O’Neal Webster advised The Bank of Nova Scotia, a leading bank in Canada and leading financial services provider in the Americas, on the sale of its British Virgin Islands operations to Republic Financial Holdings Limited. The O’Neal Webster team was led by Partner Christopher Simpson (corporate, banking, and regulatory) based in the firm’s BVI office, with support from Partners Vanessa King and Kerry Anderson (corporate, banking, and regulatory) based in the firm’s BVI and New York offices respectively. BVI-based Managing Associate Jenelle Archer (property and business), assisted in the property aspects of the deal. The transaction closed on May 31, 2020, after securing prior regulatory approval from the BVI Financial Services Commission. The O’Neal Webster team worked alongside Osler, Hoskin and Harcourt LLP and Scotiabank’s in-house legal team.
Simpson stated: “We are delighted to have assisted Scotiabank, meeting all their requirements and producing a successful outcome for this important deal. Our firm’s experience in corporate, banking, property, and regulatory matters allowed for a seamless, efficient transaction.”
“O’Neal Webster and Scotiabank have enjoyed a long-standing client/service provider relationship,” explained O’Neal Webster Managing Partner Vanessa King. “Our knowledge of the bank’s institutional priorities, people, and goals, along with our significant experience in the banking and regulatory sectors were pivotal ingredients that contributed to the successful deal. I join in congratulating everyone involved and welcome Republic Bank to the BVI.”
O’Neal Webster is a noted legal services provider in the BVI and beyond. The firm is highly regarded for its capabilities in high-value, complex transactions involving corporate, private equity, investment funds, mergers & acquisitions, joint ventures, and statutory arrangements.