayman Islands Law Reports since 2002 and a member of the Grand Court Rules Committee and of the Insolvency Rules Committee since 2010.

"We are delighted that one of our partners has once again been granted this prestigious honour," said Global Managing Partner, Henry Smith. "It truly speaks to the calibre of our people at Maples and Calder. Colin has played an integral part in the firm and our success, and we are very proud of him on this momentous milestone in his career."]]>
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<![CDATA[Maples and Calder Advises on First UK Export Finance Bond]]> LATAM Airlines Group ("LATAM") is the first airline to close a UK Export Finance backed bond. The Cayman Islands office of Maples and Calder advised LATAM in connection with the issuance; the proceeds of which were utilised to finance the acquisition of four Airbus A320 aircraft. 
 
"Maples and Calder is pleased to have been selected as Cayman counsel to act in connection with this innovative bond issuance by known market leaders," said Wanda Ebanks, Asset Finance partner in the firm's Cayman Islands office.
 
The financing involved the issue of a US$137.7m bond by Carpintero Finance Limited, a Cayman Islands company. The issuance was guaranteed by the UK's Export Credit Guarantee Department. Maples and Calder served as Cayman counsel to the Issuer whilst MaplesFS Limited provided administrative services to the Issuer.
 
"This deal further endorses the Maples group as the firm of choice for complex and unique finance transactions," added Mark Western, partner and Global Head of Asset Finance.
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<![CDATA[John Breslin joins Maples and Calder]]> The Irish office of international law firm Maples and Calder ("Maples") is pleased to announce that John Breslin will join the Finance Group in Dublin. John will also head up the firm's Advocacy Group.

John is the of the leading text on banking law in Ireland and is an acknowledged expert in financial services and regulatory law. John practised as a banking lawyer for many years in leading firms in Dublin and London, before becoming a Senior Counsel in 2011 having been called to the Irish Bar in 1996.

Nollaig Murphy, Head of the Finance Group in Maples' Dublin office, said, “We are very excited that John has chosen to join our team. His appointment evidences our continued serious intent in the Irish and international finance market, and demonstrates our commitment to offering the highest levels of service by constantly enhancing the Group's intellectual capital. John's acknowledged expertise and deep experience in banking and financial services matters will greatly enhance our offering."

Andrew Doyle, Managing Partner of Maples' Dublin office, noted, "John brings a wealth of experience in banking and financial services to the Finance and Advocacy Groups and we look forward to welcoming him to the team."

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<![CDATA[Maples Recognised in IFN Awards Law Poll 2013]]>
IFN cited Maples' reputation for 'innovation and integration', highlighting a number of high profile and groundbreaking deals the firm has been involved with since opening in Dubai in 2005. In particular, the securitization of Salik receivables in Dubai and the YAAS Sukuk transaction in Kuwait, which won IFN Sukuk deal of the year 2013, were singled out for praise.

Tahir Jawed, Managing Partner of Maples and Calder’s Dubai office, said, “We are delighted to have been recognised once again by the readers of Islamic Finance News. These accolades continue to reinforce Maples’ position as the leading firm for offshore finance in the Middle East.”

The winners of the IFN Awards Law Poll 2013 were voted for by the readers of Islamic Finance news in addition to a select group of expert in-house counsel and senior industry practitioners who were invited to participate. Participants in the poll included issuers, investors, non-legal financial intermediaries, regulators and other experts who have been directly involved in Islamic finance over the past year.
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<![CDATA[Maples and Calder named Offshore Firm of the Year at The Lawyer Awards 2013]]> London, 25 June 2013 | Maples and Calder once again affirmed its position as the leading offshore law firm, securing the prestigious award, "Offshore Firm of the Year", at The Lawyer Awards held in London on 25 June 2013.

The award, collected by London Managing Partner, Shaun Denton and BVI Managing Partner, Arabella di Iorio, recognised the firm’s achievements over the past 12 months. Maples and Calder faced competition from six other firms to win the award in a year that has seen a number of significant changes within the offshore market.

Speaking on the event itself, which was attended by more than 1,400 lawyers, Shaun Denton commented "It is an honour for the firm to be recognised by such a distinguished judging panel. The Lawyer Awards are very well respected and we were delighted that the achievements of our lawyers and staff over the last year have been recognised in this way."

Global Managing Partner, Henry Smith, acknowledging the win, stated "We are very flattered to accept this award, which is a testament to the firm's approach and illustrates our commitment to providing excellent service to our clients. The recognition serves as a validation of the dedicated ongoing team work of everyone at Maples and Calder."

The Lawyer Awards are a celebration of excellence in the profession across private practice, the public sector, commerce and industry, and the Bar. The winners are decided by a combination of research by The Lawyer and an independent panel comprised of senior advisors from both City institutions and the media.

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<![CDATA[Maples and Calder wins Whos Who Legal Private Funds Award]]> In its annual awards, Who’s Who Legal has selected Maples and Calder as Firm of the Year for Private Funds. 
 
This is the first time the firm has been selected for this honour. The awards are based on a number of factors, including general feedback received in the research process, past performance in the research and the overall aggregate number of weighted votes cast in their favour.  

Maples and Calder is represented by 15 lawyers from six different jurisdictions, demonstrating the strength of the firm’s practice in this field. Seven practitioners from the firm’s office in the Cayman Islands are included in this chapter, with Iain McMurdo, head of the global private equity group, garnering particular praise for his expertise in private equity fund formation and financing to financial institutions and investment managers. Jon Fowler, the global head of the investment funds group, is also singled out for his skills in this field. At the London office, the “simply brilliant” Paul Govier is considered a fund formation expert and in Ireland, Peter Stapleton and Barry McGrath come highly recommended. Individuals from the British Virgin Islands and Hong Kong are also featured, alongside Tahir Jawed in the United Arab Emirates. A full listing of Maples and Calder's recognised lawyers can be found here.
 
The winners are formally announced in The International Who’s Who of Business Lawyers 2013, a compendium edition of all the individual Who’s Who Legal publications, which is released in June and covers 32 practice areas and over 100 countries.

 

Who’s Who Legal lists only the leading lawyers in each field, based exclusively on the findings of an independent six-month research process that encompasses feedback from private practitioners, clients and other experts in the sector. It is impossible to buy entry into this publication; only lawyers who score most highly according to our independent international research criteria are listed.
Who’s Who Legal is official research partner of the International Bar Association and strategic research partner of the ABA Section of International Law. In 2012, Who’s Who Legal’s parent company, Law Business Research, was recognised for the second time by The Queen’s Awards for Enterprise in the area of international trade. These awards are the most prestigious a British company can receive. ]]>
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<![CDATA[Maples Fund Services Hires Regional Head of Americas]]> Maples Fund Services has hired Jason Brandt, Regional Head of Fund Services for the Americas, to lead the firm’s growing presence in the region. Jason has more than 18 years of experience in the financial services sector, focused primarily in hedge funds and private equity.

Jason’s efforts will focus on servicing the growing North American business through expansion of administration, middle-office and risk services to investment managers, institutional investors and family offices. He will have responsibility over mandates serviced from North America, overseeing client relationship and operations teams. Jason will be based in the firm’s Montreal office and will play a key leadership role in the management and development of the business across the Americas.

“Jason brings a solid combination of fund operations, management and business development experience,” Toni Pinkerton, Global Head of Fund Services, said. “I am confident that our clients and their investors will benefit from his leadership, particularly as the industry continues to adapt to ongoing regulatory change.”

Jason previously worked for Deutsche Bank Alternative Fund Services in London, where he was responsible for client relationships globally, as well as growing the EMEA and Asia business. Prior to Deutsche Bank, he served as Managing Director and Chief Operating Officer of Hedgeworks, which was acquired by Deutsche Bank in 2008. Jason’s early career included positions with Capital Guardian Trust Company, Ernst & Young and Coopers & Lybrand.

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<![CDATA[Maples Fund Services Expands Hong Kong Office]]> Maples Fund Services, a leading independent global fund services provider and a division of MaplesFS, has expanded its Hong Kong team with the hire of Kit Pau as Vice President. The addition to the Hong Kong team is driven by increased market share of new launches in private equity and hedge funds, conversions from other service providers, and organic growth from existing fund manager clients.

In his new role, Kit will assume operational responsibility for the fund accounting and investor services teams in Hong Kong and will complement the dedicated client service team structure. Maples Fund Services provides tailored and flexible solutions to both private equity and hedge fund managers throughout the region.

Eastern Fong, Regional Head of Fund Services for Asia, commented, “Kit brings a wealth of experience in private equity and hedge fund administration to our growing operations. His superior technological and professional expertise will help us continue to expand as a leading player in Asia.”

Kit previously worked at PricewaterhouseCoopers Hong Kong, where he was a founding member of the private equity and real estate fund industry specialised group. He has more than 14 years of experience providing advisory and assurance services, including internal controls, financial reporting, administration and compliance for various types of private equity, hedge funds, venture capital, REITs and privately held real estate funds. Kit received a Fellowship from the Association of Chartered Certified Accountants and is a member of the Hong Kong Institute of Certified Public Accountants.

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<![CDATA[Maples and Calder Responds to Trikona Advisers' Press Release]]>
Maples and Calder is a leading international law firm advising financial, institutional and business clients around the world and is the tenant at Ugland House.  The building has been the subject of unfair comment in press and political circles.  The nature of our firm’s activities was reviewed and confirmed by the US Government Accountability Office ("GAO") when they travelled to the Cayman Islands to prepare a report for Congress on the nature of US businesses registered at Ugland House. GAO then testified before Congress that: "The international law firm of Maples and Calder, with its associated businesses - Maples Corporate Services Limited and Maples Finance Limited - is the sole occupant of Ugland House.  Its business is to facilitate Cayman Islands-based international financial and commercial activity for a clientele of primarily international financial institutions, institutional investors, and corporations.  Similar to corporate service providers in the United States, Maples Corporate Services Limited provides registered-office services, using Ugland House as a registered address, to entities it establishes."

