Resources & Articles
Resources & Articles
One of the objectives of ARIES from the beginning,
has been to contribute to the development of insolvency law and practice in our jurisdictions.
With both Guernsey and Jersey contemplating changes to the law, ARIES has made a positive contribution to the debate and is being seen as an important part of the consultation process.
Debate continues in Jersey on the merits of reforming the insolvency law and in particular the introduction of a rescue remedy. The Jersey Legal & Regulatory Committee (L&R) worked hard on making a substantive submission in November 2014 in response to a discussion paper commissioned by the Financial Services Unit of the Chief Minister's Department regarding reform of Jersey's law of corporate insolvency. A copy of the response can be found here.
Meanwhile, the Guernsey L&R Committee has compiled a summary of the views of ARIES members in response the Department of Commerce and Employment’s Consultation Paper on Insolvency Law reforms. A copy of the ARIES response is available here. The L&R Committee have advised that overall the responses were consistent, with very few divergent views. This is positive and demonstrates that on the whole our members are “on the same page”.
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Guernsey Insolvency Law Reform
As a result of a consultation with industry bodies and professionals that has spanned several years, the States of Guernsey have drafted The Companies (Guernsey) Law, 2008 (Insolvency) Amendment Ordinance, 2019 (“the Ordinance”) which introduces a number of proposed additions to the Companies Law.
To read the rest of the article, written by Andrea Harris, Director KRyS Global, can be found here.
Guernsey Practice Direction 3/2015
the Tuesday Ordinary Court will be held twice in every calendar month, starting at 1015 hours as a Commercial Court for the hearing of applications relating to corporate entities, such as corporate insolvency matters and other applications under The Companies (Guernsey) Law, 2008 which require a hearing before Jurats.
Further details and a copy of the Direction can be found here.
Ethical Principles for Insolvency Practitioners (Guidelines)
Provided by INSOL International to further improve existing best practices and are available here.
Jersey Law Resources
Channel Island's legal text books can be a useful source of reference. Click here to find books that may assist you or your clients and colleagues.
Provided by INSOL International to further improve existing best practices and are available here.
Jersey Law Resources
Channel Island's legal text books can be a useful source of reference. Click here to find books that may assist you or your clients and colleagues.
Legal Updates
Click here
for a range of updates from Law Firms, relating to Restructuring and Insolvency.