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New compromise

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Malcolm - Mathew here, one of the authors of the above. The short answer is no, Guernsey law does not provide for CVAs as you would call them in the UK. If the Guernsey co wants to effect an arrangement with its creditors and it is insolvent then the arrangement under the Companies Law is probably not ideal either. The alternative is an informal arrangement based on contract or an insolvency process such as administration or liquidation. Equally the creditors could commence desastre or saisie proceedings if one of them has a judgment debt. Hope this helps. Regards Mathew

Posted date

13-Apr-2010

Posted time

12:53 pm

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