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Bisson -v- Barker, P. Bish, H. Bish and Viscount 2008 JLR N[46]

This decision addresses the court's powers to order the winding up of a company on just and equitable grounds pursuant to Article 155 of the Companies (Jersey) Law 1991.
The company in question (the "Company") had operated two businesses in the Island. Relations between certain of the shareholders, involved in the management of the two businesses, broke down, such that it became impossible for them to continue to work together.

The Viscount

On 4 March 2009, the Office of Public Sector Information published the Bank Insolvency (England and Wales) Rules 2009 (the Rules) and accompanying explanatory memorandum. The Rules came into force on 25 February 2009 and give effect in England and Wales to the new bank insolvency procedure under Part 2 of the Banking Act 2009.

Liquidators will welcome the recent decision of the Director of Corporate Enforcement to reduce their reporting requirement in cases where a decision has been definitively made either to relieve or not relieve them of their statutory obligation to take restriction proceedings against a company's directors.