Ogier acts for joint liquidators of Maplecross Properties Limited in complicated liquidation

Ogier acts for joint liquidators of Maplecross Properties Limited in complicated liquidation

An Ogier team, led by partners Sandie Lyne and Mathew Newman, has acted for the joint liquidators of Maplecross Properties Limited in a complicated liquidation involving international sanctions-related issues.

The Libyan Investment Authority (the LIA) is subject to international sanctions as implemented in Guernsey, by which its overseas property remains frozen.

Ogier represented the joint liquidators in the application to the Royal Court of Guernsey for guidance in relation to making a distribution to certain receivers appointed over the property of the LIA in England, which receivers had been discharged subsequent to English proceedings determining which parties were in control of the LIA.

The company has now been dissolved following payment to the shareholders and a successful completion of the liquidation.