Regional news: Jersey

UAE national to face Dubai personal guarantee action in Jersey

Dubai government-owned bank Emirates NBD has won a summary judgment in Jersey recognising and enforcing a Dubai court order against a UAE national, as it gears up for a so-called “Pauline” claim trial in January.

13 December 2023

South Africa court adjourns winding up by Jersey post-petition financier

The South African High Court has adjourned a winding up petition against a floor covering manufacturer because the Jersey company that brought the application failed to enjoin other affected creditors, including the company’s employees.

31 October 2023

Jersey court winds up “dual hatted” entity already in liquidation in Luxembourg

Fried Frank Harris Shriver & Jacobson and Appleby have secured the first substantive creditor winding up order under a new law in Jersey – against a rental guarantor company that is already in insolvency proceedings in Luxembourg.

15 June 2023

Shearman and Gibson Dunn advising as Vice set to sell at discount

A group led by George Soros’ investment management firm, New York-headquartered Fortress Investment, and middle market lender Monroe Capital is planning to buy troubled media group Vice out of bankruptcy.

15 May 2023

Privy Council makes “far-reaching” ruling on insolvent offshore trusts

In a decision that lawyers say will have a “far-reaching and long-lasting” impact on the offshore trusts industry, the UK Privy Council has found that trustees have a proprietary interest in trust property in relation to their rights of indemnity, which survives when a successor takes over – and that successive trustees should be ranked pari passu in respect of that interest if there aren’t enough trust assets to go round.

17 October 2022

Liquidators of Jersey vehicle owned by  ex-Russian senator seek recognition in California

The joint liquidators of a Jersey-incorporated investment holding vehicle owned by an ex-Russian senator turned US citizen have sought recognition in California, where it is embroiled in local litigation with the vehicle’s former director.

12 August 2022

US lender seeks winding up of litigation funder in Cayman Islands

Delaware-based lender Therium Litigation Finance Atlas is seeking the winding up of a Cayman-registered litigation funder that carried out its business in the UK.

27 June 2022

ADGM recognises NMC’s UK administrators, as UAE process draws to a close

UK-based NMC Health’s English administrators have obtained what is believed to be the first ever recognition decision from a court in Abu Dhabi’s financial free zone, as the UAE administrators of the beleaguered healthcare group’s operating companies made a landmark announcement that they would exit administration before the end of the month.

18 March 2022

Developments to Jersey's insolvency regime

Mourant Ozannes partner Stephen Alexander and associate Chris Vincent examine the recent “landmark” changes to Jersey’s Companies Law, which they say reinforce the jurisdiction’s position as a leader among offshore international finance centres.

06 December 2021

Football Index enters Jersey liquidation

The operator of online gambling platform Football Index has been placed into liquidation in Jersey, after its UK administration failed to produce a restructuring.

16 November 2021

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