IFLR 1000
The Guide to the World's Leading Financial Law Firms

	Appleby Law Chambers of Francis Chang-Sam Law Chambers of Kieran Bhogilal Shah Pardiwalla Twomey Lablache
	Chetty & Hoareau Chambers Frank Ally Intershore Chambers

Since the early 1990s, the Seychelles has been taking steps towards establishing itself as an offshore centre. Though the economy is still dominated by fishing and agriculture, a steady trickle of legislation enacted in the last two decades, such as the International Business Authority Act and the International Business Companies Act, has gradually pulled the jurisdiction that little bit closer to the other major offshore centres.

Since 2008 the country has had legislation governing hedge funds and plans are underway to form a national stock exchange which would add yet another string to its bow.

The presence of international firm Appleby is also a sign that the jurisdiction is growing in stature and while the market is probably not large enough to support any other of the main offshore brands, it is a good sign of maturity.

The country can also point with pride to its status on the 'white list' of the OECD, a status not afforded to all offshore centres and one that can give confidence to potential investors.

Most of the firms on the island remain relatively small outfits consisting of one or two practitioners and like near neighbour Mauritius, the lines are often blurry between commercial firms and chambers with most practitioners acting in all capacities.

As the only recognised international firm present in the Seychelles, Appleby is in a good position to take a lion's share of mandates with a cross border element.The firm does of course also benefit from its substantial network and the office is often drafted in to advise on the Seychelles aspects of substantial international transactions.... [more]

As the only recognised international firm present in the Seychelles, Appleby is in a good position to take a lion's share of mandates with a cross border element.

The firm does of course also benefit from its substantial network and the office is often drafted in to advise on the Seychelles aspects of substantial international transactions.

One such example saw lead partner Malcolm Moller act on the Seychelles aspects of a €105 million senior secured loan granted by the European Bank for Reconstruction & Development (EBRD) to Russian company JSC Oil and Gas Systems.

Another substantial mandate saw the team acting for a bank consortium including Crédit Agricole, Mizuho, Standard Chartered and Sumitomo as lenders in regard to a €466 million leveraged financing to Thai Union Frozen Products for the acquisition of MWBrands Holdings. Following the acquisition, the combined company becomes the largest canned Tuna producer in the world.

A final finance deal saw the team acting for the Singapore branch of Credit Suisse on a credit facility to Gold Crest Capital a subsidiary of the April International Group.

On the capital markets front, the team was active for PT Recapital Advisors on the IPO of its subsidiary PT Berau Coal Energy (BCE) on the Indonesian stock exchange. The issue is an attempt to raise capital for the expansion of mining operations.

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One of the country's many solo practitioners Francis Chang-Sam is dual qualified in both London and the Seychelles.A former Attorney General, Chang-Sam is held in high esteem in the market and advises on a wide variety of matters including financial and corporate work alongside IP, tax and litigation.... [more]

One of the country's many solo practitioners Francis Chang-Sam is dual qualified in both London and the Seychelles.

A former Attorney General, Chang-Sam is held in high esteem in the market and advises on a wide variety of matters including financial and corporate work alongside IP, tax and litigation.

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Name partner Conrad Lablache is the key figure at Pardiwalla Twomey Lablache and he was involved in some notable transactions last year.One of the largest saw the team advise ICICI Bank of Singapore on a $100 million loan transaction.... [more]

Name partner Conrad Lablache is the key figure at Pardiwalla Twomey Lablache and he was involved in some notable transactions last year.

One of the largest saw the team advise ICICI Bank of Singapore on a $100 million loan transaction.

The team also worked on further loan deals for the Asian Branches of BNP Paribas on transactions to Seychelles companies and the International Finance Corporation (IFC) in conjunction with the Kazakh group Borets on a lending deal.

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