GUERNSEY, England - (Business Wire) On the 17th March 2008, before the Royal Court of Guernsey, an order was granted placing CCC into compulsory liquidation under section 94(a) of the Companies (Guernsey) Laws 1994 as amended pursuant to a special resolution of members. Mr Alan Roberts and Mr Neil Mather, both of Begbies Traynor, were appointed joint liquidators of CCC and duly sworn into office on that day.

On the 18th March, 2008, the Royal Court in Guernsey approved the appointment of two additional liquidators, Mr Chris Morris and Mr Adrian Rabet, both also of Begbies Traynor.

Under Guernsey law, the Liquidators are now responsible for realising the assets and establishing the liabilities of CCC and are legally empowered to act on its behalf in those connections. All powers of the directors to act on behalf of CCC, except as may be expressly permitted by the Liquidators from time to time, have now ceased and CCC has ceased to undertake business.

Given the circumstances the Liquidators have requested that the Netherlands Authority for the Financial Markets in the Netherlands suspend trading of shares in CCC with immediate effect and until further notice. The decision of that authority is pending.

Section 80 of the Companies (Guernsey) Laws 1994 as amended provides that any transfer of a company's shares after the commencement of a voluntary winding up, other than a transfer made to or with the sanction of the liquidator, is void. There is no equivalent provision of the Companies (Guernsey) Laws 1994 as amended applicable to companies in compulsory winding up. Accordingly, there remains some uncertainty as to whether any transfer of a company's shares after the commencement of a compulsory winding up, other than a transfer made to or with the sanction of the liquidator, would also be regarded as void. Anyone dealing in the shares of CCC should take their own legal advice.

On 17 March 2008 the management of Euronext Amsterdam N.V. announced that as from 18 March 2008 prices and volumes relating to the ordinary shares of CCC will be reported in the special section for securities subject to a listing measure, with reference to the press release of CCC of 16 March 2008. that measure was to conform with Rule A - 2706/1 Euronext Rule Book, Book II and Euronext announcement 2003-058 and 2004-013. The measure will endure for a maximum of one year.

The Liquidators have given an address for any formal service of proceedings relating to the liquidation in Guernsey at the offices of the Liquidators’ legal advisers, Bedell Cristin, La Plaiderie House, La Plaiderie, St Peter Port, Guernsey GY1 1WG.

The Liquidators request that creditors' claims should be submitted to them as soon as possible at the address indicated below and that anyone who holds assets of CCC deliver them to the Liquidators forthwith.


See Original Article

We can help keep your company trading, call now for more information.

Call us on: 0800 071 1616

Email us on: info@debtsgone.co.uk

Website: www.debtsgone.co.uk