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Recognition of UK Insolvency Practitioners in Jersey

April 2013 - Real Estate & Property. Legal Developments by Ogier .

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Introduction 

With the March quarter day fast approaching it is likely that there will be more businesses becoming insolvent. Some of those businesses will have an interest in Jersey property.  For example as owners of Jersey property or holders of a lease of retail premises situated in the Island.

Insolvency practitioners appointed outside Jersey in respect of an overseas person or company (or of a Jersey company subject to English insolvency proceedings) need to be recognised in Jersey before they can deal with certain forms of Jersey property. This is because Jersey immoveable property can only be transacted by passing a contract before the Royal Court.

http://www.ogier.com/Publications/Library/Pages/RecognitionofUKInsolvencyPractitionersinJersey.aspx