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2020 Heralds New Insolvency Law Changes for Guernsey

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Published on: 24 January 2020

Published by a LexisNexis Restructuring & Insolvency expert

Table of contents

A members’ voluntary winding up
The power to demand documents and interview individuals
The power to disclaim
Transactions at undervalue and exorbitant credit transactions
Further administrator powers: distributions to creditors, early dissolution and creditor meetings
Winding up non-Guernsey companies
Supplies of gas, water, electricity and IT
Duty to report delinquent officers of the company
Conclusion

Article summary

Restructuring & Insolvency analysis: On 15 January 2020 the States of Guernsey passed the Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020, making Guernsey an even more desirable forum for insolvency proceedings. Written by Alex Horsbrugh-Porter, Advocate and Counsel at Ogier (Guernsey) LLP.

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