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ARTICLE · 18 MAY 2023

Just And Equitable Winding Up – A Pragmatic Solution To An Unusual Situation

Voisin Law
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Kenneth was a minority shareholder of the Company and held 35% of the shares, with the balance of the shares being held by Robert.

JerseyCorporate/Commercial Law
Daniel Walker
Daniel Walker

In the recent case of Monarch Investments Limited [2023] JRC024, the Royal Court was faced with a Jersey company which had become 'paralysed' as a result of a breakdown of relations between its two shareholders.

Background

The case concerned Monarch Investments Limited (the "Company"), which was a Jersey company incorporated in April 1971 and which held, as its principal assets, two properties in the heart of St. Helier.

The two shareholders of the Company were Robert Gibbons ("Robert") and Kenneth Gibbons ("Kenneth"), who were brothers and Robert was also the sole director of the Company.

Kenneth was a minority shareholder of the Company and held 35% of the shares, with the balance of the shares being held by Robert.

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