When "All Does Not Mean "All"...

The Royal Court of Jersey has determined a novel point of insolvency law in relation to the vesting of claims in a désastre, Jersey's unique bankruptcy regime for personal and corporate debtors.

Although the Bankruptcy (Désastre) (Jersey) Law 1990 ("Désastre Law") expressly provides that "all property" of the debtor vests in the Viscount upon a declaration of désastre, which definition includes "things in action", following submissions from Advocate Edward Drummond of Bedell Cristin on behalf of the Viscount, who administers all désastres in Jersey, the Royal Court held that purely personal claims are excluded from its ambit as a matter of customary law, following venerable English law principles.