Appleby has advised HSBC on the transfer of its banking businesses in Jersey and Guernsey.
The businesses of HSBC Bank International in Jersey and HSBC Private Bank (CI) in Guernsey were transferred on 1 October 2017 into the respective Jersey and Guernsey branches of HSBC Bank, pursuant to a scheme in each jurisdiction that has received court sanction.
This is the first court-sanctioned scheme of this kind in Guernsey. Appleby has previously advised on all recent similar court-sanctioned schemes in respect of deposit-taking business in Jersey.
The Channel Islands team consisted of Partners James Gaudin, Wendy Benjamin, Michael Cushing, Kate Storey and Anthony Williams, supported by Associates Angharad Southern, Tom Fothergill, Nele Bhebhe, and Legal Assistant Emily Ashford.