Regional news: Jersey

The just and equitable winding up jurisdiction in Jersey: loss of substratum

Partner Stephen Alexander and Chazha Hick at Mourant in Jersey consider the case law setting out the circumstances in which local courts can wind up companies on just and equitable grounds, where the company’s original purpose can no longer be pursued.

03 May 2021

Begbies Traynor appointed as scandal-hit Football Index enters UK administration

Jersey-based BetIndex, which operates online gambling company Football Index, has been placed into administration by the English High Court – one week after a Jersey court issued a letter of request seeking its assistance.

26 March 2021

The rise in debt for equity swaps structured through Jersey

Partner Bruce MacNeil and managing associate James Lydeard at Ogier observe what makes the use of Jersey-incorporated acquisition and holding vehicles attractive for international restructuring transactions featuring debt for equity swaps, amid the emergence of a growing trend.

26 March 2021

A developing area: court-appointed receiverships in Jersey

Collas Crill recently brought a novel, successful application to appoint receivers over a promissory note and reconstitute a breach of a Jersey trust in the context of a bitter international family dispute. Group partners Sam Williams and Simon Hurry, who respectively brought the application, and led a team on behalf of the receivers in world-wide enforcement and recovery proceedings, discuss this first instance of a Jersey Court appointing receivers in aid of equitable execution.

04 March 2021

Appleby advised Arcadia administrators in Jersey, Guernsey and the Isle of Man

A court decision published in Jersey shows how offshore firm Appleby helped the joint administrators of British retail tycoon Philip Green’s Arcadia Group obtain recognition in the Channel Islands and the Isle of Man, before his fashion empire was sold off.

24 February 2021

Ashurst and White & Case advise as African diamond miner cuts creditor deal

A Jersey-incorporated group that operates African diamond mines has agreed a debt-for-equity restructuring with creditors, which it plans to carry out through a scheme of arrangement in England.

22 October 2020

Universality and comity: the Royal Court of Jersey and Lydian International

Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.

21 October 2020

Should Jersey have a corporate rescue regime?

Partner Stephen Alexander and associate Max Galt at Mourant in Jersey set out why a traditionally creditor-friendly offshore jurisdiction like Jersey, with its commercially minded and flexible Royal Court, would still benefit from introducing a statutory reorganisation process.

24 September 2020

English court prevents service on Panamanian investor

An English court has barred the liquidator of a local investment vehicle from serving a preference application on Panama-incorporated investor Holyoak, finding his claim did not have a “reasonable prospect of success”.

15 April 2020

Lebara completes restructuring

Six months after bondholders took control of the company through a “ground-breaking” coercive share pledge enforcement, UK telecoms group Lebara has completed its capital restructuring.

16 January 2020

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