Cayman is a leading jurisdiction for the formation of international investment funds (including hedge funds and private equity funds) managed by major financial institutions and investment fund managers, global business joint ventures, and companies formed by multinational businesses.  Those vehicles often provide an opportunity for pooling global capital from institutional investors – including lenders, pension funds, charitable foundations and university endowments – around the world to support economic development worldwide.  Government agencies and development banks regularly invest in Cayman investment funds.  Many support businesses and finance infrastructure projects in developing countries in South America, the Middle East and Africa.

The Cayman Islands government has taken many proactive steps to enhance its cooperation with both US and international regulators to adopt "best practice" international standards and to strengthen its regulatory structure against money laundering, terrorism, crime and tax fraud.  As the GAO Report confirmed, the IRS, the DoJ, the Treasury and the SEC have all recognised that the Cayman Islands ities provide requested information under the appropriate statutory regime in a timely and co-operative manner, with the GAO noting in particular that "US officials said that cooperation with the Cayman Islands government has been good."
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<![CDATA[Maples Fiduciary Hires Industry Expert for In-house Operational Due Diligence]]>
The Group will be lead by Ramona Bowry, Senior Vice President, who recently joined Maples Fiduciary Services to launch the effort. Ramona has more than ten years experience in risk management and the provision of fiduciary services to investment funds. She will play a critical role in providing an objective evaluation of hedge fund operations supporting the Maples Fiduciary directors.

“Direct access to detailed information from a dedicated operational due diligence specialist will deepen the Maples Fiduciary director’s knowledge of each fund and its service providers, enhancing the director oversight function and complementing on-sight director visits,” Peter Huber, Global Co-Head of Fiduciary Services. “It will ensure that when board meetings are held they are as robust as possible. We expect best practice frameworks to emerge from these reviews which will in turn be communicated to the investment manager and services providers of each fund on which our directors serve.”]]>
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<![CDATA[Maples Fiduciary Services Expands Investment Funds Team]]> Following continued growth, Maples Fiduciary Services, a leading global fiduciary services provider, has expanded its Investment Funds Team in the Cayman Islands with the addition of Abali Hoilett as Senior Vice President and Fund Director.

Abali has extensive experience in providing director and trustee services to a wide array of investment fund structures and strategies. In his new position, Abali will serve as an independent director on a limited number of hedge funds and private equity funds. Maples Fiduciary Services’ Investment Funds Team has provided independent directors to investment funds since it was established in 2003. With the industry experiencing an increased focus on corporate governance, Maples Fiduciary has grown significantly over the past several years to address the demand for experienced independent directors. The Investment Funds Team now comprises 25 professional directors resident in the Cayman Islands, Delaware, Dublin, Dubai and Luxembourg, serving a broad range of investment fund structures.

“We are delighted to have Abali join our team. His experience, impressive academic achievements and independent perspective are the qualities we look for in our directors,” Peter Huber, Global Co-Head of Fiduciary Services, said.

Abali is a CFA Charterholder, CAIA designation holder and a FRM certified by the Global Association of Risk Professionals. He currently serves on the board of the CFA Society of the Cayman Islands and is a member of the Cayman Islands Directors Association (CIDA). Abali is also a Notary Public in and for the Cayman Islands.

]]>
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<![CDATA[Maples Fund Services Named Most Innovative Administrator]]>
Innovation and customisation are an integral part of Maples Fund Services’ value proposition. Experienced, client focused teams leverage proprietary and best-of-breed technology to deliver innovative solutions tailored to the individual needs of each of our clients.

“This award speaks to our team’s ability to offer innovative world class solutions to a growing list of blue chip clients in the Middle East and North Africa,” Fred Tabbal, Regional Head of Fund Services Middle East, said. “We are the only administrator on the ground in the Middle East providing comprehensive services through a team of qualified professionals to the region's largest private equity, real estate, credit and leasing, and hedge funds.”]]>
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<![CDATA[Maples and Calder Announces Addition to Finance Practice]]> Maples and Calder is pleased to announce the recruitment of Nicola Bashforth, who will be joining the Finance team as Counsel. Ms Bashforth, who is currently with Appleby, is expected to commence employment in April 2013 subject to immigration permits and her existing contractual arrangements.
 
"We are delighted to welcome Nicola to our market-leading Finance team, and particularly our CLO practice," said Mark Matthews, partner and head of the CLO team at Maples and Calder. "She is a highly regarded structured finance lawyer with eleven years post qualification experience and her CLO expertise will serve to reinforce our position as Cayman's premier service provider in this space."
 
Alasdair Robertson, Global Head of Finance, said "Nicola's addition to our CLO practice further strengthens our team and enables us to continue providing the high level of service our clients expect at a time of significant growth in this market. We are delighted that she has chosen to join us."
 
Members of the Maples and Calder Finance team will be attending the American Securitization Forum taking place in Las Vegas from 27-30 January.]]>
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<![CDATA[Maples Fund Services Offers Facilities Agent Services in Ireland]]> CIS"), including UCITS ised in another Member State which propose to market their units in Ireland. These services complement the administration services Maples Fund Services currently provides to a wide range of clients and structures.

The Facilities Agent Services provided by Maples Fund Services include:

• provision of facilities at our office, where the following (English language) documents  can be inspected and copies obtained, free of charge:

 - the instrument of incorporation of the CIS in its current form;

 - the current prospectus, including any addenda or amendments thereto of the CIS and where required, the key investor information document (“KIID”);

 - the most recently prepared and published annual and half-yearly reports of the CIS.

• unitholders' access to the documents necessary to arrange the redemption of the whole or part of their holdings of units and provide information in relation to how a redemption will be paid; and

• any other documents required to be made available in accordance with applicable laws and regulations of Ireland.

Our affiliate law firm, Maples and Calder, can provide professional and timely advice in relation to the regulatory rules and notifications required to be filed with the Central Bank of Ireland (“CBI”).

Maples Fund Services is an independent global fund services provider focused on enhancing your investment processes and forging a lasting relationship with you. Going beyond traditional fund administration services, we adapt every solution to meet your individual needs.

With offices in key locations around the world, our clients include global financial institutions and investment management firms. As a firm recognised internationally by managers and investors for our quality and professionalism, we are able to offer professional and comprehensive services tailored to client requirements.

For further information please contact:

Emma Conaty 
Maples and Calder
+353 1 6192708

Stephen Lewis
Maples Fund Services
+ 44 20 7466 1633]]>
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<![CDATA[Maples and Calders Iain McMurdo- Most Highly Regarded Individual in 2013]]>
The exclusive list, which was compiled using Who's Who Legal's analysis of client and peer feedback, was comprised of only 10 individuals from a number of jurisdictions around the world. Furthermore, Maples and Calder gained the highest number of named lawyers in the publication, with 15 investment funds practitioners ranked in total.

Iain McMurdo, who is also head of the Private Equity Group at Maples and Calder, said, "I am honoured to be included in such a prestigious list.  It is humbling to be recognised by your peers and clients alike and to be listed alongside lawyers of such a high calibre. Who's Who Legal is an extremely well-respected organisation and it is a testament to the firm's commitment to superior service that so many Maples and Calder lawyers were included."

The International Who's Who of Private Funds Lawyers selected 409 specialists across 43 countries for the 2013 edition. Nominees for recognition were selected based on independent survey work with both general counsel and private practice lawyers worldwide.]]>
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<![CDATA[Maples and Calder Named Most Highly Regarded Firm]]> Maples and Calder was named the 'Most Highly Regarded Firm' in the 2013 edition of 'The International Who's Who of Private Funds Lawyers'. The firm, described as an 'investment and hedge funds powerhouse' by Who's Who Legal, topped the table of recommended lawyers, receiving 15 inclusions in total.

The lawyers recommended in the publication are:

David Brooks

Heidi de Vries

Sheryl Dean

Jon Fowler

Paul Govier

Tahir Jawed

Richard May

Barry McGrath

Iain McMurdo

Spencer Privett

Gwyneth Rees

Henry Smith

Peter Stapleton

Kieran Walsh

Anthony Webster

The International Who's Who of Private Funds Lawyers selected 409 specialists across 43 countries for the 2013 edition. Nominees for recognition were selected based on independent survey work with both general counsel and private practice lawyers worldwide. 

]]>
/en/News/Deals-and-Client-Wins/2012/12/Maples-and-Calder-Named-Most-Highly-Regarded-Firm/en/News/Deals-and-Client-Wins/2012/12/Maples-and-Calder-Named-Most-Highly-Regarded-Firm
<![CDATA[Local Firms Promote 100 Women in Hedge Funds]]> 100WHF"). 

Founded in 2001, 100WHF membership now exceeds 10,000 professional women who, through volunteer efforts, make a difference in their industry and community with unique educational programming, professional leverage initiatives and philanthropy.  

Speaking on behalf of Maples and Calder, partner Nicola Stradling commented, "We are delighted to be a part of the initial stages of raising awareness for this incredible association. The strides taken in the 10 years of its existence are a testament to the power of organised professionals with a clear mandate and solid values. Membership will certainly enable women in Cayman to position themselves as mentors, influencers, innovators, pioneers and leaders, among other roles."

