The Royal Court of Jersey has handed down a judgment which materially contributes to the use of court-appointed receiverships in the island.

In what is believed to be a first, offshore law firm Collas Crill successfully applied for the appointment of Alan Roberts and James Toynton of Grant Thornton (the receivers), in order to recover the sums due under a promissory note, with a face value in excess of €52,000,000 as part of the well-publicised Crociani saga.

The receivers’ appointment led to a world-wide enforcement effort, with the receivers coordinating cross-border legal actions and carrying out investigative an...