The amended law, which came into force last September, creates a newly simplified process for corporate restructure.
The merger was a complex procedure involving 40 corporate structures in three jurisdictions for the Standard Bank Offshore Group.
The result was a streamlined corporate structure with only six active trading entities.
Jersey commercial law partner Wendy Malorey, who led the Mourant team responsible for the process, said: ‘The new statutory merger provisions enable such restructuring to take place in a straightforward way.
‘Many financial services groups operating in Jersey have evolved over time through mergers and acquisitions, often resulting in an unwieldy corporate structure with too many corporate entities to manage.
Until now, the legal process required to streamline these structures was too complex and lengthy, which has put many businesses off any such attempted restructuring.
I think that the new merger provisions will be an enormous help to businesses in Jersey and are a very important asset in our statutory framework.
