Are you witnessing an increasing trend towards any particular types of dispute?
Introduction
The Companies (Guernsey) Law, 2008 (“Companies Law”) provides for companies, protected cell companies (“PCCs”), incorporated cell companies (“ICCs”) and cells of PCCs and ICCs to be placed into administration and for an administrator to be appointed to manage that entity's affairs whilst the administration order remains in force.
Dans l’affaire de la Loi sur les arrangements avec les créanciers des compagnies relative à Nemaska Lithium, la Cour supérieure du Québec rend une décision intéressante en ce qui concerne la possibilité pour une débitrice de résilier des contrats auxquels elle est partie et sur son obligation, le cas échéant, de payer à son cocontractant les frais qu’il doit encourir pour reprendre possession de biens loués.
In the matter of the Companies’ Creditors Arrangement Act of Nemaska Lithium, the Québec Superior Court rendered an interesting decision regarding the possibility for a debtor to disclaim agreements and its obligation, if any, to pay its counterparty the costs it must incur to repossess leased property.
Background: Nemaska Lithium disclaims a housing modules rental agreement
PLAN SPONSOR ENTITLED TO VOTE AS CREDITOR AND CREDITOR APPROVAL REQUIRED TO IMPLEMENT LITIGATION FUNDING AGREEMENT.
In September 2012, Grant Thornton were appointed by the Royal Court of Guernsey as joint administrators of a Guernsey company called Montenegro investments limited (MIL) - a Guernsey property Investment Fund.. The joint administrators then appointed Ogier.
Current Status of MIL
This client briefing provides a general overview of schemes of arrangement for Guernsey companies under the Companies (Guernsey) Law, 2008 (the Companies Law). A scheme of arrangement can involve almost any kind of corporate reorganisation, merger, acquisition or restructuring so long as the appropriate approvals and court sanction are obtained. In the context of restructurings, there is limited precedent in Guernsey, although such schemes of arrangement can be used to assist in insolvent/quasi-insolvent restructurings.
Alan Roberts (the Liquidator) was the liquidator of both Kingston Management (Guernsey) Limited (KMGL) and Amazing Global Technologies Limited (AGTL). He was appointed on 27 May 2009 and 31 May 2010 respectively.