key takeaways
Aquapoint LP v Fan [2025] UKPC 56
Introduction
What section 380A means for administrators
We recently achieved a significant milestone by obtaining permission from the Royal Court of Guernsey for Joint Administrators to make a distribution to unsecured creditors during an administration. This marks the first order granted under section 380A of the Companies (Guernsey) Law, 2008.
This article first appeared in Volume 22, Issue 6 of International Corporate Rescue.
Synopsis
KEY TAKEAWAYS
key takeaways
KEY TAKEAWAYS
- The application process and evidence required by the JFSC for a migration
- Consideration of a migration application by the JFSC
- Effects of granting a certificate of continuance and a migration overseas
The object of this guide is to provide clients of Walkers with information on the process involving the migration of companies to and from Jersey.
Migration to Jersey
Key takeaways
On November 11, 2022, the world’s second-largest cryptocurrency exchange FTX Trading Ltd. filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-11068). The company reports $10 to $50 billion in both assets and liabilities and intends to place an additional, approximately 130 affiliates into bankruptcy.
On November 7, 2022, cloud manufacturing and digital supply chain company Fast Radius, Inc. of Chicago, IL filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-11051). The company reports $69.3 million in assets and $55.2 million in liabilities.