Benjamin Bestgen joined Appleby as Associate in August 2016 after having qualified as solicitor and notary public with Brodies LLP, one of Scotland’s top tier commercial law firms. Ben completed an eight month secondment with HSBC Channel Islands & Isle of Man. During the secondment Ben gained considerable experience in handling a wide variety of corporate and retail banking matters, with a strong focus on risk assessment, project management, customer-service and commerciality.
He left the Channel Islands in February 2019 for Australia and New Zealand and re-joined the firm in October 2020. Ben is currently on his second secondment with HSBC Channel Islands & Isle of Man.
He advises on a broad range of corporate, finance and regulatory matters, including M&A, banking and wealth products, data protection, market abuse and financial crime, group restructurings and corporate governance.
Before graduating in law from the University of Edinburgh, Ben completed a Master of Arts at the institutes of philosophy, psychology and German literature in Frankfurt am Main, Germany.
He is fluent in English and German.
Ben enjoys writing and has contributed to a variety of professional publications on legal, commercial and jurisprudential issues. Ben is the author of an ongoing series of jurisprudential/philosophical primers on Scottish Legal News and its sister publication Irish Legal News.
Recent highlights have included:
Acting as Jersey counsel for the lenders in the provision of a £150,000,000 term loan facility and a £350,000,000 multicurrency revolving credit facility to the borrowers, construction specialists Breedon Group, in their acquisition of Belfast-based construction materials supplier Lagan Group. Particular advice concerned the Jersey aspects of the facility agreement and the Jersey security package.
Advising a global bank on updating their wealth product supply agreements for the allocation of AML/KYC obligations between the bank and the suppliers to minimize inconvenience to customers, avoid cost duplication and adhere to best practice.
Advising a global bank on the winding-down of the “closed safekeeping” service offering across all three Crown Dependencies, drafting the wind-down procedure and helping to implement and complete the project.
Advising the BVI-based owner of a Jersey-registered Princess 98 motor yacht on a deed of covenants and a €500,000 yacht mortgage in favor of a Cyprus-based lender.
As part of the Jersey team,advising PraxisIFM Group in relation to their listing on The International Stock Exchange and the associated placing of over GBP21.5m of ordinary shares, Ben advised in relation to due diligence, the prospectus, compliance with listing rules and the placing of the shares.
As part the Jersey team, advising a major UK insurer on an insurance business transfer of Jersey policies to the Isle of Man. Ben assisted with the drafting of the scheme, affidavits and supporting the Advocate acting for the representors in the Royal Court.
Advising a professional investment firm on Jersey merger law and options for an intragroup restructuring to facilitate regulatory compliance for the business’ expansion into Switzerland.
Selected legal publications include:
“Custody of digital assets” Scottish Legal News, 4 March 2020
“Sustainable Finance and Impact Investing” Scottish Legal News Annual Review 2018, 26 March 2018
“The question of substance” (together with James Gaudin, Partner, Appleby) – Connect Magazine, 1 February 2018
“Offshore Finance and corporate substance” in Scottish Legal News Annual Review, 28 February 2017
Country chapter “Jersey” in Global Legal Insights “Fund Finance 2017” (together with James Gaudin, Partner, Appleby), 16 February 2017
“Keep it simple, Sheriff” in PI Brief Update (together with Peter Demick, Partner, Brodies LLP), 29 June 2016
“The new data protection regulation. The times, they are changing” in Terralex (together with Grant Campbell, Partner, Brodies LLP), 5 January 2016
“#trademarkingthehashtag” in Scottish Legal News, 29 October 2015
“Supplies of IT services and customer insolvency – guarding the essentials” (together with Martin Sloan, Partner, Brodies LLP) in Scottish Legal News, 28 September 2015
“Selling votes – the future of corporate governance?” Scottish Legal News, 20 February 2015
University of Edinburgh (Scotland)
Goethe Universität Frankfurt am Main (Germany)