Advocates Mark Helyar and Christopher Anderson, of Bedell Cristin Guernsey.

A TEAM of Guernsey lawyers has been appointed to liquidate a stricken multi-billion-pound investment fund with links to ex-US president George Bush Snr and former prime minister John Major.

Advocates Mark Helyar and Christopher Anderson, of Bedell Cristin Guernsey, are advising on the winding-up of Carlyle Capital Corporation, an offshoot of the Carlyle Group – one of the biggest private equity firms in the world.

The Guernsey-based hedge fund collapsed a couple of weeks ago with $21bn of debt due to the credit crunch. Managing partner Advocate Helyar said: ‘Our team is working closely and intensively with the liquidators and counsel in the island, London, New York and Holland, together with the regulatory and listing authorities, to facilitate the orderly liquidation of CCC’s remaining assets.’