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Guernsey court recognises UK bankruptcy trustees under common law, but limits powers

By Kyriaki Karadelis

25 July 2017

Guernsey court recognises UK bankruptcy trustees under common law, but limits powers iStock.com/Nicolaev

In a landmark decision, a court in Guernsey has recognised the rights of bankruptcy trustees appointed in England over the estate of a former company director, but has prevented them from collecting proceeds from sales of his assets in local désastre proceedings - leaving them entitled only to an unsold watercolour painting.