About Lexstone’s Legal Bite

We are delighted to provide you with the first edition of Lexstone's Legal Bite for our clients and professional intermediaries. The purpose of Lexstone’s Legal Bite is to give a quick update on the latest news at Lexstone Lawyers and significant matters of Jersey and Panamanian law that may interest you.

About us

Lexstone Lawyers is a pure law firm specialising in investment funds, commercial law, banking, private wealth, financial services, employment, environment and intellectual property. Our first edition welcomes Claudia Martans, a Panamanian attorney at law, Katie Nelson, a personal assistant and Emma Harper, a financial administrator, to the firm. It also provides an update on our practice areas in Jersey. Further details can be found at our website: www.lexstone.je.

Lexstone Lawyers welcomes Claudia Martans

We are delighted to announce the appointment of Claudia. Claudia is a second generation Panamanian qualified lawyer, whose parents were both qualified lawyers in Panama (with one of them being a professor of law). Claudia is the first Panamanian lawyer practicing within Jersey.

Lucy Egerton-Vernon, a founding partner of Lexstone Lawyers, commented “We are very fortunate to welcome Claudia to our firm. We are already seeing interest from local businesses for Panamanian legal advice from within Jersey”.

Claudia was admitted to the bar of the Republic of Panama in 1995. She has over twenty years’ experience advising clients such as the United Nations, the European Union and Coca-Cola.

As a result of Claudia’s appointment, Lexstone Lawyers has achieved a double first in offering environmental law from within Jersey with Panamanian capability.

Katie Nelson and Emma Harper join Lexstone Lawyers

Katie Nelson has joined the firm as a personal assistant and secretary. Katie has previously been the personal assistant to the managing director of a trust company business and a personal assistant and secretary to a corporate partner at Mourant Ozannes.

Emma Harper has joined Lexstone Lawyers as a financial administrator and will be responsible for handling the finances of the practice.

Lucy Egerton-Vernon commented: “We are very pleased that both Katie and Emma have joined us. Both ladies will play invaluable roles in our support team”.

Transaction legal opinions

We are now able to offer both Panamanian and Jersey transaction legal opinions for all types of Jersey and Panamanian entities. For clients with regular legal opinion requirements, we are able to offer a highly competitive streamline service. In most cases, legal opinions will be able to be issued within 48 hours of receipt of the requisite constitutional and transaction documents.

Health Warning

At times, Lexstone’s Legal Bite will provide a health warning where it has become aware of bad practice within the local business community and / or finance industry that may require remedial action. It is not intended to panic readers, but prompt them into action.

Intellectual property clauses are often overlooked in various commercial agreements being used in Jersey. Such clauses are often out of sync with the intention of the parties. Unfortunately, these clauses must be clearly drafted setting out who owns the work in question.

If you would like to conduct a health check on these clauses or have any other queries, please contact Agnieszka Bielanska in the first instance at agnieszka.bielanska@lexstone.je.

Panama

Panama has been very much in the news lately. There is a serious risk that it could tarnish all international finance centres. As usual, the journalists have been very selective in what they have reported. Mossack Fonseca is neither a regulated financial services business in Jersey nor a law firm, it simply has a representative office. Its presence in the UK is somewhat more significant.

Cases of interest

Although Lexstone Lawyers is a purely non-contentious practice, we regularly monitor cases of interest in our core practice areas and will bring cases of significance to your attention.

Representation of Investec Bank PLC – 26 November 2015

Siena SARL – v – Glengall and Others – 16 December 2015

SWM Ltd – v – Jersey Financial Services Commission and AG 21 January 2016

Tepe Insaat Sanayii AS – v – Botas – 19 January 2016

Investec – v – Booth – 27 January 2016

Regulatory news

AML / CFT Handbook Appendix D1 and D2 Updated

Iran sanctions update – 22 January 2016

The JFSC publishes an update on Iran sanctions. Caution is still required with some import and export restrictions in place. Specific legal advice is recommended when considering any transaction involving any connection with Iran to ensure compliance with local law.

Memorandum of understanding – 20 January 2016

The JFSC signs memorandum of understanding with Jersey Ombudsman.

Channel Islands Securities Exchange – 19 January 2016

400 securities listed on the Channel Islands Securities Exchange.

LEXSTONE LAWYERS
17 The Esplanade
St Helier
Jersey JE2 3QA
Channel Islands

Contact us: lexstoneslegalbite@lexstone.je

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