Williams & Connolly LLP and Ogier advised Carlyle on the dispute
The Carlyle Group was exonerated in a $2 billion action pending in the Royal Court of Guernsey involving the collapse of Carlyle Capital Corporation (CCC), a $23 billion entity sponsored by Carlyle. The company, which invested almost exclusively in guaranteed government-backed securities, became insolvent at the peak of the 2008 financial crisis, igniting lawsuits against Carlyle on three continents. Claims were filed or threatened to be filed against Carlyle in Guernsey, Kuwait, the Netherlands, Massachusetts, Delaware, Washington D.C., and New York.
On 12 April, Guernsey’s Court of Appeal has upheld the judgment that none of the US investment firm The Carlyle Group, its investment manager, Carlyle Investment Management LLC, or the directors of Carlyle Capital Corporation, were responsible for Carlyle Capital Corporation, a Guernsey investment fund, going into insolvency in the 2008 financial crash.
In Guernsey, Ogier advised The Carlyle Group and Carlyle Investment Management with a team led by Simon Davies (Picture).
Ogier was instructed by Williams & Connolly LLP.
Williams & Connolly team representing Carlyle and its directors included Bob Van Kirk, Hack Wiegmann, Sarah Teich, Jessica Richard, Sarah O’Connor, Jonathan Pahl, Yifan Wang, Luke McCloud and Michael Goldsticker.
Involved fees earner: Simon Davies – Ogier LLP; Sarah Lochner O’Connor – Williams & Connolly LLP; Luke McCloud – Williams & Connolly LLP; Jonathan Pahl – Williams & Connolly LLP; Sarah Teich – Williams & Connolly LLP; Robert Van Kirk – Williams & Connolly LLP; Yifan Wang – Williams & Connolly LLP; R. Hackney Wiegmann – Williams & Connolly LLP;
Clients: Carlyle Group;