Royal Court of Guernsey – a new case from a new resource

The Guernsey Government has recently launched a new website (Guernsey Legal Resources) which provides excellent resources across the whole range of materials (legislation, reported decisions, etc). I do not yet have permission to view the full judgment database. Access to view has to be specifically requested. The following tantalising case headnote is however available. I will return to the judgment when (if?!) I get access to the database:

No 3/2009, (14.01.09), Royal Court, Companies (Guernsey) Law, 2008

Flightlease Holdings (Guernsey) Ltd v Flightlease (Ireland) Ltd

“Both parties are in voluntary liquidation – effect of Plaintiff’s claims for indemnity in respect of liability under guarantees relating to the Defendant’s liability to third party creditors – the rule in Cherry v Boultbee ("the fund ascertainment principle") – review of statutory provisions for liquidation of companies in Guernsey – rule against double-proof – law of set-off in Guernsey and pre-Napoleonic France – law of set-off in Jersey and in Scotland - adoption by Guernsey Law of English equitable principles in appropriate cases – the fund ascertainment principle is to be applied in the circumstances of the present case – ordered that no dividend be paid in the liquidation of the Plaintiff in respect of the Defendant’s agreed claim”

Picture Credit: tip to Robert Goddard in relation to this case and this new source. Thanks Robert!