Acting for the Guernsey Milk Retailers Association in the dispute with the Department of Commerce and Employment concerning the proposed repeal of the milk laws. Ozannes successfully persuaded the Department to suspend the proposal and has played a leading role in lobbying the Scrutiny Committee of the States to examine the policies and procedures of the Department. That report is due in January 2006. Watch this space for future developments.
A team led by Jeremy Wessels continue to advise the joint liquidators of eight Guernsey companies forming part of the Flight Lease group of companies which was itself part of the Swiss Air Group. These liquidations have involved a number of complex issues and a number of applications to the Court. In particular Ozannes have recently been assisting the joint liquidators dealing with a number of very large contested claims advanced by a creditor in the liquidation. This has recently led to a strike-out application by the joint liquidators being heard before the Royal Court of Guernsey where claims of over a hundred and ten million US dollars (US$110,000,000) were successfully removed from the liquidation of five companies within the Flightlease group. Subject to further procedural stages, the remaining contested claims are due to come to a hearing before the Royal Court in May 2006 and may involve the determination of combined claims totalling over three hundred and fifty million US dollars (US$350,000,000). The trial of these issues is due to last a month.
Jeremy Wessels continues to advise the Guernsey Financial Services Commission in respect of the affairs of Messenger Insurance PCC Ltd. Although the company was placed into administration with the agreement of its creditors, Ozannes have appeared before the Royal Court on behalf of the Commission whenever issues have subsequently arisen that required determination. The case is believed to be the first occasion in respect of which an administration order has been made concerning a protected cell company and the Commission are taking a very active interest in the proceedings.
Successfully acting for Barclays Bank in proceedings which arose as part of a fraud to which the Bank had been an unwitting party. The matter is likely to be appealed to the Court of Appeal before the end of the year and will be featured in the next newsletter.
Acting for Reliance Insurance Company, one of the creditors in the liquidation of BIGL in successfully resisting a strike-out application brought by another creditor in a 3 day hearing before Lieutenant Bailiff Catherine Newman QC, Ozannes successfully argued for a commercial (not literal) interpretation of certain contractual and arbitration wording.