Bordeaux Services (Guernsey) Limited
31st July 2015Pursuant to section 1(1) of the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance, 2008 on 31 July 2015 the Commission successfully made an application to the Royal Court of Guernsey, Ordinary Division, for an Administration Order to be made in respect of the affairs, business and property of Bordeaux Services (Guernsey) Limited (“Bordeaux”).
The application was made due to the decision of Mr Terence Mowschenson QC, acting as a senior decision maker of the Commission, to prohibit the two remaining directors and controllers of Bordeaux Services (Guernsey) Limited from acting as controller, partner, director or manager for five years in respect of business that falls within: -
• The Protection of Investors (Bailiwick of Guernsey) Law, 1987,
• The Banking Supervision (Bailiwick of Guernsey) Law, 1994,
• The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (“the Fiduciaries Law”),
• The Insurance Business (Bailiwick of Guernsey) Law, 2002, and
• The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002.
The decision was in respect of Bordeaux’s Directors’ (Peter Gordon Radford, Neal Anthony Meader, and Geoffrey Robert Tostevin) behaviour in relation to Arch Guernsey ICC Limited. The decision further extended to the disapplication of the exemption set out in section 3(1)(g) of the Fiduciaries Law in respect of Messrs Radford, Meader and Tostevin.
The application was made due to the decision of Mr Terence Mowschenson QC, acting as a senior decision maker of the Commission, to prohibit the two remaining directors and controllers of Bordeaux Services (Guernsey) Limited from acting as controller, partner, director or manager for five years in respect of business that falls within: -
• The Protection of Investors (Bailiwick of Guernsey) Law, 1987,
• The Banking Supervision (Bailiwick of Guernsey) Law, 1994,
• The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (“the Fiduciaries Law”),
• The Insurance Business (Bailiwick of Guernsey) Law, 2002, and
• The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002.
The decision was in respect of Bordeaux’s Directors’ (Peter Gordon Radford, Neal Anthony Meader, and Geoffrey Robert Tostevin) behaviour in relation to Arch Guernsey ICC Limited. The decision further extended to the disapplication of the exemption set out in section 3(1)(g) of the Fiduciaries Law in respect of Messrs Radford, Meader and Tostevin.