The Minister for Economic Development has proposed 1 August as the appointed day for Amendment 5 to the Bankruptcy (Désastre) Jersey Law to come into force.
The amendment updates the Island’s provision for bankruptcy procedures and also brings it into line with recent amendments to the Companies Law.
This means that companies will receive the same treatment, regardless of whether they are subject to a winding-up under the Companies Law or a désastre under the Bankruptcy Law.