Organisers are finalising plans to launch 100WHF in the Cayman Islands in 2013, therefore the membership drive will be an opportunity for professional women around the island to sign up and learn more about the association, via its website, www.100womeninhedgefunds.org.

Deloitte partner, Odette Samson, noted, “It is very exciting to help bring another world class industry association to the Cayman Islands.  We look forward to the involvement of industry professionals in order to create a truly active association that will impact our industry and community, and play a further role in establishing Cayman as the leading offshore jurisdiction.”

100WHF was built on the precepts of three key pillars: education, leverage and philanthropy. With 15 locations globally, it has successfully provided more than 300 industry education sessions to over 29,000 people around the world and established the 100WHF Institute to provide members with unique educational opportunities and scholarships. 

Under its 'leverage' pillar, the association has created a number of ways in which members can effectively share and "leverage" experiences, wisdom, and insight with their industry peers, through peer advisory groups, job boards, professional networking interfaces and opportunities for junior members to learn from seasoned professionals. 

The association's philanthropic initiatives have raised close to $28 million (gross) for charities focused on women's and family health, education, and mentoring as well as greatly impacting the lives of approximately 371,000 people through fundraising efforts, which include annual galas and other events throughout the year.

While Maples and Calder partners, Nicola Stradling, Christina Bodden and Jo Cunningham; and Deloitte partners Odette Samson and Cindy Hislop have spearheaded the membership drive, long term plans will include the formation of a committee, made up of cross industry professionals who will carry forward the association's core mission: "To make a difference in both industry and community through its three pillars of unique educational programming, professional leverage initiatives, and philanthropy." ]]>
/en/News/Announcements/2012/11/Local-Firms-Promote-100-Women-in-Hedge-Funds/en/News/Announcements/2012/11/Local-Firms-Promote-100-Women-in-Hedge-Funds
<![CDATA[Maples recognised at the 2012 IFLR Middle East Awards]]> Dubai,  8 October 2012 | Maples and Calder once again affirmed its position as leading offshore law firm in the Middle East as it scooped 3 awards at the 2012 IFLR Middle East Awards.

Acting as Cayman Islands counsel on three award winning deals, Maples and Calder formed part of the teams which received awards for M&A Deal of the Year (Mannai acquisition of Damas International), Restructuring Deal of the Year (Nakheel Restructuring) as well as Structured Finance and Securitisation Deal of the Year (Standard Chartered’s structured trust certificate programme).

Tahir Jawed, Managing Partner of Maples and Calder’s Dubai office, said, “We are delighted to accept these prestigious awards. The awards and nominations received continue to reinforce Maples’ position as the leading offshore law firm in the region.

The Qatar-based Mannai acquisition of jewellery retailer Damas International was awarded M&A Deal of the Year. Other advising law firms were Afridi & Angell, Allen & Overy, Ashurst, Clifford Chance, Freshfields Bruckhaus Deringer, Herbert Smith and Simmons & Simmons.

The Nakheel Restructuring was named as Restructuring Deal of the Year. Maples and Calder acted as Cayman Islands counsel alongside Allen & Overy, Clifford Chance and Latham & Watkins to complete the $16bn deal for the Dubai-owned property developer.

Maples and Calder worked alongside Allen & Overy Standard Chartered’s structured trust certificate programme.

Maples and Calder advised on a total of 9 nominated deals over 6 categories, a further testament to its standing in the region as a top tier firm.]]>
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<![CDATA[Trinity Student wins Maples Student Business Lawyer of the Year Award]]> Maples Student Business Lawyer of the Year Competition presented by Judge Peter Kelly, following a hotly contested final in Dublin on 17 October last. The competition, which is in its second year, was hosted by international law firm Maples and Calder to identify students who excel in the skills and capabilities which are essential to success as a business lawyer.  

The final took the format of a Moot Court and John’s skills of persuasion were deemed by the panel of judges – Mr. Justice Peter Kelly, John Kennedy BL and Maples’ Head of Litigation, Dudley Solan - to have the edge on his highly impressive fellow finalists Clodagh Rochford (Trinity College), Thomas Timlin (Trinity College) and William McEvoy (University College Dublin), each of whom confidently argued their case.

In presenting the award, Mr. Justice Peter Kelly acknowledged the skills displayed by each of the finalists and as a consequence the difficult decision the judges faced in selecting a winner.  

Speaking at the final, managing partner of Maples’ Dublin office, Andrew Doyle, described the finalists as being “of rare quality”, adding “Our four finalists have beaten stiff competition to get this far. The competition runs during the course of our summer internship programme for which several hundred students were considered.  Clodagh, John, Thomas and William were selected from our final group of seven highly impressive interns by a team of Maples partners and mentors for their ability to apply the law to complex business situations.” 

The prize for the winner John Fitzsimons is a further internship in one of Maples’ overseas offices, in addition to a gold medal, commissioned for the occasion and a cash prize.  Last year’s winner, Raphael Clancy, has recently returned from a three week internship in Maples’ Hong Kong office and plans to join Maples as a trainee next September.]]>
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<![CDATA[Maples and Calder Advises Jindal on Merger]]> JSPL") on the merger of its subsidiary, Jindal BVI Limited ("JBVI") with Canadian and Botswana-listed coal company, CIC Energy Corp ("CIC"). JBVI is the surviving entity following the merger and the listings will not be maintained.

The transaction required Jindal BVI to make a cash payment of CDN$2 per share to the current CIC shareholders aggregating to approximately CDN$116m.

JSPL is one of India's major steel producers and it is also a leading electricity generator. CIC operates coal mines in south-east Botswana. The deal will give JSPL access to approximately 6 billion tons of high-quality thermal coal, as well as the opportunity to provide electricity to countries within the Southern African Development Community, which are largely power-deficient.

Partner Barry Mitchell led the transaction.]]>
/en/News/Deals-and-Client-Wins/2012/10/Maples-and-Calder-Advises-Jindal-on-Merger/en/News/Deals-and-Client-Wins/2012/10/Maples-and-Calder-Advises-Jindal-on-Merger
<![CDATA[Maples and Calder Partner Elected as President of Cayman Islands Law Society]]> The Cayman Islands Law Society held its officer elections at an EGM on 2 October 2012 to vote in the newest board members.

Maples and Calder partner, Alasdair Robertson, was elected President. He succeeds Charles Jennings, who has served in the post for a total of 10 years, from 2001-2006 and again from 2008-2012. A new slate of officials was installed, including Vice Presidents, Antonia Hardy, Kevin Butler and James Bagnall, who retains his previous role. Huw Moses OBE will take up the position of Secretary and Treasurer. "I am honoured to accept the role of President of the Law Society and I look forward to working closely with my fellow officials and indeed the membership as a whole to represent the legal profession to the best of my abilities," said Alasdair Robertson. "We are very focused on the core mission of the Society which is to make representations on matters of concern to the profession as well as contribute our legal expertise in matters which benefit the Cayman Islands and its community. We aim to constructively engage with all stakeholders to achieve this mission.

The Cayman Islands legal profession boasts a talented pool of individuals and it is important that we continue to utilise our people to the betterment of the Islands." Alasdair has been actively involved with the Law Society for six years, serving as Secretary and Treasurer under the presidency of both Charles Jennings and Charles Quin QC (now Justice Quin QC).

]]>
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<![CDATA[New Partners Join Maples and Calders Leading Funds Team]]> announcement of 29 March 2012, we are pleased to welcome six new Funds partners to our Cayman Islands office. Heidi de Vries, Julian Ashworth, Sheryl Dean, David Marshall, Philip Millward and Gwyneth Rees join associates Greg Barwick, Philip Dickinson, Patrick Head and Lucy Nicklas, who commenced employment in August. Tim Clipstone, a partner in our British Virgin Islands office, started in June.
 
"We are excited to welcome this latest round of hires to our team,-quot; said Jon Fowler, the firms Global Head of the Funds group. Their joining our firm underlines Maples and Calders position as the premier law firm in the Cayman Islands. Their collective expertise, combining technical knowledge, transactional experience and market insight, will reinforce Maples existing position as a leader in the funds industry."
 
Heidi, Julian, Sheryl, David, Philip and Gwyneth are all experts in the funds arena and each boast an impressive background involving the representation of large international financial institutions and independent investment managers across the spectrum. Collectively, they bring a deep bench of experience in advising on fund structuring, formation, ongoing compliance, governance, restructuring and winding-up.
 
For further information, please contact any of the partners listed above.
]]>
/en/News/Announcements/2012/10/New-Partners-Join-Maples-and-Calders-Leading-Funds-Team/en/News/Announcements/2012/10/New-Partners-Join-Maples-and-Calders-Leading-Funds-Team
<![CDATA[Maples Fund Services Introduces MaplesFS Connect Risk Dashboards]]> /en/News/Announcements/2012/10/Maples-Fund-Services-Introduces-MaplesFS-Connect-Risk-Dashboards/en/News/Announcements/2012/10/Maples-Fund-Services-Introduces-MaplesFS-Connect-Risk-Dashboards<![CDATA[Maples and Calder Global Managing Partner Appointed to AIMA Council]]> Maples and Calder is pleased to announce the appointment of its Global Managing Partner, Henry Smith, to the global Council of the Alternative Investment Management Association (AIMA) following a membership vote at the association's AGM in London on 20 September 2012. Mr. Smith will be one of two representatives for the Americas region on the Council.
 
Mr. Smith has extensive experience in all aspects of offshore transactions, focusing particularly on private equity funds, hedge funds and structured finance transactions. He has advised on the formation of hedge funds and private equity funds in the Cayman Islands for some of the world's largest and most recognised alternative investment fund managers.
 
