Selected Major Transactions


The following list is a representative selection of major transactions in whch Saunders & Co's involvement is a matter of public record.

CLIENT
TRANSACTION
YEAR
Royal Reef Resort Representing a Chinese developer on the acquisition, from a Mortgagee, of a partially completed 19.34-acre resort development at Sandy Point, North Caicos, structured as a transfer of absolute title to the land along with a transfer of the remaining debts and security interests. 2017-18
12-story (and 150 ft) development Successful initiative for legislative changes permitting greater intensification, increasing the permitted height of buildings from 7 stories (and 90 ft) to 12 stories (and 150 ft), from 25 bedrooms an acre to 50 bedrooms and acre, and from one parking space per three bedrooms (or per condominium unit) to 0.75 spaces per three bedrooms (or per condominium unit), a measure to enhance economies of scale and attract successful European plan hotels to the jurisdiction. 2012-15
TYCO, Inc. Retained to review and advise on a standardized contract for the delivery of security monitoring services in the region. 2014
Jas Hennessy & Co Retained to review and advise on an exclusive distribution agreement for the group’s line of products to a local retailer. 2014
42 Unlawfully detained persons • Retained to represent 42 persons that were unlawfully detailed by the Royal Turks & Caicos Islands Police Force, in breach of their constitutional right to freedom. Liability was conceded after lengthy negotiations, with negotiations over the quantum of damages. 2013-14
Borrower Providing collateral support for a US$200M multicurrency, multi-jurisdiction, syndicated senior secured credit facility, in support of the reorganization of a pan-Caribbean retail group. 2012
Lehman Brothers Holdings Inc.

$25 Million variation to the security documentation and loan terms for the Ritz Carlton, West Caicos.

2008

Shareholders: Ambergris Cay Ltd. and Ambergris Cay Developments Ltd.

$39 Million management buyout of the shareholders in the Turks & Caicos Sporting Club at Amergris Cay, a private Island development.

2008
Hubbard Northwest Ltd.
TCI Bank Limited
Lehman Brothers Holdings Inc.

104 acre purchase of land at North West Point, Providenciales. One of the largest property acquisitions in the TCI in the last twenty years.

2006
Lehman Brothers Holdings Inc. $127 Million construction loan financing for the Ritz Carlton, West Caicos. The largest loan to an entity engaged in business in the Islands. 2006
TCI Bank Limited

Advising on the regulatory aspects of raising capital from the public and advising on and arranging the issuance of Government bonds.

2006
Lender

Advising the former owner of Dellis Cay on the security aspects of vendor financing on the sale of that Island.

2006
Hewlett Packard, Inc.

Representing Hewlett Packard on a C$156M fraud, the largest fraud in Canadian history, where proceeds of the fraud were invested in real estate in the TCI.

2006

SodalcoDevelopment Company Limited (The Seven Stars)

$25 Million loan from First Caribbean International Bank (Bahamas) Limited. The largest loan by a locally operated bank to the largest resort development on Providenciales.

2005
Butterfield Gold Ltd. Sale of Treasure Beach Resort, Grace Bay to the Sandals Group. 2005

AT& T Wireless, Inc. & Cingular Wireless, Inc.

Representation of AT&T Wireless Inc. and Cingular Wireless Inc. on their application for a telecommunications license during Government's deregulation of the 100+ year telecommunications monolopy. The firm was retained only after it became clear that Government would be limiting the number of new licences and after our client's correspondence and calls were not being enthustically received. The firm was pivotal in changing Government's policy and securing Government's approval of a license for AT&T Wireless (then Cingular Wireless).

2005

Barclays Private Bank Limited

Advising Barclays Private Bank Limited on the security for a $260 Million loan to globally operating, but TCI regulated insurance company.

2002