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British Virgin Islands Fraud

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BVI Commercial Court Dismisses Judgment Debtors’ Attempt to Set Aside US$97 Million Judgment

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In a recent decision of the BVI Commercial Court, the Honourable Mr Justice Wallbank dismissed an application by the Defendants in King Bun Limited & Ors v Lau Man Sang James & Ors to set aside a previous order granting...more

Walkers

Schemes of Arrangement – any interest?

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In its recent judgment in Tristan Oil Ltd v The Scheme Creditors (BVIHCM 2023/0120) the BVI Commercial Court (the Hon. Justice Paul Webster (Ag.)) has considered the question of when a party not bound by a scheme of...more

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How to Fail at Service Out: Misleaders Beware Jurisdiction Challenge – BVI Court Sets Aside Ex Parte Service Out Order in US$230...

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In a recent judgment, which was heavily critical of the claimant bank, the BVI Commercial Court has set aside an order obtained ex parte permitting service on non-BVI resident defendants of a fraud claim out of the...more

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Newcomer Injunctions – a Tool in the Fight Against Crypto Fraud?

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On 29 November 2023, the UK Supreme Court (the “UKSC”) handed down its decision in Wolverhampton City Council and others (Respondents) v London Gypsies and Travellers and others (Appellants). In that case the UKSC thoroughly...more

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Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

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Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

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Voidable Dispositions under the Conveyancing and Law of Property Act – an Underutilised Tool in the BVI Asset Tracing Toolbox

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Voidable dispositions in the BVI are governed by section 81 of the Conveyancing and Law of Property Ordinance. The Act was passed in 1961 and is often overlooked in the heady world of fast-paced litigation where fraudsters...more

Conyers

King Bun Limited and Others v. Lau Man Sang, James and Others - Claim No. BVIHC (COM) 2017/086

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Nov 2023 In August 2021, the BVI Commercial Court handed down judgment on liability in favour of the Claimants against seven directors of Vanway for carrying out a fraud on the minority shareholders, in selling the assets of...more

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Frozen Crypto Assets and a Dissolved Company: The EC Court of Appeal’s Application of Convoy Collateral

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In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 (“Convoy”), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered a ground-breaking exposition of the law...more

Walkers

Supreme Court narrows banks' liabilities for fraudulent payments: the offshore impact

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Fraud is on the rise. And as sums defrauded usually disappear, victims search for an alternative source to recover their losses. Unsurprisingly, the search often identifies banks' resources as a potential first call. ...more

Conyers

Estate in the BVI and other Offshore Jurisdictions: Your Family Business

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Many high-net-worth individuals have used companies incorporated in offshore financial centres, such as the British Virgin Islands (“BVI”) to hold their assets and business. When they plan their estate or distribute the...more

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