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Press Release - 18 July 2001

Commission Petitions Court For The Appointment Of A Manager

The Jersey Financial Services Commission petitioned the Royal Court on Jersey on Thursday 12th July 2001, to appoint a manager in accordance with the powers vested in it under Article 10A of the Financial Services (Jersey) Law 1998.

The provision enables the Court to appoint a manager to secure the effective management of a trust company business.

The petitions on 12th July 2001, related to Oceanic Trust Company (Jersey) Limited, Chimel Trustee Company Limited and Rroyds Management Services Limited which are trust company businesses and to that part of Michel & Co which may have been conducting trust company business. Two partners from PriceWaterhouseCoopers have been appointed by the Royal Court as Managers of those companies and to that part of Michel & Co which may have been conducting trust company business.

Queries should be addressed to:-

The Managers,
Mr L P C Taylor and Mr D P Sutcliffe, PriceWaterhouseCoopers,
22 Colomberie,
St Helier,
Jersey, JE1 4XA.

Telephone 01534 838261.

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