Regional news: Jersey

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

Insolvency forum shopping and the case of Investin

Partner Stephen Alexander and associate Stephan Venter at Mourant in Jersey examine the growing practice of insolvency forum shopping and explain how Jersey’s Royal Court approached the subject in the recent Investin case.

04 October 2021

Jersey-based investor fails to block potential English preference claims

Days after the director of a Jersey-based investment vehicle lost his bid to restrain a creditor from presenting a winding up petition in the English courts, a London judge has ordered a hearing to take place as early as next month.

27 September 2021

Preferences and the pandemic

Preference claims are on the rise in many financial centres across the globe and many are linking this to the impact of the global pandemic. Stephen Alexander, a partner at Mourant Ozannes in Jersey, asks whether the impact of the pandemic may be a defence to such preference claims – and if so, how?

06 September 2021

Jersey company can be wound up in England, High Court rules

Setting out the post-Brexit application of the EU Insolvency Regulation, the High Court in London has ruled that a Jersey-registered company can be wound up in England.

31 August 2021

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