Appleby Law Firm Advises KeyTech On Sale

October 12, 2014

Appleby acted as Bermuda counsel to KeyTech Limited and its subsidiaries in connection with the sale of its wholly-owned subsidiary The Bermuda Telephone Company Limited [BTC] and the purchase by its Cayman subsidiary, WestTel Limited, of BOTCAT Holdings Ltd., the Cayman holding company for the WestStar TV group, which has provided KeyTech with a majority shareholding in Cablevision.

Steven Rees Davies, Counsel at Appleby stated: “This transaction was complex and ambitious from the start. The complete breadth of Bermuda corporate law, including the Bermuda Stock Exchange Regulations to property holding powers and from electronic communications law to exchange control regulations, and the number of parties involved over the two separate yet inextricably linked transactions created a unique complexity that required immense coordination and cooperation by all involved.

“The parties had to manage and deliver in the face of various challenges from a legal and regulatory perspective that was dependent upon numerous regulatory and legal authorities in both countries. It was a great opportunity to bring together a wide spectrum of expertise across a variety of professions, including lawyers, accountants and bankers, and deliver a successful completion in what was a very short time period for such a project. We managed to complete both transactions within a period of approximately three months. The deal is testament to the quality and expertise of all of the lawyers, accountants and bankers in Bermuda and Cayman that made these transactions happen.”

Appleby provided Bermuda legal services in connection with the transaction. The Appleby team was comprised of 14 lawyers across four practice groups and was led by Steven Rees Davies, Counsel, Corporate & Commercial.

Lawyers who worked on the transaction include: Corporate & Commercial – Partner Tonesan Amissah, Associates Jean-Paul Dyer, Jerome Wilson, Tiffany Boys, Nicholas Champ and Stacy-Ann Maharaj; Property – Partner and Bermuda Group Head of Property, Scott Swainson; Private Client & Trusts – Partner and Bermuda Group Head of Private Client & Trusts, Vanessa Schrum, Counsel Michael Mello QC and Senior Associate Ashley Fife; Litigation & Insolvency – Partner John Wasty, Senior Associates Michael Hanson and Martin Ouwehand. Sherman Taylor, Account Manager, Appleby Management was the lead advisor on BSX matters.

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