1999/173 - Representation re Murco [1999] UR 173 (12 October 1999)

1999/173 - Representation re Murco [1999] UR 173 (12 October 1999)

The liquidator acted properly and in the best interests of the company in the compulsory purchase and proposed sale of remaining land; the alternatives for sale are fair and not prejudicial; the liquidator's increased costs are justified by the work done.

Citation
[1999] UR 173
Parties
Representor/liquidator: David Frobisher Waters; Company in Liquidation: Murco Overseas Properties Limited; Beneficial Owner/objector: Mr Murfitt; Beneficial Owners: Jean family
Jurisdiction
Jersey
Judgment Date
12 October 1999
Procedural Posture
Representation in Company Liquidation / Application for Directions and Orders
Outcome
representation granted; orders made as requested
Legal Topics
Liquidation of Company, Compulsory Purchase, Distribution of Assets, Liquidator's Costs
Company Law Insolvency Law Property Law Liquidation of Company Compulsory Purchase Distribution of Assets Liquidator's Costs

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Parties

David Frobisher Waters

Representor/liquidator

Murco Overseas Properties Limited

Company in Liquidation

Mr Murfitt

Beneficial Owner/objector

Jean family

Beneficial Owners

Procedural Posture

Representation in Company Liquidation / Application for Directions and Orders

Legal Issues

  1. 1 Whether the liquidator acted properly in the compulsory sale of company land
  2. 2 Whether the liquidator should be granted leave to sell remaining land and on what terms
  3. 3 Whether the liquidator's costs should be increased

Ratio Decidendi

The liquidator acted properly and in the best interests of the company in the compulsory purchase and proposed sale of remaining land; the alternatives for sale are fair and not prejudicial; the liquidator's increased costs are justified by the work done.

Court Disposition

representation granted; orders made as requested

Orders

  • Ratification of liquidator's actions in compulsory purchase proceedings.
  • Leave granted to liquidator to sell remaining land as proposed, by private treaty or public auction with reserve price.