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Leading offshore law firm, Mourant Ozannes, has again set the standard in Jersey by producing the market-standard security agreement for the Jersey Bankers Association (JBA), on a pro-bono basis. Local banks can use the new JBA documentation to save time and expense when lending to clients on a secured basis from 2 January 2014, the date Jersey's new security regime comes into force.
Leading offshore law firm, Mourant Ozannes, has again set the standard in Jersey by producing the market-standard security agreement for the Jersey Bankers Association (JBA), on a pro-bono basis. Local banks can use the new JBA documentation to save time and expense when lending to clients on a secured basis from 2 January 2014, the date Jersey's new security regime comes into force.
Mourant Ozannes partner John Rainer was praised for "his tireless efforts" over the past two years in putting the JBA precedent together.
Richard Ingle, President of the Jersey Bankers Association said, "The JBA precedent will help to provide a much greater uniformity of approach than would have otherwise been the case. We can now expect a more common market practice with much less incidence of error as result of the precedent".
Geoff Cook, CEO of Jersey Finance said, "Industry has worked very hard to produce a simplified, efficient and modern regime for the creation of security interests, and John Rainer has been instrumental in creating a precedent to help our banking industry implement the new law."
"For John's first-class efforts to have received so much praise and gratitude from the JBA and others is very welcome. At Mourant Ozannes we pride ourselves on delivering an exceptional service. John has done an excellent job and we are proud of his achievement and the widespread recognition he has received from industry", said Jonathan Rigby, Global Managing Partner of Mourant Ozannes.
John also drafted the Guidance Notes for the new on-line Security Interests Register. Julian Lamb, Deputy Registrar of Companies, said, "John has been involved in developing the Security Interests Register and he has gone to great lengths to produce a clear and comprehensive set of Guidance Notes."
This week also saw the publication of Chambers UK, one of the leading guides to the world's best lawyers and law firms, where Mourant Ozannes maintained its top tier position across the Channel Islands. "They are the heavyweight in Jersey corporate and finance" quoted one client.
