Carey Olsen’s Dispute Resolution Group has successfully secured orders on two separate applications under Guernsey’s Protection of Investors and Company Law legislation to place two regulated entities into administration and one company into compulsory liquidation.
Managing Partner, Advocate John Greenfield, and Senior Associate, Tim Bamford, acted for the Guernsey Financial Services Commission on both applications.
The three companies which were the subject of the applications are part of the Providence investment group. The Commission held concerns about the operation and financial position of the Providence group, including in relation to investor funds placed into a locally based investment fund in the group. The Commission instructed Carey Olsen to present the two applications to secure urgent protection for investors and the wider public under the relevant statutory regimes.
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