Representation of RBS Plc [2012] JRC 080 (18 April 2012)

Representation of RBS Plc [2012] JRC 080 (18 April 2012)

The Court granted the application for a Letter of Request to the English Court because the Company is insolvent, its assets are in England, administration in England is more suitable and flexible than Jersey's insolvency procedures, and the legal requirements for such a request are satisfied. There is no legal requirement to convene Jersey creditors, and the late application to intervene was an abuse of procedure.

Citation
[2012] JRC 080
Parties
Representor: Bank of Scotland PLC; Respondent: Control Centre General Partner Limited; Creditor/intervener: Evans Randall Investment Management Limited; Creditor/intervener: Evans Randall (UK) Limited; Creditor/intervener: Evans Randall International Limited
Jurisdiction
Jersey
Judgment Date
18 April 2012
Procedural Posture
Insolvency Application / Application for Letter of Request to English Court for Administration Order
Outcome
Application granted
Legal Topics
Administration Order, Letter of Request, Jurisdiction, Secured Creditors, Unsecured Creditors, Intervention Rights
Insolvency Cross Border Insolvency Company Law Administration Order Letter of Request Jurisdiction Secured Creditors Unsecured Creditors +1 more

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Parties

Bank of Scotland PLC

Representor

Control Centre General Partner Limited

Respondent

Evans Randall Investment Management Limited

Creditor/intervener

Evans Randall (UK) Limited

Creditor/intervener

Evans Randall International Limited

Creditor/intervener

Procedural Posture

Insolvency Application / Application for Letter of Request to English Court for Administration Order

Legal Issues

  1. 1 Whether the Jersey court should issue a Letter of Request to the English Court for an administration order over a Jersey company with assets in England
  2. 2 Whether Jersey creditors must be convened to such applications
  3. 3 Whether intervention by certain creditors should be allowed

Ratio Decidendi

The Court granted the application for a Letter of Request to the English Court because the Company is insolvent, its assets are in England, administration in England is more suitable and flexible than Jersey's insolvency procedures, and the legal requirements for such a request are satisfied. There is no legal requirement to convene Jersey creditors, and the late application to intervene was an abuse of procedure.

Court Disposition

Application granted

Orders

  • Letter of Request to the English Court for administration order approved and issued
  • Application to intervene by Evans Randall companies refused