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Royal Court rules on loss of substratum in a Jersey fund

January 2013 - Finance. Legal Developments by Ogier .

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The Royal Court has ordered the winding up of a Jersey closed end fund on just and equitable grounds on the basis of a loss of the fund's substratum. The Court first delivered judgment in August in the case, EVIC v Greater Europe Deep Value Fund II Limited, and following a further hearing last month ordered the winding up of the fund. A further reasoned judgment will follow.

http://www.ogier.com/Publication%20Library/Royal_Court_rules_on_loss_of_substratum_in_a_Jersey_fund.pdf