Vol 14 (2017) - Issue 5

Article preview

Tales of the Unexpected: Jersey Takes a Monumental Stand in CrossBorder Insolvency

In the trilogy of decisions concerning the high profile cross-border insolvency of Jersey company Orb a.r.l ('Orb') and Dr Gail Cochrane ('Dr Cochrane'), sole director and shareholder of Orb, the Royal Court of Jersey unconditionally endorsed the capability of the Jersey insolvency regime to deal with complex crossborder insolvency matters. These three decisions of the Royal Court confirm that in certain circumstances, Jersey will retain jurisdiction over its own companies and insolvencies. Whereas in the past, the Royal Court has often accepted such matters could be dealt with more efficiently under the administration procedure governed by the UK Insolvency Act 1986, and albeit this still remains an important option, these three decisions have proved it is limited.