Twitter Logo Youtube Circle Icon LinkedIn Icon

Publishing firms

Legal Developments worldwide

Royal Court rules on loss of substratum in a Jersey fund

January 2013 - Finance. Legal Developments by Ogier .

More articles by this firm.

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.