"I am honoured to have been elected to represent the Americas region on the AIMA Council," said Mr. Smith. "The prevalence of the use of the Cayman Islands and the BVI as a domicile for both hedge funds and private equity funds means that significant numbers of industry participants in the Americas region are currently managing, administering or invested in Cayman Islands or BVI investment funds. 
 
"I think it is extremely important for all these stakeholders in Cayman Islands and BVI based funds that the AIMA Board has the benefit of input from an experienced member of the Cayman Islands funds industry. At Maples and Calder, we have spent many years forming alternative investment funds of all descriptions for clients across the Americas region and globally. We also have significant experience dealing with legislative changes, regulators and the industry press in Cayman, BVI and Ireland, as well as in the Americas region and in Europe. 
 
"Just as our firm benefits from a global network of offices, including our Irish expertise and access to our affiliate, MaplesFS, we feel that we are in the precise position to offer AIMA members a global perspective, as we see, first hand, issues affecting them in different jurisdictions and from different angles. This is particularly important, given the ever-changing regulatory environment."
 
Founded in 1990, AIMA is the global representative of the hedge fund industry. They represent all practitioners in the alternative investment management industry - including hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors.
]]>
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<![CDATA[Maples and Calder Announces Singapore Office]]>
The Singapore office is located in the Singapore Land Tower in Raffles Place and will be managed by funds partner, Nick Harrold who is joined by corporate finance partner, James Burch, and private equity and corporate lawyer, Tom Katsaros. Both Harrold and Burch will relocate from the firm's Hong Kong office, whilst Katsaros rejoins Maples and Calder, having previously worked in its Cayman Islands office. The Singapore office will be a full service, full execution office providing Cayman Islands and British Virgin Islands advice across the firm's core practice areas, including hedge and mutual funds, private equity, structured and asset finance, corporate law and trusts for high net worth individuals.

"We are delighted to announce this addition to our global presence and proud that Singapore is the second office we have opened in Asia, as part of our Asian growth strategy. Maples and Calder is truly an international law firm and we are keen to explore the opportunities that await us in this new jurisdiction," said Global Managing Partner, Henry Smith. "Our Hong Kong office has experienced substantial growth since opening in 1995. We anticipate a similar success story in Singapore, which is a hub for many international firms and financial institutions."

"This move affirms our long-term commitment to our South East Asia clients," noted Nick Harrold, "There are relatively few law firms practising Cayman Islands and British Virgin Islands law in Singapore and our new office will not only provide clients with greater choice but, through being on the ground in Singapore, will enable us to better service those clients."

Maples and Calder, which specialises in the practise of Cayman Islands, British Virgin Islands and Irish law, has had a long-standing presence in Asia. Its Hong Kong office is staffed with 30 lawyers. ]]>
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<![CDATA[Maples and Calder, Singapore]]> We are excited to announce the opening of our newest office, located in Singapore.

The office will be managed by funds partner, Nick Harrold who is joined by corporate finance partner, James Burch, and private equity and corporate lawyer, Tom Katsaros. Both Harrold and Burch will relocate from our Hong Kong office, whilst Katsaros rejoins Maples and Calder, having previously worked in our Cayman Islands office. Our Singapore office is a full service, full execution office providing Cayman Islands and British Virgin Islands advice across our core practice areas, including hedge and mutual funds, private equity, structured and asset finance, corporate law and trusts for high net worth individuals.

As a truly international law firm, we are keen to explore the opportunities that await us in this new jurisdiction. Our Hong Kong office has experienced substantial growth since opening in 1995 and we anticipate a similar success story in Singapore, which is a hub for many international firms and financial institutions.

The opening of a second office in Asia supports our Asian growth strategy and affirms our long-term commitment to our Asian clients.

For more information about our Singapore office, please visit our website:

yuershuang.com/offices-contacts/Singapore/  

]]>
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<![CDATA[MaplesFS Selected as Trustee and Administrator for China Life Franklin Asset Management]]> /en/News/Deals-and-Client-Wins/2012/09/MaplesFS-Selected-as-Trustee-and-Administrator-for-China-Life-Franklin-Asset-Management/en/News/Deals-and-Client-Wins/2012/09/MaplesFS-Selected-as-Trustee-and-Administrator-for-China-Life-Franklin-Asset-Management<![CDATA[CICC and Sloane Robinson fund launch]]> /en/News/Announcements/2012/08/CICC-and-Sloane-Robinson-fund-launch/en/News/Announcements/2012/08/CICC-and-Sloane-Robinson-fund-launch<![CDATA[Hony Capital Fund V-L.P. fund registration]]>  ]]>/en/News/Announcements/2012/08/Hony-Capital-Fund-V-L,-d-,P,-d-,-fund-registration/en/News/Announcements/2012/08/Hony-Capital-Fund-V-L,-d-,P,-d-,-fund-registration<![CDATA[New Lawyers Join Maples and Calders Leading Funds Team]]>
"It is with great pleasure that we add these new lawyers to our firm, as we anticipate that their collective expertise will serve to add more strength in depth to our client offering," our Global Head of the Funds Group, Jon Fowler, announced. "Maples and Calder is renowned for its collegiate approach and reputation as a top tier international law firm. We feel that these hires reinforce that position and are pleased that each of these lawyers made the decision to join us."

That 'collective expertise' covers both start-up and ongoing advice in relation to all aspects of investment funds, including the creation and innovative structuring of private equity funds and provision of bespoke solutions to challenges and opportunities arising within the hedge funds space. 

Tim, Greg, Philip, Patrick and Lucy have each represented large international financial institutions and independent investment managers across the spectrum. Each has significant experience in advising on fund structuring, formation, ongoing compliance, governance, restructuring and winding-up. 

Maples and Calder is recognised for the diverse wealth of experience that each of our lawyers brings to clients, who expect the highest level of service from us. We consistently recruit first class lawyers to meet that demand.

The six remaining lawyers mentioned in our earlier update will join the firm in October, to take up their respective roles within the Funds group.

For further information please contact any of the partners listed above.]]>
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<![CDATA[Maples and Calder Advises Terra Firma on Acquisition of Four Seasons Health Care]]>
Maples and Calder acted as Cayman Islands counsel to Terra Firma and the Maples team was led by corporate partner, Jack Marriott in London and included corporate associate, Jess Stock. Slaughter and May (led by Jeff Twentyman) acted as lead counsel to Terra Firma except in respect of US financing issues, regarding which Cravath Swaine & Moore advised.
]]>
/en/News/Deals-and-Client-Wins/2012/07/Maples-and-Calder-Advises-Terra-Firma-on-Acquisition-of-Four-Seasons-Health-Care/en/News/Deals-and-Client-Wins/2012/07/Maples-and-Calder-Advises-Terra-Firma-on-Acquisition-of-Four-Seasons-Health-Care
<![CDATA[Tyler Kim CIO Named to Institutional Investor's Tech 50]]>
]]>
/en/News/Announcements/2012/07/Tyler-Kim-CIO-Named-to-Institutional-Investor's-Tech-50/en/News/Announcements/2012/07/Tyler-Kim-CIO-Named-to-Institutional-Investor's-Tech-50
<![CDATA[Maples Fund Services Provides Consolidated Risk Reporting for SBCERA]]> /en/News/Announcements/2012/07/Maples-Fund-Services-Provides-Consolidated-Risk-Reporting-for-SBCERA/en/News/Announcements/2012/07/Maples-Fund-Services-Provides-Consolidated-Risk-Reporting-for-SBCERA<![CDATA[Maples and Calder Trusts Partner Elected as STEP Chairman]]>
Maples and Calder trust partner, Nigel Porteous, secured the honourable position of Chairman, succeeding Carlos Pimentel, who served for three years in the post. Mr. Porteous is a good fit for the role, given his experience on all aspects of trusts law including those concerning private trusts, public trusts and trusts used for commercial purposes, in particular unit trusts. His practice encompasses technical and practical advice for private individuals as well as for the world's leading multinational banks and trust companies. Mr. Porteous is regularly consulted by corporate trustees on matters concerning management of trust business, the formulation of precedents and the mitigation of risk; all fields in which he has over twenty years of experience. His advice is also frequently sought on the formulation of complex trust structures, solutions for trust structural and validity issues, and the resolution of trust disputes.

Mr. Porteous has also served in the capacity of STEP Secretary for the City of London branch.

"I look forward to serving as Chairman and to the challenges ahead for STEP Cayman, as it strives to promote and support the trusts and estate industry in the Cayman Islands," said Mr. Porteous. "I would like to extend my thanks to those outgoing officers for their years of hard work and dedication to the office."

Jacqueline Stirling assumes the role of STEP Treasurer, taking over from William Walmsley who will now serve as STEP Vice Chairman. Andrew Miller retains the office of Secretary for the fourth consecutive year, and Joan Dowling will serve as Student Liaison Officer.]]>
/en/News/Announcements/2012/07/Maples-and-Calder-Trusts-Partner-Elected-as-STEP-Chairman/en/News/Announcements/2012/07/Maples-and-Calder-Trusts-Partner-Elected-as-STEP-Chairman
<![CDATA[Specialist Insurance Litigator Joins Maples and Calder's Dublin Office]]>
The Irish office of leading international law firm Maples and Calder ("Maples") is pleased to announce that Peter Lennon has joined the firm as Of Counsel in the Commercial Litigation and Dispute Resolution Group.

