First Provisional Liquidators Appointed in Jersey

On 17 July 2025 the Royal Court appointed provisional liquidators over RTI Limited, a company within the Rusal group. This development comes after the Court refused on 12 June 2025 to grant RTI a stay of execution (OWH SE i.L v RTI Ltd 16-June-2025) in relation to either enforcement or asset disclosure, pending RTI's intended appeal against the Royal Court's earlier refusal to set aside enforcement in Jersey of a EUR 213m arbitration award in favour of OWH SE i.L.

The Royal Court has had the ability to appoint provisional liquidators since an amendment to the Companies (Jersey) Law 1991 which came into force three years ago, but this is thought to be the first time that the Court has exercised the power. The Court will be providing a fully reasoned judgment in due course setting out the reasons why provisional liquidators were appointed in this case.

Bedell Cristin acted for OWH SE i.L., alongside the teams at Noerr, Macfarlanes and Fountain Court.