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…
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