Introduction

Alan Roberts (the Liquidator) was the liquidator of both Kingston Management (Guernsey) Limited (KMGL) and Amazing Global Technologies Limited (AGTL).  He was appointed on 27 May 2009 and 31 May 2010 respectively. 

Introduction

If a company is insolvent, it is either not able to pay its debts as they fall due, or its assets are less than its liabilities.  An investor/creditor will have the ability to put the company into a formal insolvency procedure and, in most cases, appoint an independent third party to take control of the assets and investigate the conduct of the company’s directors, managers and other controlling functionaries.  Defined terms in this article are the same as the terms which were defined in the potential causes of action article.

(Judgment 3/2009)  

The liquidators of Flightlease (Guernsey) Limited (“FLGL”) applied to the Court for an order that no dividends be paid in the liquidation of FLGL to Flightlease (Ireland) Limited (“FLI”) in respect of guarantees given by  

FLGL in respect of FLI’s liabilities. FLI’s liabilities to FLGL were outweighed by the liabilities owed in the opposite direction.