Rep of Viscount re Cochrane and Orb ARL [2017] JRC 025 (16 February 2017)

Rep of Viscount re Cochrane and Orb ARL [2017] JRC 025 (16 February 2017)

Given the scale of the debts, the history of asset transfers, the contradictory evidence regarding the assets of Orb and Dr Cochrane, and the need to protect creditors' interests, the Court held it was necessary and appropriate to issue letters of request to the High Court of Justice of England and Wales to enable the Viscount to gather information, recover assets, and intervene in relevant proceedings.

Citation
[2017] JRC 025
Parties
Applicant: Viscount; Debtor: Orb A. R. L.; Debtor: Dr Gail Cochrane; Creditor: Harbour Fund II LP
Jurisdiction
Jersey
Judgment Date
16 February 2017
Procedural Posture
Insolvency/asset Recovery / Application for Letters of Request to Foreign Court
Outcome
application granted
Legal Topics
Désastre, Letters of Request, Recognition of Insolvency Officeholder, Information Gathering, Section 426 Insolvency Act 1986
Insolvency Cross Border Insolvency Asset Recovery Désastre Letters of Request Recognition of Insolvency Officeholder Information Gathering Section 426 Insolvency Act 1986

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Parties

Viscount

Applicant

Orb A. R. L.

Debtor

Dr Gail Cochrane

Debtor

Harbour Fund II LP

Creditor

Procedural Posture

Insolvency/asset Recovery / Application for Letters of Request to Foreign Court

Legal Issues

  1. 1 Whether the Court should issue letters of request to the High Court of Justice of England and Wales for assistance in asset recovery in connection with two désastres involving Orb A. R. L. and Dr Gail Cochrane.

Ratio Decidendi

Given the scale of the debts, the history of asset transfers, the contradictory evidence regarding the assets of Orb and Dr Cochrane, and the need to protect creditors' interests, the Court held it was necessary and appropriate to issue letters of request to the High Court of Justice of England and Wales to enable the Viscount to gather information, recover assets, and intervene in relevant proceedings.

Court Disposition

application granted

Orders

  • Letters of request to the High Court of Justice of England and Wales to be issued seeking recognition of the Viscount and assistance in asset recovery and intervention in proceedings.