In a dispute involving the issuance and vesting of cryptocurrency tokens our team of experts recently sought and obtained a proprietary injunction restraining the respondent from dealing with or disposing of a number of crypto tokens pending the determination of the dispute.

In granting the order the BVI Court has followed established BVI authority in Chainswap[1] and Torque Group[2] that fungible tokens are to be treated as property, and demonstrated that it will move swiftly and on short notice to protect assets that are deemed to be at risk.

Murray Laing, partner in our BVI insolvency and dispute resolution team commented: "this is a welcome outcome for stakeholders dealing with a BVI company's digital assets".

[1] BVIHC(COM)2022/0031

[2] BVIHC9COM)2021/0031

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