Changes to the Companies Law in 2022 have increased the options available to creditors of insolvent Jersey companies -
A creditor is now able to apply to the Jersey Court to wind up a company a liquidated claim against a...more
3/5/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Business Entities ,
Companies Law ,
Compliance ,
Corporate Governance ,
Corporate Restructuring ,
Creditors ,
Debt Collection ,
Financial Services Industry ,
Insolvency ,
Liquidation
Jersey's Royal Court has confirmed the existence of rules in Jersey law that:
Where a trust seeks to provide for mixed charitable and non-charitable purposes, the non-charitable purpose can invalidate the charitable...more
A nation state can be trustee of a Jersey law express trust, even though it has state immunity against being sued for breach of trust or otherwise being held accountable for its trusteeship in domestic courts. The Royal Court...more
Despite the Trusts (Jersey) Law 1984 ("Trusts Law") expressly providing against the rule against perpetuities currently applying in Jersey, the Royal Court has found the rule to form part of the underlying fabric of Jersey...more
Jersey companies are widely used for setting up joint ventures, particularly in a private equity context – further information on why Jersey entities are popular for private equity structures can be found here . It is a...more
Matters of law will certainly not always be black and white, however, the Courts have adopted a traditional approach when assessing matters of mismanagement or misconduct by directors in relation to company – if there is...more
It has been an open question for almost 20 years whether a misrepresentation constituting dol (essentially, fraud) could be made by silence alone in Jersey law. The issue has now been laid to rest following the Royal Court...more
There is no generally implied term of good faith in all Jersey law contracts, the Royal Court has held. In doing so, it has answered a question left open in earlier Jersey judgments – including by the Court of Appeal in the...more
Fraud is on the rise. And as sums defrauded usually disappear, victims search for an alternative source to recover their losses. Unsurprisingly, the search often identifies banks' resources as a potential first call. ...more
10/13/2023
/ Banking Sector ,
British Virgin Islands ,
Cayman Islands ,
Duty of Care ,
Financial Conduct Authority (FCA) ,
Fraud ,
HSBC ,
Investment Firms ,
Liability ,
Misallocation of Funds ,
National Crime Agency (NCA) ,
Offshore Banks ,
UK Supreme Court ,
United Arab Emirates (UAE)
As the use of arbitration as a means of dispute resolution has grown in popularity, there has been a marked increase in the need for arbitral awards to be recognised and enforced in offshore jurisdictions.
The...more
8/8/2023
/ Arbitration ,
Arbitration Agreements ,
Arbitration Awards ,
Bermuda ,
British Virgin Islands ,
Cayman Islands ,
Enforcement ,
Island of Guernsey ,
Jurisdiction ,
Offshore Companies ,
UNCITRAL
For executors and administrators of estates it is important to have clarity as to the timeframes within which claims can be brought against the estate they are administering. Heirs and legatees can only bring a challenge...more
A recent English law case has highlighted an issue relevant to those involved in Channel Islands-related insolvencies – and particularly to insolvency practitioners ("IPs") who take on appointments as administrators – about...more
Under the Security Interests (Jersey) Law 2012 (the “Security Law”), one method of security enforcement is for the secured party to appropriate the collateral.
Under this method of security enforcement, the secured party...more
Introduction -
The Judicial Committee of the Privy Council has handed down its long-awaited judgment in the joined cases of Equity Trust (Jersey) Ltd v Halabi and ITG Ltd and others v Fort Trustees Ltd, each focusing on...more
After much anticipation, the UK Supreme Court has handed down its judgment in BTI 2014 LLC v Sequana S.A. [2022] UKSC 25 - and has authoritatively set the baseline for how directors’ duties evolve as regards shareholders and...more