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
Background The corporate insolvency resolution process (CIRP) against Jaiprakash Infratech Limited (JIL) commenced when the National Company Law Tribunal, Allahabad (NCLT) passed an order dated 09.08.2017 admitting the petition of IDBI Bank Limited under Section 7 of the Insolvency and Bankruptcy Code 2016 (IBC). |