On 11 February 2016 the States of Guernsey Commerce and
Employment Department ('Department') published a
consultation response document ('Response Paper') setting
out proposed changes to Guernsey's insolvency regime. Following
a review of responses received from industry, legal associations,
individuals and individual firms ('Respondents') the
Department has divided the proposed reforms into two phases. The
first phase includes those projects that the Department will be
taking forward. The second phase is made up of projects that the
Department would like to take forward or consider in the
future.
The Department examined proposed changes to both personal and
commercial insolvency provisions as well as some issues that affect
both. For the purposes of this article we will focus on the key
proposed changes to the commercial insolvency regime. The proposed
changes represent a fairly radical amendment to the current regime
and will provide greater certainty regarding
