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The draft Banking Business (Amendment No. 8) (Jersey) Law 201- has been adopted by the States of Jersey and is awaiting the approval of the Privy Council
With the continuing development of sophisticated cross-border financial transactions, certain contractual practices have evolved and, with the passage of time, become recognised as standard in the relevant marketplace
This the latest decision of the Royal Court in relation to an application by a UK creditor (a bank) for a letter of request to be issued to the English High Court requesting that an administration order be made in respect of a Jersey company
The Banking Business (Depositors Compensation) (Jersey) Regulations 2009 came into force on 6 November 2009, establishing a compensation scheme providing individual depositors with protection of up to £50,000 per person, per Jersey banking group, in the event of the bankruptcy of a Jersey bank
