Changes in Guernsey's Insolvency Law have been approved by
the island's government, the States of Guernsey.
Amendments to the island's 2008 Companies (Guernsey) Law
will make Guernsey an even more desirable forum for insolvency
proceedings, says Guernsey lawyer Alex Horsbrugh-Porter, Counsel at
law firm Ogier.
"The new legislation is set to modernise Guernsey
insolvency law, bringing the jurisdiction into line with not only
the UK, but other offshore jurisdictions such as the British Virgin
Islands and the Cayman Islands," he said.
The changes will affect all new liquidations and administrations
and will come into force when regulations to that effect are made
by the States Committee for Economic Development.
