[LETTERHEAD] Exhibit 5.01(a)
SIDLEY & AUSTIN
A PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS
ONE FIRST NATIONAL PLAZA
LOS ANGELES CHICAGO, ILLINOIS 60603 LONDON
______ TELEPHONE 312:000-0000 ______
NEW YORK TELEX 25-4364 SINGAPORE
______ FACSIMILE 312: 853-7036 ______
WASHINGTON, D.C. TOKYO
FOUNDED 1866
September 23, 1997
CIS Investments, Inc.
Managing Owner of
JWH Global Portfolio Trust
000 Xxxxx Xxxxxx Xxxxx
Xxxxxxx, Xxxxxxxx 00000
Dear Madam or Sir:
We refer to Amendment No. 1 to the Registration Statement on Form
S-1 (Reg. No. 333-33937), filed by JWH Global Trust, a Delaware business
trust (the "Trust"), with the Securities and Exchange Commission under the
Securities Act of 1933, as amended (the "Act"), on or aboutSeptember 24, 1997
(the "Registration Statement"), relating to the registration under the Act of
$155,000,000 of Units of Beneficial Interest in the Trust ("Units").
We are familiar with the proceedings to date with respect to the
proposed issuance and sale of the Units and have examined such records,
documents and questions of law, and satisfied ourselves as to such matters of
fact, as we have considered relevant and necessary as a basis for this
opinion.
For purposes of rendering this opinion, we have assumed the
genuineness of all signatures, the legal capacity of natural persons, the
authenticity of all documents submitted to us as originals, the conformity to
originals of all documents submitted to us as certified or photostatic
copies, and the authenticity of the originals of such copies.
Based upon the foregoing, we are of the opinion that:
1. CIS Investments, Inc. (the "Managing Owner") is duly
organized, validly existing and in good standing as a corporation under the
laws of the State of Delaware and is in good standing and qualified to do
business in each other jurisdiction in which the failure to so qualify might
reasonably be expected to result in material adverse consequences to the
Trust.
SIDLEY & AUSTIN CHICAGO
CIS Investments, Inc.
August 19, 1997
Page 2
2. The Managing Owner has taken all corporate action required to
be taken by it to authorize the issue and sale of Units to the Unitholders
and to authorize the admission to the Trust of the Unitholders as beneficial
owners of the Trust.
We do not find it necessary for the purposes of this opinion to
cover, and accordingly we express no opinion as to, the application of the
securities or blue sky laws of the various states (including the state of
Delaware) to the sale of the Units.
This opinion is limited to the laws of the United States, the
States of California, Delaware (general corporate law only), Illinois, New
York, Texas and the District of Columbia.
This opinion speaks as of the date hereof, and we assume no
obligation to update this opinion as of any future date. We hereby consent
to the filing of this opinion as an Exhibit to the Registration Statement and
to all references to our firm included in or made a part of the Registration
Statement. This opinion shall not be used by any other person for any purpose
without our written consent.
Very truly yours,
SIDLEY & AUSTIN
