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Recognising Jersey’s Viscount

Nicola Roberts discusses the recognition of Jersey’s Viscount by the High Court for the first time in 40 years

18 April 2017

In its recent decision in the Representation of the Viscount [2017] JRC 025, the Royal Court of Jersey has provided a further endorsement of the capability of the Jersey insolvency regime to deal with complex cross-border insolvency. It is the third decision from the court concerning the high-profile insolvency of Jersey company Orb a.r.l and its sole shareholder Dr Gail Cochrane and follows earlier decisions to refuse to place Orb into English law administration and declare the company and Dr Cochrane en désastre (bankrupt). It is estimated that Dr Cochrane and Orb owe creditors the combined sum of £1.3bn.

In this case the Viscount (the official insolvency officeholder of Jersey) sought and was granted two letters of request to be issued by the Royal Court to the High Court of England and Wales requesting its assistance in accordance with section 426 of the Insolvency Act 1986 in respect of each of the d...

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