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Important development in Guernsey litigation costs recovery

May 2013 - Finance. Legal Developments by Bedell Cristin.

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Ability to order interim payments on account of costs confirmed

In re B; B v T (Court of Appeal, 11 July 2012)

April 2013 - Finance. Legal Developments by Ogier .

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A trustee's duty of confidentiality has recently been discussed and to some extent clarified in the recent Guernsey Court of Appeal decision of In re B; B v T (Court of Appeal, 11 July 2012). This summary has been prepared to provide you with a summary of the case as well as the general issues raised, but is not intended to cover all matters or to provide commentary.  This summary does not constitute legal advice.

Royal Court Civil Proceedings - A Shift From Ladbroke on External Lawyers' Fees?

March 2013 - Litigation & Dispute Resolution. Legal Developments by Mourant Ozannes.

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The limits of cost recovery in Guernsey litigation is an ever present issue for clients. It is even more acute where external lawyers are engaged because of the need for specialist assistance. This article explores those limits, with a focus on external lawyers' fees and the leading 2008 case of Ladbrokes PLC v Galaxy International Ltd.

The Company Administration Regime in Guernsey

March 2013 - Finance. Legal Developments by Ogier .

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Introduction 

The Companies (Guernsey) Law, 2008 ("Companies Law") provides for companies, protected cell companies ("PCCs"), incorporated cell companies ("ICCs") and cells of PCCs and ICCs to be placed into administration and for an administrator to be appointed to manage that entity's affairs whilst the administration order remains in force.  The concept of administration in Guernsey was first introduced for PCCs only in 1997 but has expanded its scope to cover all other types of company that can be registered in Guernsey.  Administration, like the equivalent procedure in other jurisdictions, provides insolvent companies with a breathing space in order to maximise realisations and asset values without increasing liabilities, which, in turn, favours creditors.  However it is important to note, at the outset, that there are substantive differences from a creditor's perspective between the process in Guernsey and, for example, England. 

Pursuant to section 374 of the Companies Law, a company, PCC, ICC or cell may be placed into administration by the Royal Court upon the application of certain parties.  During the term of the administration order, the affairs, business and property of the company are managed by an administrator who is appointed by the court for that purpose.  The Royal Court will only make an administration order if various requirements are fulfilled.  These are that the entity in question must fail or be likely to fail the "solvency test" as set out in section 527 of the Companies Law, and that one or both of the purposes of administration (as set out below) may be achieved by the making of the administration order.  For the rest of this note, and for the sake of brevity, the term "company" also refers to PCCs, ICCs and their cells, unless otherwise stated.

Proposed changes to Guernsey Insolvency Laws

January 2013 - Corporate & Commercial. Legal Developments by Mourant Ozannes.

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The Guernsey States of Deliberation have approved changes to the Companies (Guernsey) Law, 2008 which include several key changes affecting insolvencies in Guernsey.The Guernsey States of Deliberation have approved changes to the Companies (Guernsey) Law, 2008 which include several key changes affecting insolvencies in Guernsey.

Guernsey Foundations

January 2013 - Tax & Private Client. Legal Developments by Mourant Ozannes.

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A summary of the key aspects of the Foundations (Guernsey) Law, 2012. 

Guernsey Image Rights Legislation

December 2012 - Finance. Legal Developments by Ogier .

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The Image Rights (Bailiwick of Guernsey) Ordinance 2012 (the Ordinance) and The Image Rights (Bailiwick of Guernsey) Regulations, 2012

Guernsey Foundations

November 2012 - Finance. Legal Developments by Ogier .

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The Foundations (Guernsey) Law, 2012 (Law) is awaiting Royal assent, expected to be given by the end of the year or early next year. Whilst Guernsey is not the first jurisdiction to provide for foundations, the Law does provide a number of unique options for individuals wishing to take advantage of the benefits provided by foundations. The purpose of this note is to provide both a general summary of the features of a Guernsey foundation, as well as a summary of these unique options that will be available under the Law.

Competitive Guernsey

October 2012 - Corporate & Commercial. Legal Developments by AFR Advocates.

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Guernsey has been considering the introduction of local competition law since at least 2005 and by bringing into effect The Competition (Guernsey) Ordinance, 2012 on 1 August 2012, has introduced an effective Competition Law regime, to regulate the same 3 core areas recognized in most competition regimes, namely the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions.

Non-charitable purpose trusts in Guernsey

September 2012 - Finance. Legal Developments by Mourant Ozannes.

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Guernsey law permits a purpose trust to be established with a particular purpose stated in the trust instrument and for which there are no ascertainable beneficiaries.

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