The new Channel Islands Lines (CIL) freight service, due to have its first sailing to Guernsey and Jersey from Southampton today, has been formed with legal advice from a cross practice team at Carey Olsen.
Carey Olsen senior associates Jeremy Garrood, James Willmott and Will Whitehead and of counsel Huw Thomas worked with Rockayne Limited (the funders) on the corporate, employment and property aspects of the company structure for Channel Island Lines.
The MV Huelin Dispatch Lift-On-Lift-Off vessel will run three return journeys a week between the islands and the UK, on the strategically important freight cargo routes, creating around 45 jobs, employing former staff where possible.
Huelin Renouf Shipping Ltd ceased trading last month with the loss of approximately 90 jobs after operating for almost 80 years.
Assets were bought from Huelin Renouf by a consortium of Jersey businessmen with the assistance of Associated British Ports. The transaction has been extremely quick to bring to fruition after only being in the pipeline since mid-August.
Mr Garrood explained: “This was a prime example of our local team applying its expertise across key practice areas including employment, corporate finance and property and expediting the transaction extremely quickly to bring about a deal which is integral to the operations of both Guernsey and Jersey.”
CIL Chairman Paul Sands said: “There was a significant amount of legal and regulatory work to complete. Carey Olsen’s professionalism and knowledge has assisted us to launch this new service quickly and helped us to secure this strategically important link for the island.”