The Royal Court (Samedi Division) has, for the first time, authorised liquidators to enter into a pre-pack sale under article 155 of the Companies (Jersey) Law 1991: see Representation of the Collections Group [2013] JRC 96. In doing so the court noted the risks involved with pre-pack sales and stressed that it was not directing the liquidators to enter the pre-pack sale but authorising them to do so.
Friday, 31 May 2013
Jersey: Royal Court authorises winding-up and pre-pack sale
The Royal Court (Samedi Division) has, for the first time, authorised liquidators to enter into a pre-pack sale under article 155 of the Companies (Jersey) Law 1991: see Representation of the Collections Group [2013] JRC 96. In doing so the court noted the risks involved with pre-pack sales and stressed that it was not directing the liquidators to enter the pre-pack sale but authorising them to do so.
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