Guide To Corporate Administration Orders In Guernsey

1. INTRODUCTION

The corporate administration regime in Guernsey is contained in the Companies (Guernsey) Law, 2008, as amended (Companies Law) and is an important insolvency process available to companies, Protected Cell Companies (PCCs), Incorporated Cell Companies (ICCs) and an incorporated cell of an ICC. It is particularly useful where companies are suffering temporary financial difficulties and need a period of respite from creditors in order to implement a rescue plan to survive as a going concern. A number of recent cases, which have come before the Royal Court, demonstrate the flexible and pragmatic nature of the regime.

2. WHEN MAY AN ADMINISTRATOR BE APPOINTED UNDER GUERNSEY LAW?