In re desastre of Roach v [2005] JLR 412 (25 October 2005)

In re desastre of Roach v [2005] JLR 412 (25 October 2005)

A debtor may be declared en desastre even if there is no immediately realizable property, as property includes future interests and likely future income, which are realizable assets under the relevant Jersey bankruptcy laws.

Citation
[2005] JLR 412
Parties
Debtor: Roach
Jurisdiction
Jersey
Judgment Date
25 October 2005
Procedural Posture
Bankruptcy (desastre) / Judgment on Property Available for Distribution
Outcome
debtor declared en desastre
Legal Topics
Property Available for Distribution, Future Interests, Realizable Assets
Bankruptcy Insolvency Property Available for Distribution Future Interests Realizable Assets

Case Brief

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Parties

Roach

Debtor

Procedural Posture

Bankruptcy (desastre) / Judgment on Property Available for Distribution

Legal Issues

  1. 1 Whether a debtor may be declared en desastre in the absence of immediately realizable property
  2. 2 Whether likely future income constitutes a realizable asset under the Bankruptcy (Desastre) (Jersey) Rules 1991

Ratio Decidendi

A debtor may be declared en desastre even if there is no immediately realizable property, as property includes future interests and likely future income, which are realizable assets under the relevant Jersey bankruptcy laws.

Court Disposition

debtor declared en desastre

Orders

  • Viscount may realize assets acquired after declaration, including likely future income