Fulltext Search
Timely improvements to Guernsey insolvency regime in the pipeline

The States of Guernsey has announced the recommendations from the consultation carried out on proposed changes to the Companies (Guernsey) Law 2008. This coincides with a judgment from the Royal Court highlighting the timely nature of proposed changes.

The 2008 Law was the result of a wholesale revision and consolidation of the corporate legal framework. Whilst its focus was on corporate law it also encompassed the insolvency regime in Guernsey. The consultation exercise was to determine what, if any, changes may be required now that the 2008 Law had been in place for some time.

Guernsey, Insolvency & Restructuring, Bedell Cristin, Liquidation
Guernsey insolvency law – administration orders

Introduction

Guernsey, Insolvency & Restructuring, Private Client & Offshore Services, Bedell Cristin, Debt, Liability (financial accounting), Liquidation, Moratorium, European Commission, Insolvency Act 1986 (UK), Enterprise Act 2002 (UK)
In re TOUSA: District Court reverses bankruptcy court's order requiring lenders to disgorge $480 million as fraudulent transfer

On February 11, 2011, the Hon Alan Gold of the United States District Court for the Southern District of Florida issued a 113 page opinion and order quashing the bankruptcy court's order requiring the lenders involved in TOUSA, Inc.'s Transeastern joint venture to disgorge, as fraudulent transfers under Section 548 of the Bankruptcy Code, settlement monies that they had received on July 31, 2007 in repayment of their existing debt and to pay prejudgment interest on such monies, for a total disgorgement in excess of $480 million.

USA, Florida, Insolvency & Restructuring, Litigation, White Collar Crime, Sheppard Mullin Richter & Hampton LLP, Bankruptcy, Surety, Debt, Liability (financial accounting), Joint venture, Default (finance), Subsidiary, United States bankruptcy court, Eleventh Circuit