Representation of Huelin-Renouf Shipping Limited [2013] JRC 164 (20 August 2013)

Representation of Huelin-Renouf Shipping Limited [2013] JRC 164 (20 August 2013)

It is just and equitable to wind up the company because it is insolvent, alternative procedures are inappropriate or unavailable, and immediate action is required to protect assets and address multijurisdictional concerns.

Citation
[2013] JRC 164
Parties
Applicant/company: Huelin-Renouf Shipping Limited; Ultimate Beneficial Owner: Mr Jonathan Bale; Interested Party: Mrs Allo (for the Viscount)
Jurisdiction
Jersey
Judgment Date
20 August 2013
Procedural Posture
Company Winding Up Application / Judgment on Application for Just and Equitable Winding Up Under Article 155
Outcome
Order for just and equitable winding up of the company under Article 155 granted.
Legal Topics
Just and Equitable Winding Up, Liquidation Powers, Alternative Insolvency Procedures
Insolvency Company Law Just and Equitable Winding Up Liquidation Powers Alternative Insolvency Procedures

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Parties

Huelin-Renouf Shipping Limited

Applicant/company

Mr Jonathan Bale

Ultimate Beneficial Owner

Mrs Allo (for the Viscount)

Interested Party

Procedural Posture

Company Winding Up Application / Judgment on Application for Just and Equitable Winding Up Under Article 155

Legal Issues

  1. 1 Whether it is just and equitable to wind up the company under Article 155 of the Companies (Jersey) Law 1991
  2. 2 Whether alternative procedures (creditors' winding up or désastre) are appropriate

Ratio Decidendi

It is just and equitable to wind up the company because it is insolvent, alternative procedures are inappropriate or unavailable, and immediate action is required to protect assets and address multijurisdictional concerns.

Court Disposition

Order for just and equitable winding up of the company under Article 155 granted.

Orders

  • Messrs Roberts, Toynton and Rhodes of Grant Thornton appointed as joint liquidators.
  • Liquidators granted powers as per paragraphs (a)-(l) of paragraph 3 of the Prayer of the Representation, with liberty to apply for further powers if needed.