Guide to summary winding up of a Jersey company
This Guide describes the steps to be taken to summarily to wind up a Jersey limited company. The procedure which governs the summary winding up of a Jersey limited company (not being a limited life company or a company of limited duration) is set out in Articles 145 to 150 of the Companies (Jersey) Law 1991, as amended. A summary winding up may be commenced by a company that:
- has no assets and no liabilities;
- has assets and no liabilities;
- will be able to discharge its liabilities in full within six months of the commencement of winding up;
- has liabilities that will fall due more than 6 months after the commencement of the winding up that it will be able to discharge in full as they fall due; or
- sub-paragraphs 3 and 4 apply to the company.
It is recognised that this Guide will not completely answer detailed questions which clients and their advisers may have. It is intended to provide a sketch of the subject matter covered. The Guide is, therefore, designed as a starting-point for a more detailed and comprehensive discussion of the issues…
If you are registered and logged in to the site, click on the link below to read the rest of the Appleby briefing. If not, please register or sign in with your details below.
News from Appleby
News from The Lawyer
Briefings from Appleby
Incorporation describes the process of forming a new legal entity (a company) that is recognised at law as a separate legal person.
This feature publication aims to tap into the issues facing high-net-worth individuals around the globe, and investigate the themes and challenges affecting this elite group.
Analysis from The Lawyer
The past quarter has been busy for the offshore sector as firms have looked to capitalise on globalisation, while workflow has remained high
Business is booming in the Isle of Man, a small jurisdiction that thinks big