Peter has been practising as a litigator for over 20 years primarily in the area of insurance dispute resolution particularly in defensive insurance claims and provides specific insurance advice to all of the major underwriters in the Irish market. He acts in adversarial matters in the District, Circuit and High Court for many large clients and is regarded as a highly skilled advocate. Peter joins Maples along with three of his former colleagues and will lead the firm’s Insurance Litigation practice.

Andrew Doyle, Managing Partner of Maples’ Dublin office, said, "We are delighted to welcome Peter and his team to Maples. Peter brings a wealth of experience and gives further strength and depth to our Commercial Litigation and Dispute Resolution team.”

Commenting on Peter’s arrival, Dudley Solan, Head of the Commercial Litigation and Dispute Resolution, said, “Our team has gone from strength to strength over the past number of years as we continue to develop our client base and win significant instructions. Peter’s arrival deepens our capacity in the insurance litigation sector which we believe is key to the future development of the group.”]]>
/en/News/Announcements/2012/07/Specialist-Insurance-Litigator-Joins-Maples-and-Calder,-q-,s-Dublin-Office/en/News/Announcements/2012/07/Specialist-Insurance-Litigator-Joins-Maples-and-Calder,-q-,s-Dublin-Office
<![CDATA[Maples and Calder Advises Abcam on US$170 Million Acquisition of Epitomics]]>
The acquisition was funded in cash and stock. Abcam issued approximately 14.5 million new shares as part of the deal and has put in place a new credit facility to help fund the acquisition. The transaction was structured by way of a tender offer followed by two mergers under Cayman Islands law, the second of which became effective on 20 June 2012.

Maples and Calder acted as Cayman Islands counsel to Abcam and the Maples team was led by corporate partner, Jack Marriott in London and included associate, Matthew Bloomfield. The Maples team worked closely with Hogan Lovells, who fielded a cross-border team in their London, Palo Alto and Shanghai offices.

Shaun Denton, Managing Partner of the Maples and Calder London office, commented:

"We were very pleased to have been able to assist Abcam on this important strategic acquisition that fits with its global vision to become the world’s leading life science tools company. This transaction is one further example of how flexible and useful the Cayman merger regime can be as a solution to structuring issues".]]>
/en/News/Deals-and-Client-Wins/2012/07/Maples-and-Calder-Advises-Abcam-on-US$170-Million-Acquisition-of-Epitomics/en/News/Deals-and-Client-Wins/2012/07/Maples-and-Calder-Advises-Abcam-on-US$170-Million-Acquisition-of-Epitomics
<![CDATA[Maples Advises Edwards Group on Cross-Border IPO]]>
Shaun Denton, Managing Partner of the Maples and Calder London office, commented: "We were very pleased to be involved with the Edwards Group IPO, one of the few successful premium equity offerings in the last six months."

The Edwards Group, with over 3,300 employees in approximately 30 countries worldwide, is a leading manufacturer of sophisticated vacuum products and abatement systems and a leading provider of related value-added services.  In the year ended 31 December 2011, it had a turnover of approximately $1.1 billion.  It sells its products and services to more than 20,000 customer accounts across Asia, the Americas and Europe. 

Maples and Calder acted as Cayman Islands counsel to Edwards Group and the Maples team was led by Corporate partner Jack Marriott in London and included Corporate associate Jess Stock. Maples Fund Services (Cayman) Limited has been engaged as registrar in respect of the ordinary shares of Edwards Group Limited. The Maples team worked closely with the Weil team, who acted as English and New York counsel to Edwards Group, and the Edwards Group legal team led by Adam Ramsay, General Counsel.  Underwriters Barclays, Goldman Sachs and Deutsche Bank were represented by Davis Polk & Wardwell.]]>
/en/News/Deals-and-Client-Wins/2012/06/Maples-Advises-Edwards-Group-on-Cross-Border-IPO/en/News/Deals-and-Client-Wins/2012/06/Maples-Advises-Edwards-Group-on-Cross-Border-IPO
<![CDATA[Maples Group Expands Operation in Dublin]]>
Minister for Jobs, Enterprise and Innovation Richard Bruton TD today announced that Maples and Calder, a leading international corporate and finance law firm which has created 175 jobs in Dublin over the past 5 years, has plans to create a further 75 jobs within the next three years. This is as a result of growing demand for both its international legal services and the fiduciary and fund administration services provided by its affiliate, MaplesFS. The Maples group is a client company of IDA Ireland.

The Maples group comprises Maples and Calder, an international corporate and finance law firm, and MaplesFS, an independent provider of specialised fiduciary and fund services. Clients include many of the world’s foremost corporates, banks and financial institutions as well as private equity funds and growth companies. Founded over 50 years ago, Maples and Calder has grown to become a market leading international corporate and finance firm.

In 2006, Maples established an operation in Dublin, offering a full-service legal practice advising both Irish and international clients, in addition to providing specialised fiduciary, accounting and administration services to finance vehicles and funds, through its affiliate MapleFS.  The organisation now employs 175 people across the two divisions.

Making the announcement, Minister Bruton said “International financial services is a key target sector of Government as part of our plan for jobs and growth, and the Taoiseach has set the target of creating an additional 10,000 jobs in the sector by 2016. Today’s announcement that this world-leading financial and legal services provider, which only came to Ireland in 2006, is expanding its workforce with the creation of 75 jobs, is great news. The success of the Maples Group in Ireland demonstrates the potential for future growth in this sector, and through continued implementation of the Action Plan for Jobs we are determined to build on this and create the jobs we need”.

Managing Partner of Maples and Calder in Dublin, Andrew Doyle, said “We continue to expand our business in Dublin to better serve our clients here as well as international clients who are carrying on business in and through Ireland. Our growth has been driven by the calibre of the people who have joined Maples in Dublin over the course of the last five years.”

Commenting on the expansion, CEO IDA Ireland, Barry O’Leary said “The strength and depth of industries such as Aircraft Finance and Investment Funds in Ireland is a major attraction for leading corporate and financial services firms such as Maples. As the IFSC has gained critical mass as a global financial hub, international law firms, such as Maples, have been attracted to locate in Dublin both to service existing clients and to win incremental business.”

Please see the attached for further information.]]>
/en/News/Announcements/2012/06/Maples-Group-Expands-Operation-in-Dublin/en/News/Announcements/2012/06/Maples-Group-Expands-Operation-in-Dublin
<![CDATA[Maples and Calder's Co-Founding Partner Passes]]> Maples and Calder regrets to announce the passing of its co-founding partner, Lord John Maples, a stalwart who helped shape the face of the legal industry in the Cayman Islands.

Educated at Marlborough College as well as Cambridge University, Lord Maples read Law at Downing College and received an MA in 1964. He studied at the Harvard Business School and was called to the Bar at the Inner Temple in 1965.

Lord Maples first partnered with fellow lawyer, James MacDonald, in the 1960s and later with Douglas Calder to form the partnership of Maples and Calder, now a leading international law firm. His contributions and impact on the legal profession in the Cayman Islands were notable.

Lord Maples' influence in UK politics was as equally impressive and widely respected. Following his retirement from the firm in 1975, Lord Maples returned to his native England, eventually taking up the honourable post of Deputy Chairman of the British Conservative Party, and held such prestigious positions as a member of Parliament, including Parliamentary Private Secretary, Treasury Minister responsible for Debt and International Issues and various Shadow roles including Health, Defence and Foreign Secretary.

"The partners and staff of Maples and Calder are deeply saddened by the news of the passing of one of our founding partners, Lord Maples, and we wish to extend our most heartfelt condolences to his family," said Global Managing Partner, Henry Smith. " He was indeed the cornerstone of the Maples and Calder legacy and his integrity and work ethic continue to be the core principles from which we set all standards within the firm."

Lord Maples passed away on 9 June 2012.

]]>
/en/News/Announcements/2012/06/Maples-and-Calder's-Co-Founding-Partner-Passes/en/News/Announcements/2012/06/Maples-and-Calder's-Co-Founding-Partner-Passes
<![CDATA[3G Capital Sells Stake in Burger King]]> Justice") a British Virgin Islands business company, publicly listed on the London Stock Exchange, on BVI law matters in connection with its business combination agreement with Burger King Worldwide Holdings, Inc. ("Burger King Worldwide"), the world's second largest fast food hamburger restaurant chain.  Under the terms of the agreement 3G Capital, a global investment firm and Burger King Worldwide’s principal stockholder, will receive approximately $1.4 billion in cash and continue as the majority shareholder.  The Justice shareholders and its founders will own approximately 29% of the combined company and, upon closing, it is expected that the newly formed combined company will list and commence trading on the New York Stock Exchange.  Greenberg Traurig LLP advised Justice as to matters of UK and US law.  The transaction was led by corporate partner, Richard May, with associates Matthew Gilbert and Ruairi Bourke assisting.  US counsel for Justice was Greenberg Traurig, LLP.]]>/en/News/Announcements/2012/06/3G-Capital-Sells-Stake-in-Burger-King/en/News/Announcements/2012/06/3G-Capital-Sells-Stake-in-Burger-King<![CDATA[Golden Crescent Investments Ltd.]]> Golden Crescent”), a BVI business company in connection with the proposed sale of all of the issued and outstanding shares of National Petroleum Company Egypt Limited (“NPC Egypt”) to Sea Dragon Energy Inc. (“Sea Dragon”) (TSX VENTURE: SDX).  Under the terms of the sale, Sea Dragon will acquire, directly or indirectly, all of the issued and outstanding shares of NPC Egypt in consideration of the issuance of 437.5 million common shares of Sea Dragon at a deemed price of US$0.20 per share and US$60 million of redeemable, convertible, non-voting preferred shares. Corporate Partner Richard May is leading the deal with assistance from associates, Rupert Dean and Ruairi Bourke. Osler, Hoskin & Harcourt LLP is advising Golden Crescent as to matters of Canadian law.]]>/en/News/Announcements/2012/06/Golden-Crescent-Investments-Ltd,-d-,/en/News/Announcements/2012/06/Golden-Crescent-Investments-Ltd,-d-,<![CDATA[Eco (Atlantic) Oil - Gas Ltd.]]> /en/News/Announcements/2012/05/Eco-(Atlantic)-Oil---Gas-Ltd,-d-,/en/News/Announcements/2012/05/Eco-(Atlantic)-Oil---Gas-Ltd,-d-,<![CDATA[MaplesFS Expands Middle East Presence]]> MaplesFS, a leading independent global fund services and fiduciary services provider, has expanded its presence and regional commitment in the Middle East with three senior hires in its Dubai office. Fred Tabbal joins as Regional Head of Fund Services, Andrew Millar joins as Senior Vice President of Fiduciary Services, and Charlotte Windsor as Vice President of Fund Services.

