Lisa Vizia
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To this I would add that she is result-orientated as well as professional and in a particular matter I think I should mention, not only was the result achieved but the court that sanctioned it (the Chief Justice of the Cayman Islands) commended Lisa and her team for their "textbook approach" to handling a highly valuable as well as complex international trust administration matter. The praise was richly deserved as Lisa oversaw not only the transition that the court approved but years of previous administration of a very extensive international structure. In short, Lisa certainly deserves recognition as an industry leader and I am well aware that many others in the industry take the same view.
Lisa has a genuine passion to learn about her client's interests and as a result she is very knowledgeable in a wide variety of markets and industries. Lisa has unparalleled experience with families in the Gulf making her a very safe pair of hands.
Lisa provides a great deal of support to her clients and to her professional advisors in keeping them up to date on changing legislation and in-depth industry knowledge, going above and beyond to provide the best service.
As well as providing an excellent service, Lisa and her team are approachable and a joy to work with.
Case Studies
Managing a multi-billion dollar trust for a prominent Middle Eastern family
Lisa Vizia manages a multi-billion dollar trust structure for a single family office for a prominent Middle Eastern family. Her team works in partnership with the client‘s family office and deal with the entire affairs of the principal, and other family members, adding value by offering strategic input to the overall position of the client.
They manage all the client‘s global investment assets, which comprise hedge funds, private equity, fixed interest investments, commercial and residential property and hotels/hotel developments in Europe and South Africa. They also dealt with the client‘s luxury personal assets, including private residences, superyachts and aircraft. This has involved the acquisition and development, building, operation and staffing of such luxury assets.
All of the above assets were structured within multiple trusts and numerous companies across many jurisdictions where the firm acts as trustee and directors who actively manage and administer the underlying assets.
The team also provides consolidated financial reporting services to the family office, as well as investment monitoring on a risk adjusted basis for the various asset classes and regularly participates in round table discussions with the trusted advisor for the family.
Shari‘a Trust and Estate Administration with assets over USD6 billion
Following the demise of a family patriarch of a Middle Eastern dynastic family, Lisa and her team worked with the Family Office and Trusted Adviser in reconciling and reporting all assets of a multi-billion dollar Estate across more than 70 companies and over 20 jurisdictions.
Lisa and her team appointed top tier international lawyers to assist in co-ordinating the legal and tax advice. Shari‘a advice was obtained to interface the 15 probates required and to interpret Shari‘a law with the Proper Law of the Trusts.
Furthermore, as Trustee, Lisa and her team worked with the family‘s advisors to secure a Blessing from the Grand Court of the Cayman Islands for a “momentous decision” concerning the distribution of high value and complex trust assets to the Settlor‘s Shari‘a law named heirs.
The case, which involved a Public Trustee vs Cooper application to the court regarding a complex dynastic wealth structure for the benefit of the late patriarch of a wealthy Middle Eastern family and the Trustee‘s decision to make distributions to the Settlor‘s heirs under Shari‘a law. Shari‘a inheritance principles potentially conflicted with the underlying laws governing the trust in question, which had a large class of potential beneficiaries beyond the Settlor‘s named heirs, which required careful navigation by the Trustees.
In order for the Trustees to properly discharge their fiduciary responsibilities in exercising their discretionary powers of distribution, Lisa made extensive and forensic enquiries into the size and nature of the wider beneficial class, as well as into other relevant issues including working with a panel of leading advisers to review and assess the background to the trust‘s creation and the application of Shari‘a law.
While Chief Justice Anthony Smellie QC noted that, as in Harman J from Re Gestetner, trustees are not obliged to “survey the world from China to Peru” (RE “Lewin on Trusts”) they have a duty to go to all possible lengths in the course of their enquiries in order to inform decision making. This duty was exhibited by Lisa Vizia with aplomb.
Lisa continues her key role acting as Trustee, administering assets, obtaining probates and liaising with the Heirs on Shari‘a Estate matters with restructuring and distributions thereon.
Administering a global Art Foundation
Lisa and her team established and administer an Art Foundation structure involving substantial fine art, antiquities and jewellery which are exhibited globally.
Lisa and her team have developed over time a key understanding of the complexity and specialist knowledge regarding the acquisition of art related assets. She is therefore able to identify and manage the risks and provide a value-added service to her clients.
In this respect Lisa liaises with all the client‘s specialist advisers in relation to the complexities of this structure, including:
- Loaning of pieces to museums;
- Full exhibitions in museums worldwide;
- Donations to museums;
- Purchase and sale of pieces;
- Specialist storage of artefacts;
- Import and export of pieces across jurisdictions;
- Structuring of companies to own specific pieces.
Families supporting the arts
Lisa and her specialist team are experts in dealing with non-standard assets such as Art structures where art, antiquities and precious jewels are bailed and exhibited around the world at various museums. This has included continued work on behalf of a prominent Foundation. A momentous occasion for the Foundation in November 2021 was the opening of a semi- permanent exhibition space in Paris. Earlier in 2021, Lisa and her team worked with the Foundation and the legal team to provide rescue funding to an Islamic art museum in Israel, ensuring it did not have to auction its rare pieces to fund its continued operations.
Family Office
Lisa and her team have taken over the role of an International Family Office for a prominent Middle Eastern family where they are facilitating the management and administration of the various assets held outside of the Trust and Company Structure where they already act as Trustee and Directors. As part of this they also provide comprehensive financial reporting to the Trusted Advisor and Lisa meets with him regularly to report and discuss the international assets. Lisa also provides strategic input and facilitates the involvement of all the various legal, tax and specialist asset advisors in the various jurisdictions where the assets are located. Lisa also meets with the family to provide updates on the assets. Lisa and her team have created significant cost and administration efficiencies in taking over this role.
Complex business sale
As trustees and following the demise of the settlor, Lisa and her team handled the sale of a substantial branded car import, manufacturing and sales business in the Middle East. The process was arduous as senior management were uncooperative. However, the CEO was removed, professional firms appointed as interim operating advisors, a steering committee established for operational oversight, with all commercial, political and legal issues dealt with and a sale negotiated and concluded, securing an optimal outcome.