28 April 2021

A guide to restructuring and insolvency in Guernsey: overview (PLC Chapter)

Lawyers from our restructuring and insolvency practice have drafted these Q&As, which give a structured overview of key practical issues concerning restructuring and insolvency in Guernsey.

Forms of security

  • Immovable property
  • Movable property

 

Creditor and contributory ranking

  • Pari passu principle
  • Order of priority on a liquidation
  • Order of priority on an administration
  • Secured creditors

 

Unpaid debts and recovery

  • Compromise or arrangement
  • Debt recovery proceedings
  • Restructuring
  • Set-off

 

State support

Rescue and insolvency procedures

  • Administration
  • Compulsory liquidation
  • Voluntary liquidation

 

Stakeholders' roles

  • Administration and compulsory liquidation
  • Voluntary liquidation

 

Liability

  • Director
  • Partner
  • Parent entity (domestic or foreign)
  • Other party

 

Setting aside transactions

  • Preferences
  • Fraudulent dispositions
  • Dispositions by insolvent companies

 

Carrying on business during insolvency

  • Administration
  • Compulsory and voluntary liquidation

 

Additional finance

  • Administration
  • Compulsory and voluntary liquidation

 

Multinational cases where there are no applicable EU or international frameworks

  • Recognition
  • Money judgments
  • Concurrent proceedings
  • International treaties
  • Procedures for foreign creditors

 

Reform

 

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