Royal Court of Jersey reconfirms flexible use of just and equitable winding-up jurisdiction

In the matter of the Representation of Huelin-Renouf Shipping Limited [2013] JRC 164, the Royal Court of Jersey has again shown its readiness to utilise the just and equitable winding-up jurisdiction in order to provide a solution not otherwise offered by other insolvency procedures available under Jersey law.

On 20 August 2013, on the application of the board, the Royal Court ordered that Huelin-Renouf Shipping Ltd be wound up under Article 155 of the Companies (Jersey) Law 1991, as amended on the basis that it was ‘just and equitable’ to do so.

The Royal Court observed that its jurisdiction under Article 155 of the law had previously been described as a power that should be used flexibly (Jean v Murfitt 1996/237) and that the words ‘just and equitable’ required a flexible interpretation (Leveraged Income Fund Limited 2002/209)…

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