Ogier advises on Whistlejacket Merger

Ogier has acted as offshore counsel, working alongside Linklaters in London, on the merger between Whistlejacket Capital and White Pine Corporation in what is understood to be the first merger of two Structured Investment Vehicles (SIVs). The new merged entity, called Whistlejacket Capital Ltd, will have close to US$18bn assets under management by Standard Chartered Bank.

Chris Byrne, partner and head of Structured Finance at Ogier stated: “This is a ground breaking deal and one which we were particularly pleased to be advising Standard Chartered Bank on.  The merger of the two SIVs was possible as a result of the Jersey statutory merger provisions and is further evidence of Jersey’s high profile in the asset backed commercial paper and SIV arena.” 

David Jackson, Head of Structured Credit Investments at Standard Chartered Bank added: “The new Whistlejacket will be better positioned within the SIV market to service its investors, increasing its frequency of issuance and giving investors access to a larger, more granular portfolio. We are grateful to Ogier for providing first class advice on the offshore legal aspects of the merger”

The merger of Whistlejacket Capital and White Pine Corporation completed on 15th June 2007.