PREFACE
Insolvency is a major commercial risk. Prudent creditors are
able to protect themselves against the potential risk of a
debtor's insolvency by taking security, thereby obtaining
priority over other creditors.
This Guide provides an overview of the process of taking
security or enforcing security over Guernsey assets which will be
subject to the laws of Guernsey.
This Guide focuses on the legislative and regulatory framework
for taking of security over both real (or
"immovable") and personal (or
"moveable") property, the methods by
which a creditor may register a charge, the rights of foreign
creditors and enforcement of claims by secured creditors in
Guernsey.
Also discussed are the methods by which a creditor may enforce
security granted pursuant to an instrument governed by a law other
than that of Guernsey. It is recognised that this Guide will not
answer the detailed questions that clients and their advisers may
have. It is intended to provide an
