JERSEY Law and Practice Contributed by: Amy Benest, William Redgrave, Jared Dann and Lynne Gregory, Baker & Partners
Baker & Partners Midland Chambers 2-10 Library Place St Helier Jersey Channel Islands JE1 2BP Tel: +44 1534 766 254 Email: enquiries@bakerandpartners.com Web: www.bakerandpartners.com
1. Identifying Assets in the Jurisdiction 1.1 Options to Identify Another Party’s Asset Position It is important to understand the debtor’s assets within the jurisdiction against which the creditor might seek to enforce its judgment. As discussed below, disclosure orders may be obtained from the court to support enforcement of a judgment. If it is necessary to obtain a freezing order to protect assets, accompanying disclosure orders will also be made which may require a defendant to give disclosure of their assets held worldwide. It is common practice for banks or financial institutions to be joined as parties to the freezing orders as a “Party Cited”, against whom disclosure orders will also be made in order for them to be compelled to give dis - closure of the defendant’s assets. The Party Cited will be required to maintain the freeze on any identified accounts pending further order of the court. Disclosure orders may also be sought against third parties, such as search orders and Norwich Pharma- cal orders. As a general rule, pre-action disclosure is not available in Jersey. Norwich Pharmacal orders, which require a third party to provide disclosure, are a useful tool when gathering information before issuing proceed - ings against the defendant debtor. In order to obtain
a Norwich Pharmacal order, the plaintiff will need to show that: • there is a good arguable case that the plaintiff is a victim of wrongdoing; • there is a reasonable suspicion that the third party has been mixed up in the wrongdoing; and • it is in the interests of justice for the court to exer - cise its discretion to order the third party to provide disclosure. Identifying a debtor’s assets in Jersey can be diffi - cult due to banks and trustees, etc, owing duties of confidentiality to their clients and/or beneficiaries. As one might expect for a mature and well-regulated off - shore finance centre, beneficial ownership information is collated but not always available to the public. However, the following registers are available from which information may be gathered. • Jersey Public Registry relating to immovable property – Jersey’s Registry is one of the oldest in Europe, which was created by an Act of the States in 1602. All contracts effecting title of immoveable land in Jersey, including registration of charges on the property are passed before the Royal Court and then recorded in the Registry and are search - able. Where property is owned by a company and a sale of units within the property is effected by way of “share transfer”, those transactions are not recorded in the Registry.
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