2000/4
3 pages
ROYAL COURT
(Samedi Division)
17th January, 2000
Before: F.C. Hamon, Esq., Deputy Bailiff,
and Jurats Rumfitt and Allo
In the matter of the bankruptcy of F & O Finance A.G.
Representation of Urs Burgi, Trustee in Bankruptcy.
Application for an Order in aid by the Representor.
Advocate M.H.D Taylor for the Representor.
JUDGMENT
DEPUTY BAILIFF: This is a request from Mr. Urs Burgi, an Attorney in a Swiss firm of lawyers based in Zurich. He was appointed Trustee in Bankruptcy to a firm F & O Finance AG. That company was incorporated in Zurich. Mr. Burgi's appointment has been confirmed by the County Court of Zurich on 26th October, 1998.
There is an account in Jersey which has been identified as belonging to the company. It was placed with Lazard Brothers & Co (Jersey) Limited, whose activities are now performed under the name Standard Bank Channel Islands Limited.
When Mr. Burgi duly made a request to Lazards, as it then was, that bank replied that it could not comply with the request as Lazards is not subject to the jurisdiction of the Swiss courts and it is this matter which Mr. Taylor has brought before us this morning.
In Dessain & Wilkins Jersey Insolvency Law in Practice we found this:
"Foreign insolvency officials need to have authority to act in this jurisdiction and an application to the Royal Court is the usual procedure.
...
The Royal Court is likely to recognise the appointment of a foreign insolvency office holder administering a bankruptcy which has arisen in a foreign jurisdiction where there is a valid connection between the debtor and the law under which the insolvency occurred. The Royal Court is likely to assist such office holder in such circumstances and will prevent a third party from purporting to act on behalf of the debtor within the jurisdiction in order to preserve the position in relation to the debtor's property in Jersey."
We say that because, as Mr. Taylor has pointed out to us, and again reading from the same work:
"The countries so far prescribed are those which have, within their own domestic insolvency regimes, offered reciprocal treatment to Jersey. As to requests for assistance from the courts of countries or territories not prescribed under the 1992 Rules, as already stated, the Désastre Law is ancillary to, and not in substitution for, the customary or common law: it seems clear, therefore that the Royal Court remains free to exercise an inherent jurisdiction to assist non-prescribed countries, outside the application of Article 48 of the Désastre Law."
In his affidavit sworn in Zurich on 14th December, 1999, Mr. Burgi said this as part of his affidavit:
"I can confirm, that the Court of the Canton of Zurich would recognise a similar request from the Jersey Court."
We draw confidence from that statement. We can see no reason why this application should not be granted. There are very good reasons why it should and these are all set out in Mr. Burgi's detailed and helpful affidavit.
Therefore, exercising our discretion in this matter, we grant the Prayer of the Representor in all its terms.
Authorities
Dessain & Wilkins: Jersey Insolvency Law in Practice: pp. 103-9.