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   Home > The Commission > General Information > Press Releases > 14 July 2008

PRESS RELEASE 14 July 2008

COMMISSION APPOINTS INSPECTORS UNDER THE COMPANIES LAW TO INVESTIGATE TWO JERSEY INCORPORATED COMPANIES

Further to an application made by the Registrar of Companies on 9 July 2008, the Board of Commissioners of the Jersey Financial Services Commission has appointed Inspectors under Article 128 of the Companies (Jersey) Law 1991, as amended (“the Companies Law”), to investigate the affairs of two Jersey incorporated companies.

In seeking the appointments, it has been brought to the attention of the Registrar of Companies that Meinl European Land Limited (“MEL”), a Jersey public incorporated company currently listed on the Vienna Stock Exchange, is alleged to have, inter alia, acted in contravention of the Companies Law insofar as it is alleged to have provided financial assistance to itself to purchase its own shares in contravention of Article 58 of the Companies Law.  Meinl European Real Estate Limited (“MERE”) is a Jersey private incorporated company whose function is to act as Manager to MEL.

The Inspectors will now commence a thorough investigation into the activities of MEL and MERE and produce a report of their findings.

Any person who has information which they consider to be relevance to the Inspectors appointments is requested to contact the Inspectors below.   

- Ends -

For further information please contact: -

Barry K. Faudemer
Tel: + 44 (0) 1534 822137
Fax: + 44 (0) 1534 822001
Email: b.faudemer@jerseyfsc.org

Jason P. Carpenter
Tel: + 44 (0) 1534 822019
Fax: + 44 (0) 1534 822001
Email: j.carpenter@jerseyfsc.org

 

Notes to Editors.

Pursuant to Article 128(1) of the Companies Law the Commission may appoint one or more competent inspectors to investigate the affairs of a company and to report on them as the Commission may direct.

 

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