Bedell Cristin success in putting Jersey property companies into English administration
15 October 2020
Leading offshore law firm, Bedell Cristin has acted as Jersey counsel to the corporate directors of three Jersey commercial property holding companies in relation to trading difficulties arising from the coronavirus pandemic, obtaining letters of request to put them into English administration to allow the companies to continue trading despite significant market pressure.
The Bedell Cristin team comprised Jersey litigation partners Edward Drummond, Robert Gardner and associate Jordan Constable, with financial services support from global managing partner Tim Pearce and senior associate Antony Clerehugh.
Edward Drummond commented that "We were very pleased to act for the group and successfully place the companies into an English law administration process to allow them to continue trading. During unprecedented market conditions, companies need to act early if they are to identify and find solutions to creditor or lender pressure which they would ordinarily be able to weather, but handicapped by coronavirus, may cause irrecoverable difficulties for them. Our market-leading team of insolvency experts are on hand to provide advice and consider creative solutions to navigate difficult conditions and lead companies to calmer waters."
Simon Burgess of Ocorian, which provide the corporate directors to the Jersey companies, added that "The team at Bedell Cristin provided clear and commercial advice which allowed the companies to overcome trading difficulties which might otherwise have resulted in their breakup and sale. We found the team very responsive and on-the-ball, and were impressed by its ability to manage corporate service providers, restructuring practitioners, and English counsel while successfully delivering clear objectives in Jersey."
The judgment can be found here.