Guide to winding up of solvent and insolvent Jersey companies
The purpose of this Guide is to outline the procedures to wind up Jersey registered companies, the circumstances in which transactions entered into by an insolvent company may be set aside, and the circumstances in which a company’s officers and managers may incur civil or criminal liability.
Voluntary winding up where a company is solvent is a straightforward procedure which can be completed quickly if the company’s affairs are uncomplicated. If the company’s affairs are complicated or it is insolvent, the winding up will necessarily be more complex and time consuming.
A company registered in Jersey may be wound up as follows:
- in a summary winding up (where the company is solvent);
- in a creditors’ winding up (where the company is insolvent);
- following a declaration that the company’s property is “en désastre” (where the company is insolvent);
- on the expiry of its period of duration;
- by order of the court…
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