Our website is set to allow the use of cookies. For more information and to change settings click here. If you are happy with cookies please click "Continue" or simply continue browsing. Continue.

Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

15 APR 2009

Royal Court of Guernsey – a new case from a new resource

The Guernsey Government has recently launched a new website (Guernsey Legal Resources) which provides excellent resources across the whole range of materials (legislation, reported decisions, etc). I do not yet have permission to view the full judgment database. Access to view has to be specifically requested. The following tantalising case headnote is however available. I will return to the judgment when (if?!) I get access to the database:

No 3/2009, (14.01.09), Royal Court, Companies (Guernsey) Law, 2008  

Flightlease Holdings (Guernsey) Ltd v Flightlease (Ireland) Ltd

"Both parties are in voluntary liquidation – effect of Plaintiff’s claims for indemnity in respect of liability under guarantees relating to the Defendant’s liability to third party creditors – the rule in Cherry v Boultbee ("the fund ascertainment principle") – review of statutory provisions for liquidation of companies in Guernsey – rule against double-proof – law of set-off in Guernsey and pre-Napoleonic France – law of set-off in Jersey and in Scotland - adoption by Guernsey Law of English equitable principles in appropriate cases – the fund ascertainment principle is to be applied in the circumstances of the present case – ordered that no dividend be paid in the liquidation of the Plaintiff in respect of the Defendant’s agreed claim”
Individual Voluntary Arrangements

Individual Voluntary Arrangements

"This is the ultimate statement of where the law on IVAs is to be found in our great common law...

Available in Insolvency Law Online
Bankruptcy and Personal Insolvency Reports

Bankruptcy and Personal Insolvency Reports

"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...

More Info from £166.00
Available in Insolvency Law Online
Subscribe to our newsletters