Developments In Guernsey Corporate Insolvency Law

There have been a number of recent developments in the area of corporate insolvency law which will impact on Guernsey insolvency procedures. The purpose of this eAlert is to highlight those developments and provide a brief summary of the consequent effects for Guernsey insolvency practitioners and other key stakeholders.

Review of Corporate Insolvency Law in Guernsey

The Commerce and Employment Department has formed a working committee comprised of local insolvency practitioners and lawyers to review Guernsey's insolvency laws, both personal and corporate. At present Guernsey's corporate insolvency law is primarily contained within The Companies (Guernsey) Law 2008 (Companies Law), as amended. The need for a more comprehensive corporate insolvency regime has long been a goal of insolvency practitioners in Guernsey, particularly given the increasing number of insolvency processes and the number of related matters coming before the Royal Court. The goal of the