An overview of Guernsey legislative and regulatory developments for the period 1 December 2022 to 28 February 2023 inclusive.
1 Corporate insolvency regime – update
The Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020 (the Amendment Ordinance) finally came into force on 1 January 2023.
Guernsey, Capital Markets, Company & Commercial, Insolvency & Restructuring, IT & Data Protection, Litigation, White Collar Crime, Mourant, Anti-money laundering, Confidential information, Suspicious activity reporting, European Court of Justice
In a recent decision enforcing the discharge injunction under Section 1107(d)(1)(A) of the Bankruptcy Code, the Bankruptcy Court for the Western District of Pennsylvania blocked a creditor from asserting a claim against the debtor after confirmation of the plan. The case of In re Trustees of Conneaut Lake Park, Inc.), No. 14-11277, 2018 Bankr. LEXIS 1447 (JAD) (Bankr. W.D. Pa.