Representation of Vodafone 4 Limited [2007] JRC 193 (09 October 2007)

The reduction of share capital is approved as all shareholders have agreed, creditors of substance have consented, and there are ample funds for minor creditors, ensuring no prejudice to creditors.

Citation: [2007] JRC 193
Parties: Applicant: Vodafone 4 Limited; Respondent: Vodafone Group (majority shareholder)
Jurisdiction: Jersey
Judgment Date: 09 October 2007
Procedural Posture: Application for Reduction of Share Capital / Judgment
Outcome: application granted
Legal Topics: Reduction of Share Capital, Shareholder Approval, Creditor Protection

Company Law Reduction of Share Capital Shareholder Approval Creditor Protection

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Parties

Vodafone 4 Limited

Applicant

Vodafone Group (majority shareholder)

Respondent

Procedural Posture

Application for Reduction of Share Capital / Judgment

Legal Issues

1 Whether the proposed reduction of share capital should be approved under Jersey law
2 Whether creditors' interests are adequately protected

Ratio Decidendi

The reduction of share capital is approved as all shareholders have agreed, creditors of substance have consented, and there are ample funds for minor creditors, ensuring no prejudice to creditors.

Court Disposition

application granted

Orders

Reduction of share capital approved
Minute of reduction approved