ADVISING GUERNSEY ENTITY IN SETTLEMENT OF DISPUTE WITH UK PRIVATE EQUITY FUND FOR INVESTMENT IN LARGE CROATIAN MARINA RESORT DEVELOPMENT THROUGH A MALTESE LEGAL ENTITY
LLB acted as legal counsel to a Guernsey entity that had investment in excess of 18 million GBP in a Croatian marina resort project in Dugi Rat, Croatia and related second land development project on Hvar island, Croatia. Those projects were valued in excess of 250 million Euros. A dispute arose between the private equity fund, a related Cayman legal entity and the Guernsey entity which was ultimately resolved through a negotiated settlement led by LLB whereby the Guernsey company gained 100% control of the Maltese legal entity and two Croatian investment projects in exchange for the private equity firm agreeing to become a secured lender with a 30-month term of repayment in order to allow the investment to proceed. Multiple parallel proceedings were also addressed by LLB together with local counsel.