Introduction
Solvency test
Standing and process
Purposes of administration
Effects of administration order
Administrator's duties and functions
Remuneration and swearing in of administrator

Introduction

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.

Liquidators have more certainty about their ability to disclaim the environmental liabilities and responsibilities of a company in liquidation.

The liquidators were not bound to cause Linc to comply with the EPO from the date of the disclaimer.

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