The Financial Services Commission (FSC) has on 6 November 2020, by way of a Circular Letter referenced as CL061120 repealed the March 2012 Code on the Prevention of Money Laundering & Terrorist Financing until the issuance of any additional enforceable Anti Money Laundering / Combatting Terrorist Financing (AML/CFT) requirements.
We offer the full range of corporate services, assisting with all issues that can arise throughout an organization's lifecycle – from incorporation to insolvency.
We act for a wide range of domestic and international clients: startups, small and medium enterprises, and large multinationals. From mergers and acquisitions (M&A) and venture capital to private and public equity and debt offerings, we assist clients through all stages of their transactions to ensure successful deal outcomes.
Our clients benefit from a valuable combination of global insight and local knowledge that allows us to handle all aspects of complex domestic and cross-border corporate transactions. Understanding the industry and the day-to-day issues faced by our clients is critical to our success.
Our corporate practice provides legal advice and litigation support on the following matters:
- Mergers and acquisitions
- Structuring and advising private equity
- Shareholders' rights and remedies, shareholders' agreements
- Share terms of issue, distribution of shares, minority buyouts and pre-emptive rights
- Corporate advisory services, ranging from corporate governance to regulatory compliance
- IPOs and other public offerings on the Mauritius Stock Exchange
- Local and international trade issues
- Commercial litigation
- Drafting and advising on corporate documents and commercial transactions
Our capital markets lawyers represent issuers and underwriters in public equity and debt capital transactions, including initial public offerings (IPOs) and follow-on offerings; rights offerings and listings.
We offer integrated securities advice on complex transactions to issuers, underwriters, selling shareholders, sponsors, arrangers, lead managers, originators, dealers, trustees and depositories on a broad range of securities offerings.
Our lawyers are strategically positioned to serve and support emerging growth companies and venture capital and other institutional investors wherever they do business.
Our clients include founders, entrepreneurs, startups, emerging growth companies, whether in the technology, life science, healthcare, consumer goods or media and entertainment industries, and angel and venture capital funds, corporate strategic investors and other institutional investors with their venture capital or other strategic transactions.
Our lawyers advise on all types of investment funds, from real estate funds, private equity funds and infrastructure funds to hedge funds and fund structured products.
In Africa and across the world we provide a dynamic, integrated service to sponsors, fund managers and institutional investors, supported by our international tax and regulatory networks.
We advise clients about the full spectrum of private investment funds, all major investment strategies and all stages of a private investment fund's life cycle.
Our experience also includes providing dedicated advice on the day-to-day operations of funds established in Mauritius, drafting documentation and advising on due diligence projects, acquisitions, financings and listings.
Experience has included advising:
- Agence Française de Développement in connection with an issue of shares and share exchange involving the African Guarantee Fund Ltd - for SMEs, a fund incorporated in Mauritius and the Fonds de Garantie des Investissements Privés en Afrique de l’Ouest.
- OPIC in respect of an investment in Somerset Indus Healthcare Fund II, a closed end fund targeted to invest in India.
- An Indian fund manager on the Mauritius law implications of exits of its Indian investments.
- Two Mauritian-based funds on different aspects of corporate and financial services laws in relation to disputes with the shareholders and the investment manager respectively and further appearing for the funds in litigations before the Judge in Chambers and the Commercial Division of the Supreme Court.
Our lawyers' experience allows us to execute cross border deals seamlessly while supporting you across all stages of the transaction and offering you cost-effective, pragmatic business solutions. We have represented private and public buyers and sellers and have been engaged in both domestic and cross border transactions.
We guide our clients through every stage of a deal, from due diligence and structuring, to negotiation and preparation of deal documents, to post-transaction transition and post-merger integration.
Our lawyers have the market knowledge and exposure to help you achieve your goals throughout the investment life cycle.
We assist our clients through all stages of the private equity life cycle to achieve their business objective.
Our clients benefit from the breadth and depth of our private equity experience and our key sector-based legal experience.
Our lawyers are trusted advisors to leading and emerging companies and government entities on corporate governance matters, providing strategic advice and guidance.
Our advice spans implementing new governance statutes and rules and regulations to auditing compliance and evaluating disclosure issues as well as investigating allegations of wrongdoing or responding to civil, administrative or criminal actions.
Experience has included advising:
- Venture Capital Fund in its investment in a Mauritius based Fintech Company. We have reviewed the company’s constitutive documents, reviewed the subscription agreement, the shareholder’s agreement and advised VCF on the legal aspects of the transaction.
- IBL Ltd in connection with the takeovers of Lux Island Resorts Ltd and of Blue Life Ltd. The two biggest takeovers of 2018 in Mauritius.
- PLUM LLP, a limited liability partnership registered under in Kenya, in connection with the purchase by Plum LLP of shares held by British American Kenya Holdings Limited in Britam Holdings Limited.
- A large local conglomerate in a due diligence exercise on not less than 8 companies listed on the Stock Exchange of Mauritius. Physical searches into the files of the companies as well as carrying out searches at the Registrar of Companies, the Registry of the Supreme Court; the Industrial Property Office and the Data Protection Office.
- A company providing mobile commerce solutions in rural Africa. The company, headquartered in Kenya, is currently doing a seed funding for which we are advising the company on the structuring and legal documentation.
- A leading information technology consulting company in Seychelles with regards to debt recovery matters.
- Tier 1 in Finance & Corporate (IFLR1000 2019)
- Band 2 (Chambers & Partners Global)
- Tier 2 (The Legal 500)
Maurice a pris des mesures importantes pour s’assurer qu’elle dispose d’un cadre juridique solide et qui est conforme aux normes internationales. La Financial Intelligence & Anti-Money Laundering Act (FIAMLA) a été promulguée en 2002 et prévoyait plusieurs exigences clés d’un système solide pour la lutte contre le blanchiment d’argent et le financement du terrorisme.
P2P lending has, worldwide, been hailed as an innovative solution that democratises financing. Start-ups and small entrepreneurs have typically relied on bank finance to grow. But they present risks that banks are not always prepared to take — at least not cheaply. Online platforms that connect borrowers directly with investors bypass the problem of getting bank financing.
The Court of Civil Appeal of the Supreme Court of Mauritius has recently opined in the case of Essar Steel Ltd v Arcelormittal USA LLC [2020 SCJ 191] that the directors of a company, which has been placed in administration retain no residual power to initiate proceedings on behalf of the company.
The Finance (Miscellaneous Provisions) Act 2020 has amended some 70 pieces of legislation so as to implement the measures set out in the Budget 2020 2021. The Act came into force on 7 August 2020.