A Carey Olsen dispute resolution and litigation team worked has worked on the first application for administration since changes to Jersey’s decades-old companies law came into force earlier this year.
The team, which was led by partners Marcus Pallot and Jeremy Lightfoot – supported by counsel Eleanor Davies, associate Rebecca Guéno and trainee Alexander Touzel – represented LIV Golf Investments Ltd and LIV Golf Holdings Ltd.
Corporate assistance was provided by partner Kate Andrews and counsel Rebecca McQuillan of Carey Olsen’s debt and restructuring team.
The Carey Olsen teams worked alongside teams from Gibson Dunn in the US and UK. Andy Wood of Teneo and Alastair Beveridge of AlixPartners were appointed as joint administrators.
The administration order came in the wake of amendments to the Companies (Jersey) Law 1991 that took effect in June.
External Relations Minister Ian Gorst has previously explained that this included new provisions enabling enable a distressed company to apply to the Royal Court for an administration order and the appointment of an administrator, “where there is a likelihood that the company can be rescued or that there could be a more advantageous realisation of the company’s assets than would be achieved in a winding up”.
