PCC Book Preview by Nigel Feetham
The 2nd Edition of "Protected Cell Companies: a guide to their implementation and use" co-authored by Nigel Feetham (pictured) and Professor Grant Jones will be available shortly. Nigel Feetham, partner at Hassans International Law Firm, said "I have spent the last few months working on this 2nd Edition and I am extremely pleased with the book. I hope all professionals in this industry (local and international) will reap the benefit of this work and that the book will contribute to the existing prestige of Gibraltar as a financial services centre."
The 1st Edition was published In February 2008 and became the first book ever released on the subject of Protected Cell Companies. The 2nd Edition continues to be a valuable resource for practitioners who work with this important new business form. The Protected Cell Companies Act was first introduced in Guernsey in 1997 and other jurisdictions have followed this path. This gave rise to the 1st Edition which contained the legal analysis essential to further use and development. The book provides comprehensive guidance on such complex issues as insolvency, veil-piercing, tax, and accounting. As lawyers and business people have come to understand the PCC, its uses have spread from its origins in captive insurance companies to providing a bankruptcy remote vehicle for special purpose vehicles, credit derivatives, and open-end investment companies.
The authors show that PCCs are now widely used by insurers, insurance brokers, banks, investment and fund managers and international tax planning advisers. They also describe the use of PCCs and related devices not only in their originating jurisdictions but in the EU, the US and around the world.
The book has received external praise from leading UK insolvency QC Gabriel Moss who states “This new work is a thorough and much needed review and analysis of all aspects of a complex subject by knowledgeable authors. It is an essential reference for anyone dealing with a PCC.”
The new edition contains substantial additions but with the same practical emphasis of the original work. The Foreword for the 2nd Edition is from Professor Larry E. Ribstein, University of Illinois College of Law, a leading US academic, who writes: “This book, particularly in its new edition, is both a valuable tool for the practitioner and important grist for the academic. It is certainly rare in combining these features and should enjoy great success.”
See: http://www.spiramus.com/protected_cell_companies.htm
