Private wealth structures are not immune from insolvency. Here we examine the Jersey and Guernsey position from the trustee's perspective and consider the issues with which a trustee needs to be familiar.

Test for insolvency

German legislator finally introduces tax exemption for income resulting from debt waivers in restructuring scenarios with retroactive effect.

To date, a debt waiver has been frequently used as a tool to successfully restructure German-based companies in financial difficulties.