In April, Guernsey introduced a new type of segregated cell company (SCC) structure known as an incorporated cell company (ICC). This follows the protected cell company (PCC), which Guernsey pioneered in 1997 and is now emulated in 39 other jurisdictions.
An SCC allows different economic interests to be represented in a single corporate vehicle, while protecting the assets of each economic interest from the insolvency of one or more of the other interests, thereby altering the normal pari passu rules of distribution upon liquidation or insolvency.