In their new roles, Tabbal and Millar oversee strategic direction for their respective line of business in the region, business development, and will be responsible for managing the entire Middle East team and operations. Windsor has operational responsibility for the fund accounting and investor services teams in Dubai and will also play a role in business development. MaplesFS’ growth is based on economic activity in the Middle East, particularly around increased launches in private equity, hedge funds, and sukuk financing, a leading form of Islamic financing.

Dubai Hires Press Release

]]>
/en/News/Announcements/2012/04/MaplesFS-Expands-Middle-East-Presence/en/News/Announcements/2012/04/MaplesFS-Expands-Middle-East-Presence
<![CDATA[Islamic Finance Highlights Opportunities for Ireland]]>
In his opening remarks the Tánaiste discussed current Government policy in this area and the legislation adopted by Government to encourage growth within this sector. He said, "We need to build on areas where we already have strengths, such as in financial services, but expand our horizons and our activities to create more and better jobs. There is potential for significant growth in Islamic finance and this forms part of the Government's strategy for the financial services industry in Ireland. Ireland is already a base for 20% of Islamic funds which are domiciled outside the Middle East. We want to establish the IFSC as a centre of excellence for Islamic finance. While Ireland is currently out of the market, we are open to considering issuing an Irish sovereign 'sukuk' (Islamic compliant bond) in the future."

Andrew Quinn, Chairman of IFA Ireland and Head of Tax at Maples and Calder, commented, " The clear message from our seminar is the Government’s interest in developing the IFSC as a centre of excellence in Islamic finance. The expert speakers outlined the size and potential for growth in Islamic finance and the opportunities for Ireland. Ireland has a track record in establishing centres of excellence in financial services, such as in investment funds, debt capital markets and aircraft leasing, and this success can be replicated in Islamic finance."

The International Fiscal Association Ireland ("IFA Ireland") hosted a seminar to discuss opportunities for Ireland in Islamic finance. The seminar was chaired by Andrew Quinn, Chairman of IFA Ireland and Head of Tax at international law firm Maples and Calder. Andrew was joined by the Tánaiste, Leader of the Labour Party and Minister for Foreign Affairs and Trade, Eamon Gilmore, and a number of expert speakers who gave their views on current opportunities for Ireland in Islamic finance.]]>
/en/News/Announcements/2012/04/Islamic-Finance-Highlights-Opportunities-for-Ireland/en/News/Announcements/2012/04/Islamic-Finance-Highlights-Opportunities-for-Ireland
<![CDATA[Para Advisors Selects Maples Fund Services as Administrator for Onshore Funds]]> /en/News/Deals-and-Client-Wins/2012/04/Para-Advisors-Selects-Maples-Fund-Services-as-Administrator-for-Onshore-Funds/en/News/Deals-and-Client-Wins/2012/04/Para-Advisors-Selects-Maples-Fund-Services-as-Administrator-for-Onshore-Funds<![CDATA[Maples Fund Services expands its European operations]]> Maples Fund Services has expanded its European operations with the hire of Steve Lewis, Director of European Business Development. Based in London, Steve is responsible for expanding the fund administration and middle-office businesses across the firm’s European offices. Steve was previously at State Street Bank & Trust, where he focused on sales of administration, custody services and associated products to the UK alternative investments market.MaplesFS, a leading independent global fund services and fiduciary services provider, has expanded its presence and regional commitment in the Middle East with three senior hires in its Dubai office.

Fred Tabbal joins as Regional Head of Fund Services, Andrew Millar joins as Senior Vice President of Fiduciary Services, and Charlotte Windsor as Vice President of Fund Services. In their new roles, Tabbal and Millar oversee strategic direction for their respective line of business in the region, business development, and will be responsible for managing the entire Middle East team and operations. Windsor has operational responsibility for the fund accounting and investor services teams in Dubai and will also play a role in business development. MaplesFS’ growth is based on economic activity in the Middle East, particularly around increased launches in private equity, hedge funds, and sukuk financing, a leading form of Islamic financing.

]]>
/en/News/Announcements/2012/04/Maples-Fund-Services-expands-its-European-operations/en/News/Announcements/2012/04/Maples-Fund-Services-expands-its-European-operations
<![CDATA[HFMWeek Names Maples Fund Services Best Small and Start-up Administrator]]> /en/News/Announcements/2012/03/HFMWeek-Names-Maples-Fund-Services-Best-Small-and-Start-up-Administrator/en/News/Announcements/2012/03/HFMWeek-Names-Maples-Fund-Services-Best-Small-and-Start-up-Administrator<![CDATA[Maples and Calder's Cayman and British Virgin Islands Offices to Expand Leading Funds Team]]> The Cayman Islands and British Virgin Islands (BVI) offices of international law firm Maples and Calder (Maples) are pleased to announce the recruitment of 7 partners and 3 associates to join the firm's growing investment funds practice.

Currently at offshore firm Walkers, partners Julian Ashworth, Heidi De Vries, Sheryl Dean, David Marshall, Philip Millward and Gwyneth Rees, and senior associates Philip Dickinson, Patrick Head and Lucy Nicklas will be joining Maples' Cayman Islands office and partner Tim Clipstone will be joining the firm's BVI office as soon as they are free to do so under their existing arrangements.  These 10 key hires will reinforce Maples' position as a premier service provider, offering an unrivalled range of expertise in the funds arena.  

Jon Fowler, Global Head of Investment Funds, said "We look forward to welcoming Julian, Heidi, Sheryl, David, Philip M, Gwyneth, Tim, Philip D, Patrick and Lucy to our leading hedge fund and private equity teams in due course.  The recruitment of these high calibre individuals demonstrates our commitment to excellence and our focus on client service.  We are recognised for the quality of our professionals and our ability to deliver a seamless service offering legal, corporate, fiduciary, and funds solutions to our clients. The proven Maples business model avoids the dislocation of outsourcing entity formation and maintenance to a third party provider. This no doubt was a factor in their respective decisions to join us."  

Maples and Calder and its affiliate, MaplesFS, a leading specialised fiduciary and fund services provider, has grown from strength to strength. MaplesFS' industry experts work closely with Maples and Calder lawyers in a business model that provides a comprehensive service, unmatched by its competitors.  

Global Head of Private Equity, Iain McMurdo, stated "With the recent resurgence of the private equity market we are well positioned to provide excellent advice to our clients and we are delighted that each of these lawyers will be joining our global practice. Our private equity and hedge fund lawyers are specialists in their fields and bring a wealth of knowledge to each transaction. We are proud of our reputation as a world-class service provider and the lateral hire of such high quality lawyers reinforces our desire to maintain these standards and continue to grow our funds practice." 

Maples' global investment funds practice advises on the laws of the Cayman Islands, the BVI and Ireland. The firm is uniquely placed to provide multi-jurisdictional solutions.  

Global Head of BVI, Kieran Walsh, said "Operating in the second largest funds jurisdiction following Cayman, our BVI office has seen a steady increase in deal flow and our responsive funds team delivers an exemplary service to our clients.  We are pleased that Tim will become a part of our BVI funds group in the near future, further strengthening the depth of our practice and our commitment to the jurisdiction." 

Clients and competitors alike have long recognised Maples as the market leader in each of its principal practice areas.  The expansion of the firm's funds practice represents one of the largest recruitment initiatives in this sector in recent times.

]]>
/en/News/Announcements/2012/03/Maples-and-Calder's-Cayman-and-British-Virgin-Islands-Offices-to-Expand-Leading-Funds-Team/en/News/Announcements/2012/03/Maples-and-Calder's-Cayman-and-British-Virgin-Islands-Offices-to-Expand-Leading-Funds-Team
<![CDATA[Maples Cayman and BVI Offices to Expand Leading Funds Team]]> We are pleased to announce the recruitment of 7 partners and 3 associates to join our growing investment funds practice.

Currently at offshore firm Walkers, partners Julian Ashworth, Heidi De Vries, Sheryl Dean, David Marshall, Philip Millward and Gwyneth Rees, and senior associates Philip Dickinson, Patrick Head and Lucy Nicklas will be joining our Cayman Islands office and partner Tim Clipstone will be joining our British Virgin Islands ("BVI") office as soon as they are free to do so under their existing arrangements. These 10 key hires will reinforce Maples' position as the premier service provider, offering an unrivalled range of expertise in the funds arena.

