Stuck In The Middle With You

The Royal Court of Guernsey has recently handed down judgment upon an application by the liquidators of CanArgo Limited (Company), Ben Rhodes and Alan Roberts of Grant Thornton (Liquidators), for directions blessing the sale of the Company's assets which were caught between competing 'prior rights' claims of two protagonists. It was alleged by each that these rights bound the Liquidators and therefore practically prevented the sale of the assets to anyone else but themselves, or at the very least without their consent. Following a competitive bidding process, and under threat of litigation from both sides, the Liquidators sought a blessing of their decision to untangle the knot and sell to one of the competing parties.