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This content is provided by Stuarts Walker Hersant Humphries.

Chairman: Andrew Hersant
Managing Director: Chris Humphries
Number of partners: 4
Number of lawyers: 11
Languages: English, French, Spanish

Firm Contact:
Managing Director:
Chris Humphries
Tel: +345 814 7911
Email: [email protected]

Firm Overview:
Stuarts Walker Hersant Humphries (Stuarts) is a leading offshore law firm advising international law firms, major financial institutions, Fortune 500 companies and high-net worth individuals. The firm’s vision is to be the offshore legal partner of choice by offering responsive, effective and commercial advice. Stuarts is a listing agent for the Cayman Islands Stock Exchange.

Main Areas of Practice:

Banking & Asset Finance:

The banking team advises on all aspects of banking and asset finance including; asset sales, the establishment and licensing of banks and other financial institutions, securitisations, financing structures and the financing and registration of aircrafts and vessels.
Most notably in 2020, the team:
■ Continued to provide one of the world’s largest banks with regular and comprehensive advice in connection with the provision of products and services to customers in the Cayman Islands on a cross-border basis
■ Continued to advise several global banks in connection with the Cayman Islands legislative framework surrounding the provision of their services on a cross-border basis
■ Continued to advise a large group of captive managers on the facility agreements between their captives and their banks

Capital Markets & Structured Finance:
The capital markets team advises on public and private offerings of equity and debt securities, bond issues and derivative transactions, commercial paper programmes, securitisations and other structured products. Most notably in 2020, the team advised on the refinancing of a multi-million-dollar credit facility and granting security for a hospital. Commercial Disputes & Litigation: Headed by Richard Annette, the commercial disputes and litigation team advises companies, funds, insurance institutions and high net worth individuals on a variety of commercial, company and insurance disputes as well as insolvency related matters. The team has particular expertise in corporate governance issues, directors’ duties and dealing with disputes concerning redemptions and suspensions as well as insurance related matters.
Most notably in 2020, the team advised and acted:
■ An on-going action against directors of a mutual fund for alleged breach of fiduciary duties and alleged dishonesty
■ Advising on multiple matters relating to directors’ duties
■ In defending winding-up proceedings brought against a mutual fund
■ In advising on various threatened winding-up proceedings arising from service of statutory demands
■ A share dispute relating to joint tenancy and survivorship rights
■ Multiple policy claims for various insurers
■ A company dispute involving constructive trusts
■ A proprietary claim in the context of a voluntary liquidation

Corporate & Commercial:
The corporate and commercial team is regularly involved in complex corporate transactions involving Cayman Islands companies and regularly advises clients on corporate restructurings, takeovers, mergers and acquisitions, schemes of arrangement, joint ventures and statutory mergers.
Most notably in 2020, the team:
■ Advised on the purchase of a cloud platform solutions business by a leading provider of procurement and financial process automation solutions
■ Advise a privately-owned group of companies in paper and packaging manufacturing and distribution of forest products; sponsors, boutique investment managers and private equity houses. The group is also involved in sports, entertainment and event management; construction and real estate development; private equity and venture investing; sustainability; and philanthropy
■ Advised on the establishment of many blockchain based entities including the issuance of tokens to fund the development of various businesses
■ Continued to advise Guggenheim Investments on all of their Cayman Islands investment and trading vehicles
■ Continued to advise Jetstream Aviation Capital in relation to their aircraft leasing business
■ Continued to advise CTMH Doctors Hospital, on all corporate and commercial matters including refinancing arrangements

Distressed Funds Services:
Headed by Chris Humphries, the distressed funds team has been instructed in connection with many of the largest fund insolvency events in the Cayman Islands, in recent years and the services offered include; advising funds and their directors on the winding down and restructuring of the funds’ affairs and the use of side pockets, the deregistration and liquidation of investment funds, disputes between funds and investors, and fund managers on their directors’ duties in connection with liquidity pressures and the merits and weaknesses of potential solutions.
Most notably in 2020, the team advised:
■ On the formal wind down of several funds and their restructuring
■ In connection with the purchase of certain assets and subsidiaries from a company in official liquidation in the Cayman Islands

Fund Launch Services:
Headed by Chris Humphries, the investment funds team advises fund managers on the set-up and establishment of a broad range of investment funds, private funds and limited investor funds in the Cayman Islands, including; development of a fund’s legal structure and formation issues, coordination with legal counsel and regulators, advising clients who utilise a wide variety of investment strategies and listing investment funds on the Cayman Islands Stock Exchange. The firm also advises funds focusing on blockchain technology, bitcoin or other cryptocurrency strategies and managers on their compliance with the economic substance requirements.
Most notably in 2020, the team advised on:
■ The establishment of several dozen funds registered under section 4(3) of the Mutual Funds Law as exempted companies, segregated portfolio companies and exempted limited partnerships
■ The registration of hundreds of private funds registered under the Private Funds Law
■ The registration of Limited Investor Funds under the Mutual Funds Law
■ The establishment and structuring of a fund to invest in information technology utilising smart contracts for equity/ debt conversions
■ The establishment of several fund platforms as segregated portfolio companies particularly in the cryptocurrency market
■ All ongoing requirements for a large European real estate investment management firm
■ The establishment of several liquidating trusts for dealing with the winding up of various fund structures

The insurance team can assist in all aspects of establishment, licensing, structuring, regulation and operation of insurance and reinsurance companies and captives as well as in respect of all forms of insurance related disputes.
Most notably in 2020, the team advised:
■ A leading insurance manager on a range of general corporate and commercial matters including facility agreements between the Captives and their banks; and amendments to the Captive constitutional documents
■ A leading US insurance manager on the establishment of a Cayman Islands presence
■ Multiple domestic insurance companies in a variety of claims and policy disputes

Private Client & Trusts:
The private client and trusts team regularly advises high net worth individuals and family offices on their trusts, investment structures and ancillary matters regarding their Cayman interests. In addition, we advise settlors and trustees in connection with the establishment, administration, restructuring and winding-up of private, charitable, purpose and commercial trusts. The firm also advises on the acquisition, registration and mortgaging of Cayman Islands vessels and aircraft.
Most notably in 2020, the team advised:
■ On the acquisition and registration of a private US $6.5 Million aircraft to be held in a Cayman company
■ On the acquisition and registration of a private yacht in the Cayman Islands to be held through a special purpose vehicle
■ On the creation of a discretionary trust for a high net worth individual

Private Equity:
The private equity team advises on all types of private equity fund structuring, transactions and exits.
Most notably in 2020, the team advised:
■ A large institutional bank on its portfolio of 20+ private equity funds (Total AUM of the group of funds is approx. US $1.5 Billion)
■ On several closed-ended partnership structures investing in the United States and globally
■ A leading firm on a group of over 20 private equity funds investing in global food brands
■ A leading aircraft private equity firm on its aircraft leasing business in the Cayman Islands
■ On the establishment of several new private equity partnerships to act as access funds for a large investment bank