Guernsey: insolvency law reform - consultation underway

A consultation is currently underway in respect of Guernsey's insolvency law regime. Opinions are sought on reform proposals concerning personal and corporate insolvency, in a discussion paper published by the Commerce and Employment Department: see here (pdf). The paper provides a useful overview of Guernsey's current insolvency law regime.

Amongst the questions asked in the consultation paper are the following. Should there be a single insolvency law statute? Is it necessary to create the office of 'official receiver' in Guernsey? Should there be a registration and licensing regime for insolvency practitioners? Should there be a widening of circumstances in which antecedent transactions are capable of challenge?  Should a register for fixed and floating charges be introduced?