Letters of request — insolvent Jersey companies and UK administration
On 9 April 2013, Mann J refused an application by HSBC Bank Plc pursuant to a letter of request for assistance issued by the Royal Court of Jersey on 28 February 2013 seeking the appointment of administrators over Tambrook Jersey Ltd. Tambrook is incorporated in Jersey but its only assets are in the UK.
The request for assistance from the Jersey Court was based on section 426(4) of the Insolvency Act 1986 and in issuing the letter the Jersey Court noted that “it is settled law that this Court has jurisdiction to issue a request to the English Court, it being recognised that Jersey Insolvency Law does not make provision for the flexibility offered by the administration process.” Mann J held that as there was no Jersey insolvency proceeding on foot, “and no intention on the part of anyone (apparently) to start one” it was not possible for the English Court to see how the Royal Court is “assisted” for the purposes of 426(4)…
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Norwich Pharmacal relief — obtaining information relating to a BVI company from its registered agent
This briefing note deals with the circumstances in which and methods by which non-public information about a BVI company can be obtained by a third party.
The aim of this update is to focus on current legal and regulatory developments affecting financial services institutions in Jersey.