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

In Bolwell & Anor v NWC Finance Pty Ltd & Ors [2024] VSC 30, the Supreme Court of Victoria clarified that a lawyer will not be a "controller" of property within the meaning of section 9 of the Corporations Act 2001 (Cth) (the Act) simply because it was retained to act for a mortgagee exercising their power of sale.

This judgment provides comfort to lawyers as it confirms that they will not assume the obligations of a "controller" under the Act solely by reason of them acting in connection with the sale of real property in an insolvency context.

The England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a 2020 innovation in UK insolvency law, as described in our earlier alert.