Guernsey: Insolvency/Bankruptcy/Re-Structuring

This note provides a brief synopsis of the common law duties owed by directors of companies ("companies") incorporated in the Island of Guernsey ("Guernsey").

With reassuringly familiar corporate and insolvency regimes, a preferential tax regime, and located in the same time zone as London, Guernsey entities are popular across many different types of structured financing.

Restructuring & Insolvency Comparative Guide for the jurisdiction of Guernsey, check out our comparative guides section to compare across multiple countries

Understanding the Guernsey insolvency regime is essential for creditors, investors and advisers navigating enforcement and recovery in the Bailiwick.

Saisie is the customary procedure in Guernsey whereby a creditor can enforce against the real property of their debtor and ultimately have the realty vested in them in order to satisfy the debt. This enforcement process relates to all of the debtor's realty in Guernsey.

The Companies (Guernsey) Law, 2008 (the Law) has a procedure that allows a Guernsey company which has been dissolved to be restored to the Guernsey Company Register (the Register). This guide looks at the key things you need to know about restoring a dissolved company in Guernsey. This guide assumes that the company is an unregulated, non-cellular company limited by shares.