Jon Fowler, Global Head of Investment Funds, said, "We look forward to welcoming Julian, Heidi, Sheryl, David, Philip M, Gwyneth, Tim, Philip D, Patrick and Lucy to our leading hedge fund and private equity teams in due course.  The recruitment of these high calibre individuals demonstrates our commitment to excellence and our focus on client service.  We are recognised for the quality of our professionals and our ability to deliver a seamless service offering legal, corporate, fiduciary and funds solutions to our clients. The proven Maples business model avoids the dislocation of outsourcing entity formation and maintenance to a third party provider. This no doubt was a factor in their respective decisions to join us."  
 
Maples and Calder and our affiliate, MaplesFS, a leading specialised fiduciary and fund services provider, has grown from strength to strength. MaplesFS' industry experts work closely with Maples and Calder lawyers in a business model that provides a comprehensive service, unmatched by our competitors. 

Global Head of Private Equity, Iain McMurdo, stated "With the recent resurgence of the private equity market we are well positioned to provide excellent advice to our clients and we are delighted that each of these lawyers will be joining our global practice. Our private equity and hedge fund lawyers are specialists in their fields and bring a wealth of knowledge to each transaction. We are proud of our reputation as a world-class service provider and the lateral hire of such high quality  lawyers reinforces our desire to maintain these standards and continue to grow our funds practice."

Our global investment funds practice advises on the laws of the Cayman Islands, the BVI and Ireland. We are uniquely placed to provide multi-jurisdictional solutions.

Global Head of BVI, Kieran Walsh, said, "Operating in the second largest funds jurisdiction following Cayman, our BVI office has seen a steady increase in deal flow and our responsive funds team delivers an exemplary service to our clients.  We are pleased that Tim will become a part of our BVI funds group in the near future, further strengthening the depth of our practice and our commitment to the jurisdiction."  

Clients and competitors alike recognise us as the market leader in each of our principal practice areas. The expansion of our funds practice represents one of the largest recruitment initiatives in this sector in recent times. 

For further information please speak to your usual Maples and Calder contact, or any of the partners listed above.

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/en/News/Announcements/2012/03/Maples-Cayman-and-BVI-Offices-to-Expand-Leading-Funds-Team/en/News/Announcements/2012/03/Maples-Cayman-and-BVI-Offices-to-Expand-Leading-Funds-Team
<![CDATA[MaplesFS Offers Comprehensive Incubator Solution]]> /en/News/Announcements/2012/03/MaplesFS-Offers-Comprehensive-Incubator-Solution/en/News/Announcements/2012/03/MaplesFS-Offers-Comprehensive-Incubator-Solution<![CDATA[Maples and Calder Announces New Partners]]> ]]>/en/News/Announcements/2012/03/Maples-and-Calder-Announces-New-Partners/en/News/Announcements/2012/03/Maples-and-Calder-Announces-New-Partners<![CDATA[Maples Fund Services Introduces Intuitive Risk Reporting]]> /en/News/Announcements/2012/03/Maples-Fund-Services-Introduces-Intuitive-Risk-Reporting/en/News/Announcements/2012/03/Maples-Fund-Services-Introduces-Intuitive-Risk-Reporting<![CDATA[Maples Advises Hilco on Lender Sale of Leading Irish Fashion Retailer A-Wear]]>
Please see the attached for further information.]]>
/en/News/Deals-and-Client-Wins/2012/02/Maples-Advises-Hilco-on-Lender-Sale-of-Leading-Irish-Fashion-Retailer-A-Wear/en/News/Deals-and-Client-Wins/2012/02/Maples-Advises-Hilco-on-Lender-Sale-of-Leading-Irish-Fashion-Retailer-A-Wear
<![CDATA[Enhanced Fitness and Probity Regime - Key Changes Announced by the Central Bank]]> The enhanced fitness and probity regime is due to come into effect on 1 December 2011. In the wake of much industry concern and growing calls for clarification and changes to the regime, the Central Bank of Ireland ("Central Bank") has just announced a range of changes, some of them very significant. This update highlights some key changes that will be welcomed by industry.

Please see here for further information.]]>
/en/News/Announcements/2011/11/Enhanced-Fitness-and-Probity-Regime---Key-Changes-Announced-by-the-Central-Bank/en/News/Announcements/2011/11/Enhanced-Fitness-and-Probity-Regime---Key-Changes-Announced-by-the-Central-Bank
<![CDATA[Maples and Calder's Hong Kong Office Hosts Cayman Islands Government Officials]]> /en/News/Announcements/2011/11/Maples-and-Calder's-Hong-Kong-Office-Hosts-Cayman-Islands-Government-Officials/en/News/Announcements/2011/11/Maples-and-Calder's-Hong-Kong-Office-Hosts-Cayman-Islands-Government-Officials<![CDATA[Maples Recognised at the 2011 IFLR Middle East Awards]]> Maples and Calder once again affirmed its position as leading offshore law firm in the Middle East as it scooped 2 awards at the 2011 IFLR Middle East Awards.

Acting as Cayman Islands counsel on two award winning deals, Maples and Calder was part of the teams which received awards for Debt and Equity Linked Deal of the Year and Project Finance Deal of the Year.

Tahir Jawed, Managing Partner of Maples and Calder’s Dubai office, said, "We are delighted to accept these awards. The recognition they bring is ." a testament to our position as market leaders and highlights the enduring popularity of Cayman Islands-based Islamic finance vehicles Shuweihat 3 IPP Project, reportedly the biggest project financing the year, was declared Project Finance Deal of the Year.

Herbert Smith and Stibbe advised on the English and Dutch law aspects of the project respectively, with Maples and Calder acting as Cayman Islands counsel supporting Herbert Smith. Ashurst acted as international counsel for the lenders, White & Case acted as international counsel to Abu Dhabi Water and Electricity ity and Trowers and Hamlins acted as local counsel. HSBC Bank Middle East Sukuk, the US$5 billion sukuk programme and the US$500 million issuance under the programme, was Debt and Equity Linked Deal of the Year. Linklaters advised the guarantor on English and UAE law, Clifford Chance advised the managers on English and UAE law and Maples and Calder advised the issuer on Cayman Islands law.

Maples and Calder advised on a total of 8 deals which were nominated for this year’s Awards, including 5 out of the 7 deals in contention for the Debt and Equity Linked Deal of the Year, a further testament to its standing in the region as a top tier firm.

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/en/News/Announcements/2011/10/Maples-Recognised-at-the-2011-IFLR-Middle-East-Awards/en/News/Announcements/2011/10/Maples-Recognised-at-the-2011-IFLR-Middle-East-Awards
<![CDATA[Maples Fund Services Expands Middle Office Offering]]> /en/News/Announcements/2011/10/Maples-Fund-Services-Expands-Middle-Office-Offering/en/News/Announcements/2011/10/Maples-Fund-Services-Expands-Middle-Office-Offering<![CDATA[A wear Receives Additional Working Capital]]> A wear has announced the sale, for an undisclosed consideration, of the entire share capital of the Dublin-based fashion retailer to Hilco Ireland, the Irish arm of the retail restructuring specialist Hilco which recently also acquired the Canadian business of HMV.

Please see click here for further information.

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/en/News/Announcements/2011/10/A-wear-Receives-Additional-Working-Capital/en/News/Announcements/2011/10/A-wear-Receives-Additional-Working-Capital
<![CDATA[Maples Fund Services Wins HFMWeek Award]]> /en/News/Announcements/2011/10/Maples-Fund-Services-Wins-HFMWeek-Award/en/News/Announcements/2011/10/Maples-Fund-Services-Wins-HFMWeek-Award<![CDATA[Maples Advise NAMA on the Sale of Maybourne]]> The Irish office of leading international law firm Maples and Calder ("Maples") has advised the National Asset Management Agency (NAMA) on the sale, at full value, of approximately £660 million in debt held on the Maybourne Hotels Group to a vehicle established by the Barclay Brothers, which completed on 27 September 2011.

Please click here for further information.

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<![CDATA[Maples Fiduciary Launches in Delaware]]> MaplesFS announced the expansion of its fiduciary services division with the launch of Maples Fiduciary Services (Delaware) LLC. The focus of this new office will be to provide independent governance services (directors and member managers) to Delaware based investment funds and asset finance vehicles.

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/en/News/Announcements/2011/09/Maples-Fiduciary-Launches-in-Delaware/en/News/Announcements/2011/09/Maples-Fiduciary-Launches-in-Delaware
<![CDATA[Maples and Calder- The Leading Offshore Law Firm]]> The HedgeFund Journal recently published an article reaffirming Maples and Calder's long known reputation as the offshore fund law firm of choice. Touted as a specialist firm with an impressive clientele of the who's who in the fund industry, Maples and Calder is seen as a key player in the blueprint design of the offshore hedge fund industry, with crises-tested resilience and longevity.

Please click here for further information. It was first published in April 2011 in the HedgeFund Journal.

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/en/News/Announcements/2011/05/Maples-and-Calder--The-Leading-Offshore-Law-Firm/en/News/Announcements/2011/05/Maples-and-Calder--The-Leading-Offshore-Law-Firm
<![CDATA[Maples Fund Services Offers Middle Office Outsourcing Solutions]]> Maples Fund Services, a leading independent global fund services provider, today announced it is offering a suite of middle office outsourcing solutions that will enable institutional investors to efficiently and effectively implement the operations and technology required to support their increasingly complex investment strategies.

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/en/News/Announcements/2010/12/Maples-Fund-Services-Offers-Middle-Office-Outsourcing-Solutions/en/News/Announcements/2010/12/Maples-Fund-Services-Offers-Middle-Office-Outsourcing-Solutions
<![CDATA[Maples and Calder Appoints New Hong Kong Office Joint Managing Partner]]> International law firm Maples and Calder today announced that Gareth Griffiths has joined its Hong Kong office as Joint Managing Partner.  Previously Managing Partner of Maples and Calder in the Cayman Islands, Gareth’s areas of expertise include investment funds and all aspects of corporate work, including joint ventures, IPOs and mergers and acquisitions.

