Regional news: Guernsey
Privy Council makes “far-reaching” ruling on insolvent offshore trusts
In a decision that lawyers say will have a “far-reaching and long-lasting” impact on the offshore trusts industry, the UK Privy Council has found that trustees have a proprietary interest in trust property in relation to their rights of indemnity, which survives when a successor takes over – and that successive trustees should be ranked pari passu in respect of that interest if there aren’t enough trust assets to go round.
17 October 2022
Crowell & Moring hires partner in New York
Crowell & Moring has bolstered its New York restructuring offering after hiring a Duane Morris partner with credits on the Pacific Andes and Hertz bankruptcies.
06 August 2021
Hotel operator JJW’s winding up appeal blocked in Guernsey
A European hotel and leisure group’s holding company has been denied a second chance at appealing its compulsory winding up in Guernsey, despite arguing that the French judgment debt at the heart of its winding up had been overturned.
16 July 2021
Appleby advised Arcadia administrators in Jersey, Guernsey and the Isle of Man
A court decision published in Jersey shows how offshore firm Appleby helped the joint administrators of British retail tycoon Philip Green’s Arcadia Group obtain recognition in the Channel Islands and the Isle of Man, before his fashion empire was sold off.
24 February 2021
Guernsey fund’s liquidators secure emergency US discovery powers
The voluntary liquidators of a Guernsey-incorporated fund have secured provisional US recognition in New York, along with powers to examine transfers made by a Delaware real estate group.
29 January 2021
Ogier adds new partners in Hong Kong and Guernsey
Offshore firm Ogier has boosted its global restructuring offering with the appointment of three news partners in Hong Kong and Guernsey.
14 December 2020
Guernsey liquidators secure court’s “blessing” for Georgian oil group sale
A Guernsey court has approved the sale of an insolvent Georgian oil group, dismissing accusations that its liquidators sought to shed responsibility for a deal that did not benefit creditors.
09 November 2020
Ogier promotes one in Guernsey, hires two in London
Offshore firm Ogier has promoted Bryan de Verneuil-Smith in its Guernsey dispute resolution team and hired Jeremy Snead and Anna Snead from Appleby in the Cayman Islands.
03 July 2020
British retailer Matalan to launch scheme after securing additional liquidity
Guernsey-owned British fashion and homeware retailer Matalan is launching a scheme of arrangement to deal with its second lien debt after raising £50 million of additional liquidity to see it through covid-19 disruption.
12 June 2020
Guernsey miner files Chapter 15 after losing US$2bn arbitration
Guernsey-based mining company BSG Resources has filed Chapter 15 proceedings in New York, as it tries to stop Brazilian miner Vale from enforcing a US$2 billion arbitration award.
05 June 2019