Representation of Bellzone Mining Plc, Antony Gardner-Hillman and Simon Brickles [2019] JRC 009 (31 January 2019)

Representation of Bellzone Mining Plc, Antony Gardner-Hillman and Simon Brickles [2019] JRC 009 (31 January 2019)

The Court ordered the winding up of Bellzone Mining Plc under Article 155 of the Companies (Jersey) Law 1991 because the company was irretrievably insolvent, delay would prejudice assets and stakeholders, and immediate appointment of professional liquidators was necessary for expedient and orderly administration.

Citation
[2019] JRC 009
Parties
Applicant: Bellzone Mining Plc; Applicant: Antony Gardner-Hillman; Applicant: Simon Brickles; Creditor: China Sonangol pte (S) Limited; Creditor: Hudson Global Group Limited; Major Shareholder/creditor: China Sonangol International Limited
Jurisdiction
Jersey
Judgment Date
31 January 2019
Procedural Posture
Company Winding Up / Final Judgment
Outcome
application granted
Legal Topics
Just and Equitable Winding Up, Appointment of Liquidators, Insolvency Procedures
Company Law Insolvency Just and Equitable Winding Up Appointment of Liquidators Insolvency Procedures

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Parties

Bellzone Mining Plc

Applicant

Antony Gardner-Hillman

Applicant

Simon Brickles

Applicant

China Sonangol pte (S) Limited

Creditor

Hudson Global Group Limited

Creditor

China Sonangol International Limited

Major Shareholder/creditor

Procedural Posture

Company Winding Up / Final Judgment

Legal Issues

  1. 1 Whether the Court should order the just and equitable winding up of Bellzone Mining Plc under Article 155 of the Companies (Jersey) Law 1991
  2. 2 Whether delay in winding up would prejudice assets and stakeholders

Ratio Decidendi

The Court ordered the winding up of Bellzone Mining Plc under Article 155 of the Companies (Jersey) Law 1991 because the company was irretrievably insolvent, delay would prejudice assets and stakeholders, and immediate appointment of professional liquidators was necessary for expedient and orderly administration.

Court Disposition

application granted

Orders

  • Bellzone Mining Plc to be wound up under Article 155 of the Companies (Jersey) Law 1991
  • Mr Alan Roberts and Mr Ben Rhodes of Grant Thornton LLP appointed as joint liquidators with usual powers