Viscount -v- Booth [2017] JRC 215 (19 December 2017)

Viscount -v- Booth [2017] JRC 215 (19 December 2017)

The Viscount's decision to accept the £1.85m offer falls within the range of reasonable responses after extensive marketing and professional advice, and there is no realistic prospect of achieving a materially higher price. The Court approves the sale as reasonable under the Bankruptcy (Désastre)(Jersey) Law 1990.

Source-derived case information.

Citation
[2017] JRC 215
Parties
Applicant: The Viscount; Respondent: Mr Booth; Secured Creditor: Investec Bank (Channel Islands) Limited; Secured Creditor: Mr and Mrs Le Cornu
Jurisdiction
Jersey
Judgment Date
19 December 2017
Procedural Posture
Application / Post Désastre, Approval of Property Sale
Outcome
application granted
Legal Topics
Désastre, Sale of Immovable Property, Secured Creditors, Court Supervision
Insolvency Property Law Désastre Sale of Immovable Property Secured Creditors Court Supervision

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Parties

The Viscount

Applicant

Mr Booth

Respondent

Investec Bank (Channel Islands) Limited

Secured Creditor

Mr and Mrs Le Cornu

Secured Creditor

Procedural Posture

Application / Post Désastre, Approval of Property Sale

Legal Issues

  1. 1 Should the Court approve the Viscount's decision to sell King's Oak for £1.85m despite objections from Mr Booth?
  2. 2 Is the Viscount's decision within the range of reasonable responses open to her under the Bankruptcy (Désastre)(Jersey) Law 1990?

Ratio Decidendi

The Viscount's decision to accept the £1.85m offer falls within the range of reasonable responses after extensive marketing and professional advice, and there is no realistic prospect of achieving a materially higher price. The Court approves the sale as reasonable under the Bankruptcy (Désastre)(Jersey) Law 1990.

Court Disposition

application granted

Orders

  • Approval for sale of King's Oak for £1.85m.
  • Mr Booth and any other person living at the Property to vacate following receipt of not less than 21 days' notice from the Viscount, with undertaking accepted in lieu of formal order.