ROYAL COURT OF JERSEY
RC17/12
Applications for a Remise de Biens
With effect from the date of this
Practice Direction, an application for a Remise de Biens pursuant to the Loi
(1839) sur les Remises de Biens (the “1839 Law”) must contain the facts and information
specified in this Practice Direction.
An Application must be made
by way of Representation with a supporting affidavit, which should disclose all
facts and circumstances relevant to the application. The Applicant must demonstrate good faith in
making the application. The Applicant in
the affidavit relied on must provide the information set out in the schedule to
this practice direction showing all their movable and immovable
property in Jersey or elsewhere and whether in
their own name, joint names or someone else’s name, and all debts and
liabilities.
The Application must set out
why the applicant believes there is a reasonable expectation that the proceeds
of sale of the Applicant’s property will be sufficient to repay all the secured
creditors in full and leave some surplus for distribution among the unsecured
creditors
Where the application is
based on assets being worth a specified figure, the application should if
possible be supported by independent evidence, from an appropriately qualified person. If the application is not so supported, the
Court will be more likely to reject that application immediately.
The Applicant must acknowledge within
the Application that:
·
in the event of the application being
granted, their property, immovable and movable, wherever situated, will be
placed in the hands of the Court (entre
les mains de la Justice);
·
the appointed Jurats are authorised to
lease, sell, alienate or otherwise dispose of enough of the debtor’s property
to pay the outstanding debts and that the debtor will co-operate with the
Jurats in the fulfilment of their duties;
·
the appointed Jurats will have a
wide discretion in fulfilling their duties.
This includes a discretion not only as to which property is to be sold,
and in what order, but also in relation to the admission and settlement of
claims both secured and unsecured.
·
if the application fails a dégrèvement
and réalisation or a désastre may then be ordered by
the Royal Court
The documents supporting the Application
to Court must be provided to the Bailiff, the Judicial Greffier, the Viscount and
any secured creditor at least 48 hours’ prior to the Application being
presented to the Court.
Other than in exceptional circumstances,
the Applicant must be present in court when the Application is made.
Notwithstanding the terms of Article 2
of the 1839 Law, the Jurats may ask the Court or the Bailiff in Chambers to
grant an extension to the time period within which they must prepare their
report into the affairs of the debtor.
This Practice Direction will take effect
on 15th June, 2017.
Schedule of Assets and Liabilities
Summary of Assets
Description Estimated value
(in respect of immovable property
include current valuations)
Summary of Secured Loans/judgments
Description:
Name of secured lender
Property against which the loan is
secured
Date of secured claim
Outstanding debt claimed by the creditor
(capital, interest and costs)
Amount of accrued interest and the
period against which it has accrued (if available)
Daily interest accruing (if available)
Summary of unsecured liabilities
Description Amount
(Please include the name and contact
details of the affected creditors)