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Guernsey cross-border insolvency: assisting foreign insolvency office holders

Introduction
Process to recognise foreign office holder in Royal Court
Benefits of section 426 of the Insolvency Act case law
Comment


Introduction

Guernsey, Insolvency & Restructuring, Ogier
Guernsey cross-border insolvency - assisting foreign insolvency office holders

This article first appeared in Offshore Red.

Guernsey is a jurisdiction that is well used to requests from foreign insolvency office holders for assistance in collecting in assets located in Guernsey. Occasionally these requests involve assistance in interviewing former directors of companies in an insolvency process.

Guernsey, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ogier
INSOL Europe insights: cryptoassets and insolvency

It's probably becoming a cliché to say that the future is already here, but it's hard to resist. New technology increasingly pervades every professional sector, including that of insolvency.

In a recent report by the Law Society on developing technology, the Chancellor of the High Court, Sir Geoffrey Vos, commented that: "Lawyers face a steep learning curve. They will need to become familiar with […] cryptoassets – conceptually and functionally."

Japan, Banking, Insolvency & Restructuring, IT & Data Protection, Litigation, Ogier, Blockchain, Bitcoin, Cryptocurrency
A Reminder That a 9019 Motion Is Not a Slam Dunk: Bankruptcy Court Denies 9019 Motion After Determining That Approving Certain Findings Required By Settlement Would Amount to Inappropriate Advisory Opinion

Introduction

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy
The Aftermath of a Complicated Breakup: Third Circuit Holds Stalking Horse Bidder in Terminated Transaction May Assert Potential Administrative Expense Claim Notwithstanding Disallowance of Its Termination Fee

Executive Summary

On March 15, 2021, the Third Circuit Court of Appeals (the “Third Circuit”) held that a stalking horse bidder may assert an administrative expense claim pursuant to section 503(b)(1)(A) of the Bankruptcy Code for costs incurred in attempting to close on an unsuccessful transaction, even when the stalking horse bidder is not entitled to a breakup or termination fee.

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Due diligence
Restructuring and insolvency guide

Domestic procedures
Cross-border procedures
Creditors
Avoidance transactions
Contributions to the liquidation estate and liability of officers


This article answers key questions regarding restructuring and insolvency in Guernsey.

Guernsey, Insolvency & Restructuring, Ogier
Restructuring and insolvency guide

This article answers key questions regarding restructuring and insolvency in Guernsey.

Domestic procedures

Question

Guernsey, Insolvency & Restructuring, Private Client & Offshore Services, Ogier
Latitude: Ogier's restructuring and corporate recovery digest, March 2021

Q4 2020 and Q1 2021 saw some significant developments in offshore restructuring, insolvency and corporate recovery, with the passage of new legislation and the handing down of judgments providing welcome clarification on laws relevant to practitioners in this area.

Cayman Islands, Guernsey, Insolvency & Restructuring, Litigation, Ogier, Private equity, Coronavirus
Officers of Selling Companies May Escape Fiduciary Duty Liability But May Be Required to Return Change of Control Payments if Company is Insolvent Post-Closing (Nine West Part 2)

While there has been much fuss over the recent ruling by the United States District Court for the Southern District of New York in In re Nine West LBO Securities Litigation1 due to its potential ramifications for director liability, as we explored in Part I of our series on this case here, court watchers have paid less attention to the court’s treatment of officer liability and the interes

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Private equity, Due diligence
Attention Buyers of Assets in Bankruptcy: How To Be A Good Faith Purchaser and Ensure Any Post-Closing Challenges Will Be Dismissed as Statutorily Moot Under Section 363(m) of the Bankruptcy Code

Introduction

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP