Is Administration The New Liquidation?

In answer to the question, "not quite". The use of Administration in Gibraltar for insolvent companies is a fairly recent, and in the case of insurance companies, an innovative use of this insolvency procedure. Indeed, Administration as a legal construct is relatively new in Gibraltar and was first introduced by the Insolvency Act 2011. The first regulated entity to have taken advantage of the Administration route was Horizon Insurance Company Limited (in December 2018).

Most recently, on the 23rd January 2020, the Supreme Court of Gibraltar appointed Grant Jones and James Oton of Simmons Gainsford as Joint Administrators of Quick-Sure Insurance Limited (Quick-Sure), an insurance company domiciled and regulated in Gibraltar.