Rep of Roberts and Pirouet [2011] JRC 166 (25 August 2011)

Rep of Roberts and Pirouet [2011] JRC 166 (25 August 2011)

Given the serious intermingling of the companies' affairs, the disproportionate cost and impracticality of disentanglement, and the absence of creditor objections, the Court has jurisdiction and it is appropriate to order pooling of assets and liabilities to treat all creditors equally.

Citation
[2011] JRC 166
Parties
Company in Liquidation: Corebits Services Limited; Company in Liquidation: Zoombits Limited; Applicant: Joint Liquidators (including Mr John Pirouet)
Jurisdiction
Jersey
Judgment Date
25 August 2011
Procedural Posture
Creditors' Winding Up Application / Application for Pooling Order
Outcome
Application approved
Legal Topics
Pooling of Assets and Liabilities, Creditors' Winding Up, Jurisdiction Under Companies (jersey) Law 1991, Intermingling of Company Affairs
Insolvency Company Law Pooling of Assets and Liabilities Creditors' Winding Up Jurisdiction Under Companies (jersey) Law 1991 Intermingling of Company Affairs

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Parties

Corebits Services Limited

Company in Liquidation

Zoombits Limited

Company in Liquidation

Joint Liquidators (including Mr John Pirouet)

Applicant

Procedural Posture

Creditors' Winding Up Application / Application for Pooling Order

Legal Issues

  1. 1 Whether the Court has jurisdiction to order pooling of assets and liabilities in a creditors' winding-up under the Companies (Jersey) Law 1991
  2. 2 Whether pooling is appropriate given the intermingling of the companies' affairs and the cost of disentanglement

Ratio Decidendi

Given the serious intermingling of the companies' affairs, the disproportionate cost and impracticality of disentanglement, and the absence of creditor objections, the Court has jurisdiction and it is appropriate to order pooling of assets and liabilities to treat all creditors equally.

Court Disposition

Application approved

Orders

  • Pooling of the assets and liabilities of Corebits Services Limited and Zoombits Limited so that all creditors of both companies will be treated in like manner.