Representation of Rendle and Butcher [2017] JRC 042 (16 March 2017)

Representation of Rendle and Butcher [2017] JRC 042 (16 March 2017)

The substratum of Estrela has been lost as it no longer serves its investment purpose, is insolvent, and there is no prospect of recommencing its activities. It is just and equitable to wind up the company.

Citation
[2017] JRC 042
Parties
Applicant: Richard Rendle; Applicant: Roderick Butcher; Respondent: Arck Estrela Limited
Jurisdiction
Jersey
Judgment Date
16 March 2017
Procedural Posture
Company Winding Up Application / Final Judgment
Outcome
application granted
Legal Topics
Winding Up on Just and Equitable Grounds, Loss of Substratum, Liquidation, Rectification of Register of Members
Company Law Insolvency Law Winding Up on Just and Equitable Grounds Loss of Substratum Liquidation Rectification of Register of Members

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Parties

Richard Rendle

Applicant

Roderick Butcher

Applicant

Arck Estrela Limited

Respondent

Procedural Posture

Company Winding Up Application / Final Judgment

Legal Issues

  1. 1 Whether Estrela should be wound up on just and equitable grounds under Article 155 of the Companies (Jersey) Law 1991
  2. 2 Whether the substratum of Estrela has been lost

Ratio Decidendi

The substratum of Estrela has been lost as it no longer serves its investment purpose, is insolvent, and there is no prospect of recommencing its activities. It is just and equitable to wind up the company.

Court Disposition

application granted

Orders

  • Estrela is to be wound up on just and equitable grounds under Article 155(1) of the Companies (Jersey) Law 1991
  • Linda Johnson of KPMG Channel Islands Limited and David Standish of KPMG LLP London are appointed as joint liquidators of Estrela