Jersey Unreported Judgments
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URL: http://www.bailii.org/je/cases/UR/2008/2008_174.html
Cite as: [2008] JRC 174
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You are here: BAILII >> Databases >> Jersey Unreported Judgments >> In the matter of Buchannan Smith Ltd [2008] JRC 174 (06 October 2008) URL: http://www.bailii.org/je/cases/UR/2008/2008_174.html Cite as: [2008] JRC 174 |
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[2008]JRC174
royal court
(Samedi Division)
6th October 2008
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Before : |
F. C. Hamon, O.B.E., Esq., Commissioner, and Jurats de Veulle, and Le Breton. |
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Between |
(1) Tom, Richard, Seamus, Patricia, Ann, Elizabeth, Raymond, John, Brendan, Sally, Oliver, Kevin and Noel Nolan (trading as The Nolan Family Partnership) |
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(2) Serene Investments Limited |
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(3) Bilberry Investment Holdings Limited |
Applicants |
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And |
Buchanan Smith Limited |
Respondent |
IN THE MATTER OF BUCHANAN SMITH LIMITED (DESASTRE APPLICATION)
Advocate E. C. P. Mackereth for the Applicants.
Advocate A. D. Hoy for the Respondent.
Advocate D. R. Wilson for the Viscount's Department.
judgment
the commissioner:
1. We have tried everything to alleviate the problems of the Viscount which, in the light of the structures of the Arkaga Group will be severe.
2. The application was initially brought before this Court on the 12th September, 2008, when, at the request of the parties, it was adjourned to the 19th September. At that hearing the matter was adjourned to the 29th September and the parties again decided to adjourn until today in the anticipation that matters might be resolved.
3. Apparently it was not to be and as long ago as the 28th July, 2008, Mr Justice Tomlinson, sitting as a single judge, found that the sum of £1,522,518 was due by the debtor and he granted an interim payment order in respect of it. The learned judge also found that the company's solicitors had, on several occasions, acknowledged that the debt was due, in correspondence.
4. The application is straightforward, although the asset structure of the company is complicated, and it is for that reason that delays have followed on delays. We appreciate that £20,000 has been paid in already to the Viscount's Department. We are going to grant the désastre and it is on the understanding, and the order, that the Viscount will be indemnified against the costs of the désastre in full and if the Viscount requires more money on escrow, he will ask for it, and it will be paid.