Gareth will work closely with current Hong Kong Joint Managing Partner, Christine Chang, to develop the firm’s Asia Pacific practice.  Christine said, “I am delighted to welcome Gareth to our Hong Kong office. The Hong Kong office has gone from strength to strength in recent months and Gareth’s appointment reflects the growing importance of the Asia Pacific region to Maples and Calder.”

Previous Joint Managing Partner Spencer Privett will take up the position of Chairman of the Asia Pacific division of Maples Fund Services, a leading independent global fund services provider.  Spencer will also continue in his role as head of the investment funds group in Maples and Calder's Hong Kong office. Scott Somerville, CEO of MaplesFS said, “We are very excited to welcome Spencer as the Chairman of the Asia Pacific division of Maples Fund Services.

We have committed significant resources to Maples Fund Services over the past 18 months, building out a global operational infrastructure and technology platform. Spencer’s new position highlights our commitment to the continuation of this process and we expect to see a number of exciting developments across the business in the coming months.”

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<![CDATA[Maples Fund Services Launches New Brand]]> Maples Fund Services, a leading independent global fund services provider, is pleased to announce a formal launch of their restructured fund administration business, formerly operating as Maples Finance.

The announcement is part of the global restructuring of the Maples Finance business, which now operates as MaplesFS, with various business divisions including Maples Fund Services. “With our new brand, Maples Fund Services is now positioned as a fully outsourced solutions provider,” said Scott Somerville, CEO of MaplesFS. “Over the past eighteen months, we have committed a significant amount of resources to Maples Fund Services, building out a best of breed operational infrastructure and technology platform, re-organizing our executive team, including adding dedicated business development resources in the US and Europe, and ensuring a global platform to offer a customizable service offering.

” Mr. Somerville, who previously held a number of senior management positions within MaplesFS, becomes CEO of the group. Toni Pinkerton, with the firm for 6 years, moves into the role of Global Head of Fund Services for Maples Fund Services. The Maples Fund Services executive team is rounded out by Tyler Kim, the Chief Information Officer, responsible for building out all technology and infrastructure.

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<![CDATA[Maples and Calder Advises on the first British Virgin Islands Company to List on the Hong Kong Stock Exchange]]> /en/News/Deals-and-Client-Wins/2010/09/Maples-and-Calder-Advises-on-the-first-British-Virgin-Islands-Company-to-List-on-the-Hong-Kong-Stock-Exchange/en/News/Deals-and-Client-Wins/2010/09/Maples-and-Calder-Advises-on-the-first-British-Virgin-Islands-Company-to-List-on-the-Hong-Kong-Stock-Exchange<![CDATA[Maples Fund Services develops managed accounts administration platform]]> Many institutional investors are now looking to gain exposure to hedge fund strategies through managed accounts programs rather than pooled investment vehicles. Maples Fund Services has leveraged this opportunity by developing, in conjunction with its technology partners, some unique proprietary solutions that help investors administer a managed account structure. Advent's Geneva, one of the key elements of Maples Fund Services' technology platform, can be used to create customised solutions that seamlessly integrate data flowing to and from investment managers, prime brokers and Geneva.

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<![CDATA[Maples and Calder Wins ALB Offshore Law Firm of the Year Award for Japan]]> Maples and Calder has been selected by Asian Legal Business ("ALB") as the 2010 Offshore Law Firm of the Year for Japan for the second consecutive year. ALB is a prominent independent magazine covering legal news, events and developments across Asia. A panel, mainly comprised of senior in-house lawyers, chose the winner based on peer nominations and supplementary third party research by ALB.

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<![CDATA[Maples and Calder Advises on the First Listing of a US Business on the Main Board of the Taiwan Stock Exchange]]> /en/News/Deals-and-Client-Wins/2010/05/Maples-and-Calder-Advises-on-the-First-Listing-of-a-US-Business-on-the-Main-Board-of-the-Taiwan-Stock-Exchange/en/News/Deals-and-Client-Wins/2010/05/Maples-and-Calder-Advises-on-the-First-Listing-of-a-US-Business-on-the-Main-Board-of-the-Taiwan-Stock-Exchange<![CDATA[Maples and Calder Appoints Senior Banking Partner to its Finance Group]]> Maples and Calder in Dublin has appointed Liam Carney as a partner in its finance group. Liam was previously a partner and banking lawyer with one of Ireland's large domestic law firms. With extensive experience in Ireland and internationally, Liam has 18 years of experience as a finance lawyer and is recognised for his expertise in general banking, asset and structured finance.

Liam also worked for a number of years as senior in-house counsel to the corporate lending division of one of Ireland's major banks. His appointment follows the recent appointments of Paul Dobbyn and Peter Stapleton as partners in the funds group of the firm's Dublin office.


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<![CDATA[Maples and Calder Named Best Offshore Law Firm for Fund Services]]> HFMWeek has named Maples and Calder the "Best Offshore Law Firm" at both its U.S. and European Hedge Fund Service Provider Awards.

HFMWeek also ranked Maples and Calder number one in the "Top 10 Firms Overall" category in its 2010 Offshore Legal Survey. The survey was based on responses from over 90 onshore hedge fund legal professionals who were asked to rate the performance of their offshore peers.

HFMWeek is a prominent independent magazine covering fund industry news and events for the international hedge fund community.


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<![CDATA[Leading Irish Investment Funds Lawyer to Join Maples and Calder in Dublin]]> Maples and Calder in Dublin has appointed Peter Stapleton as a partner in its investment funds group. Peter was formerly a partner with one of Ireland's principal investment funds law firms and is widely recognised as a leading lawyer in the Irish financial services sector. He advises investors, promoters, fund managers and investment banks on the establishment, ongoing management and restructuring of both traditional and alternative investment funds. The firm's Irish funds practice trebled in size in 2009 and Peter's expertise and capability will further enhance the team's ability to serve a growing domestic and international client base.

Please see here for further information.

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<![CDATA[Maples and Calders British Virgin Islands Office Welcomes Funds Partner and Insolvency Specialist]]> Funds partner Kieran Walsh has relocated to Maples and Calder in the British Virgin Islands from the firm's Cayman Islands office. Kieran will lead the British Virgin Islands funds practice and will continue in his role as co-head of the firm's Latin American practice group. He advises on the establishment and maintenance of private equity and hedge funds for a range of investment managers and financial institutions. He also advises on general corporate and capital markets matters. 

Insolvency specialist Ben Mays has joined the British Virgin Islands litigation and insolvency team. Ben is a senior litigator and has over ten years of cross-border insolvency, corporate recovery and restructuring experience. Ben previously worked in Maples and Calder's litigation and insolvency department in the Cayman Islands.

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<![CDATA[Maples Advises on first-of-its-kind Parking Title for Green Delivery]]>
Please see the attached update for further information.]]>
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<![CDATA[New Partner to Join Maples and Calder in Dublin]]> Paul Dobbyn will join Maples in Dublin on 1 May 2010. Paul's appointment will bolster the funds group given his recognition as a leader in the Irish financial services and funds industry. He has been heavily involved in shaping the regulation of the industry in Ireland both at policy level and its implementation through legislation and regulation. Paul will also lead the firm's growing insolvency practice. Since 2006 he has practised as a barrister at the Irish Commercial Bar, prior to which he was a senior partner at one of Ireland's large domestic corporate law firms, where he led both the investment funds and insolvency groups.

As the firm continues to work in partnership with many of the world's other leading international law firms, Paul's appointment will be invaluable in furthering the development of Maples' Dublin office and growing its funds market share in Ireland.

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/en/News/Announcements/2010/04/New-Partner-to-Join-Maples-and-Calder-in-Dublin/en/News/Announcements/2010/04/New-Partner-to-Join-Maples-and-Calder-in-Dublin
<![CDATA[Maples and Calder Scoop at Islamic Finance Awards]]> /en/News/Announcements/2010/03/Maples-and-Calder-Scoop-at-Islamic-Finance-Awards/en/News/Announcements/2010/03/Maples-and-Calder-Scoop-at-Islamic-Finance-Awards<![CDATA[Maples Advises Hosting 365 on Acquisition]]> Maples and Calder ("Maples"), Dublin is pleased to announce that it has advised Irish based cloud computing and data services company Hosting 365 Limited on their acquisition by SunGard.  Leading technology corporate finance house Atlanta International Partners also advised Hosting 365.]]>/en/News/Deals-and-Client-Wins/2010/03/Maples-Advises-Hosting-365-on-Acquisition/en/News/Deals-and-Client-Wins/2010/03/Maples-Advises-Hosting-365-on-Acquisition<![CDATA[Maples and Calder Introduces New Global Management Structure]]> Maples and Calder has introduced a new management structure to reflect the firm's growing global reach and increasingly complex cross-border business.Henry Smith, based in the Cayman Islands office, has taken on the newly created role of Global Managing Partner. Cayman-based partner, David Brooks has been appointed Chairman of Maples Finance, the fiduciary and fund administration service provider, to help oversee global strategy. 

In addition, a new Global Management Committee has been created to oversee the co-ordination of the Maples Group and to continue to develop its global strategy.

The committee will include the following members: Henry Smith, David Brooks and the managing partners of Maples and Calder's Cayman, Hong Kong and Dublin offices. 

Please click here for further information.

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