Montpelier (Trust & Corporate) Services Limited (“Montpelier”) – Application for Winding-up
On 7 October 2019, following an application by the Isle of Man Financial Services Authority (the “Authority”), the Isle of Man High Court made an order that a manager, receiver and inspectors be appointed in respect of Montpelier. Details of those appointments are set out below.
On 22 January 2020 the Authority issued a claim form in the Isle of Man High Court seeking an order that Montpelier be wound-up in the public interest. In accordance with the Winding-Up Rules 1934, notice of that claim (the “Notice”) was published in two Isle of Man newspapers. The Notice included that the Claim was to be heard before the Court on 20 February 2020 (reference number 2020/05) and that “… a copy of the Claim Form will be furnished to any creditor or contributory of Montpelier requiring the same by the below named Advocate on payment of the regulated charge for the same.” The Advocate named was:
Walter Hugh Wannenburgh
H.M. Solicitor General
Attorney General’s Chambers
34-44 Circular Road
Douglas IM1 1AE
Following a directions hearing on 20 February 2020, the Claim has been listed for hearing at 10 a.m. on 28 and 29 May 2020 before His Honour Deemster Khamisa.
Montpelier continues to be licensed to conduct business under Class 4 (corporate services) and Class 5 (trust services). Details of Montpelier‘s licence can be found on the Authority’s register here.
The Authority makes this public statement under section 13(4) of the Financial Services Act 2008 on the ground that it is desirable in the public interest to do so. A copy of this public statement has been sent to Montpelier.
If you have any questions regarding the Court’s decision, please contact email@example.com or your usual contact at Montpelier. If you wish to contact Gordon Wilson (the manager and receiver), please do so on firstname.lastname@example.org.
Details of appointments made by Order of His Honour Deemster Khamisa QC dated 7 October 2019 (which appointments remain in force)
Mr Gordon Wilson of CW Consulting Limited, Third Floor, 15-19 Athol Street, Douglas, Isle of Man, IM1 1LB is appointed as receiver in respect of MTCSL pursuant to section 21 of the Financial Services Act 2008;
Mr Gordon Wilson of CW Consulting Limited, Third Floor, 15-19 Athol Street, Douglas, Isle of Man, IM1 1LB is appointed as manager in respect of MTCSL pursuant to section 22 of the Financial Services Act 2008;
Mr Adrian Hyde and Mr Robert Starkins of CVR Global LLP, 20 Furnival Street, London EC4A 1JQ are appointed as inspectors to investigate certain matters relating to MTCSL pursuant to section 5 of the Companies Act 1974.
A copy of the Authority’s update published on 5 November 2019 in relation to Montpelier is available here.
A copy of the Authority’s update published on 12 February 2020 after the Appeal Court dismissed Montpelier’s appeal against the above appointments is available here.