Representation of the Viscount re Cochrane en desastre 29-Jan-2021 [2021] JRC 027 (29 January 2021)

Representation of the Viscount re Cochrane en desastre 29-Jan-2021 [2021] JRC 027 (29 January 2021)

The extension of the désastre was justified due to the ongoing complex English proceedings, unresolved creditor claims, and the need to protect creditors' interests. The balance of justice favored extension, as early discharge could prejudice creditors and undermine the Settlement Agreement.

Citation
[2021] JRC 027
Parties
Debtor: Dr Gail Alison Cochrane; Trustee in Bankruptcy: Viscount; Creditor: Harbour Fund II LP
Jurisdiction
Jersey
Judgment Date
29 January 2021
Procedural Posture
Bankruptcy Extension Application / Post Bankruptcy, Application to Extend Désastre
Outcome
application granted
Legal Topics
Extension of Bankruptcy, Discharge From Bankruptcy, After Acquired Property, Creditor Claims, Cross Border Insolvency
Insolvency Bankruptcy Extension of Bankruptcy Discharge From Bankruptcy After Acquired Property Creditor Claims Cross Border Insolvency

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Parties

Dr Gail Alison Cochrane

Debtor

Viscount

Trustee in Bankruptcy

Harbour Fund II LP

Creditor

Procedural Posture

Bankruptcy Extension Application / Post Bankruptcy, Application to Extend Désastre

Legal Issues

  1. 1 Whether the désastre of Dr Cochrane's property should be extended for a further three years under Article 40(2) of the Bankruptcy (Désastre) (Jersey) Law 1990
  2. 2 Whether the extension is justified in light of ongoing English proceedings and unresolved creditor claims

Ratio Decidendi

The extension of the désastre was justified due to the ongoing complex English proceedings, unresolved creditor claims, and the need to protect creditors' interests. The balance of justice favored extension, as early discharge could prejudice creditors and undermine the Settlement Agreement.

Court Disposition

application granted

Orders

  • The désastre of Dr Gail Alison Cochrane's property is extended for three years until 24 November 2023.