The Channel Islands Stock Exchange (“CISX”), which is based in Guernsey, commenced operations in October 1998, since when it has approved over 4,000 securities for listing with a total market capitalisation of over US$50 billion. Some of the strengths of the CISX are competitive pricing, responsive and approachable market authority that meets daily to consider its applications for listings, a highly personalised approach, international standards of issuer regulation, enhanced marketability and added value service, as well as a premier location. This Factsheet summarises some of the important factors when considering listing Eurobonds on the CISX, CSX or LuxSE.

In September last year, the Royal Court of Jersey handed down what is now widely considered to be a landmark decision in Jersey trust law. Although the decision was handed down in September 2012, excerpts were only recently released to the public; this is due to the scarcity of judgments concerning the role – and removal – of the protectors of a trust. Katy Millington discusses more here.

Welcome to this month's Employment newsletter which includes articles on two hot and contentious subjects.

Colette Hunt's article provides some comments on the credibility of the Jersey Employment Tribunal in the light of a recent independent report, and Emma Parr highlights the 'TUPE issue' as she considers the on-going and longstanding dispute between Unite the Union, on behalf of the bus drivers in Jersey, and their new employer, CT Plus.

Welcome to the latest edition of Fiduciary News.

It has been a very busy first quarter for our Fiduciary Teams in the Channel Islands - particularly in respect of the establishment of new fiduciary structures which is very encouraging for the islands as a whole and marks a significant change from last year where the trend seemed to be restructuring or collapsing of existing structures.

The new Foundations and Image Rights offerings have already started to gain momentum with several registrations in Guernsey in the first quarter.

Our recruitment of Ed and Angela to join Karen in Guernsey last year has meant a dramatically increased workload so Bethan Boscher joined the Guernsey Fiduciary Team in January.

Finally, industry recognition continues for our fast growing Fiduciary Team with last year's STEP and Citywealth nominations being closely followed by our recent Citywealth nomination for 'International Law Firm of the Year' and several senior members of the team being recognised as industry leaders (Ed, Mason, Angela and myself).

If you have a few minutes to spare we would be really grateful for your vote for the Citywealth award.

                  Please click here  to vote for Collas Crill.

Thank you for your support.

Yours,

Kathryn Purkis

The inheritance laws in Dubai remain uncertain for non-Muslim ex-pats residing in the region. As a result, estate planning is far from straightforward and, in this article, Angela Calnan looks at the problematic legal framework and some possible estate planning solutions.

New tax exchange agreements announced by Jersey and Guernsey as fight against tax evasion continues; HMRC leaves no stones unturned. Ed Stone explains.

What is a serious mistake? The Guernsey Court has recently reinforced just how serious a mistake must be before they will consider setting aside a disposition into a trust on the grounds of mistake in Devan and MD Events v Concept Fiduciaries Ltd & Others. In this article Bethan Boscher explains.

The Jersey Court of Appeal has clarified the position regarding costs in non-adversarial trust applications to the Court both at first instance and on appeal. This decision is relevant to any Trustee considering making an application to the Court and gives them some guidance as to how their costs may be treated. James Tee explains how in this article.

Collas Crill are delighted to have been shortlisted for International Law Firm of the Year in the 2013 Citywealth Magic Circle Awards.

Each year the Citywealth Magic Circle Awards brings together leading law firms, trust companies, family offices, tax advisors, investment managers and bankers in the wealth sector to recognise the achievements of the industry during the past year. 

The awards are judged by an eminent panel of leading individuals. However, an online vote carries the weight of one additional judge.

As such, we would really appreciate your support by kindly considering casting your vote in favour of Collas Crill for this award. Votes close on Friday 26 April 2013

Thank you for your support.

<Click here to vote for Collas Crill>

The UK government has been busy drafting new proposals for developing the hotly debated topic of parental leave following the results of last year's public consultation: "Modern Workplaces". The proposals will soon see the implementation of the Children and Families Bill 2013 which intends to radically overhaul the current laws on parental leave, as Emma Parr explains in this article.

It is widely understood that an employment contract, unless otherwise agreed, cannot be immediately terminated simply due to a change of heart or perhaps a sudden desire to pack up and travel the world. But what happens when either party could give say, three months' written notice to terminate the employment contract in the normal way, but the employer could elect to make a payment in lieu of notice ('a PILON') to terminate the employment contract immediately? In this article, Simon Hurry discusses whether this makes a termination effective?