The Privy Council has recently upheld a BVI judgment refusing stay of a winding up petition in favour of arbitration. The recent Sian Participation Corp (In Liquidation) v Halimeda International Ltd1 Privy Council decision...more
7/8/2024
/ Appeals ,
British Virgin Islands ,
Business Litigation ,
BVI Business Companies ,
Creditors ,
Dispute Resolution ,
Foreign Arbitration Clauses ,
International Arbitration ,
Liquidation ,
UK Privy Council ,
Winding Up Petitions
Russell Crumpler & Christopher Farmer (as Joint Liquidators of Three Arrows Capital Ltd (in Liquidation)) v Three Arrows Capital Ltd (in Liquidation) and BVIHC (Com) 2022/0119 (unreported 26 July 2023)
The BVI liquidation...more
4/9/2024
/ Appeals ,
Bankruptcy Code ,
British Virgin Islands ,
Business Litigation ,
BVI Business Companies ,
Chapter 11 ,
Commercial Bankruptcy ,
Common Law Privilege ,
Dismissals ,
Dispute Resolution ,
Insolvency ,
Motion for Sanctions
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
12/4/2023
/ Appeals ,
Asset Freeze ,
Asset Tracing ,
British Virgin Islands ,
BVI Business Companies ,
Commercial Litigation ,
Companies Act ,
Corporate Dissolution ,
Cryptoassets ,
Cryptocurrency ,
Dispute Resolution ,
Fraud ,
Injunctions ,
Insolvency ,
Shareholders ,
UK Privy Council
In order for a foreign judgment to be enforced in the BVI, it must either be: (1) registered and recognised as enforceable under the Reciprocal Enforcement of Judgments Act 1922 (the “1922 Act); or (2) enforceable under the...more
In the recent decision of Greig William Alexander Mitchell & Ors v Sheikh Mohamed Bin Issa Al Jaber & Ors [2023] EWHC 364 (Ch), the English High Court was required to consider the question of what duties (if any) a director...more
Inflationary pressures and increasing interest rates are expected to continue to have a negative impact on the global economy during 2023. In this article we consider restructuring options under BVI law available to companies...more
2/20/2023
/ Board of Directors ,
British Virgin Islands ,
BVI Business Companies ,
Corporate Governance ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Enforcement ,
Fiduciary Duty ,
Financial Distress ,
Insolvency
On 22 September 2022, the Law Commission published a consultation paper (the “Consultation Paper”) on the English Arbitration Act 1996 (the “English Arbitration Act”) which included a number of significant provisional...more
1/4/2023
/ Appeals ,
Arbitration ,
Arbitration Agreements ,
Arbitrators ,
British Virgin Islands ,
Consultation Papers ,
Disclosure Requirements ,
Discrimination ,
Duty of Confidentiality ,
Immunity ,
Independence Rules ,
Jurisdiction ,
Tribunals
On 5 October 2022 the UK Supreme Court (UKSC) handed down its “momentous” decision in BTI 2014 LLC v Sequana SA and others1. The case addresses issues of ‘‘considerable practical importance to the management of companies’’,...more
A recent decision from the English High Court has highlighted the importance of disclosing details of assets when seeking to resist orders for security for costs against a non-resident claimant. In Ras Al Khaimah Investment...more
In recent years there have been a number of cases in the BVI in which the Court has been asked to reopen judgments or orders prior to their sealing. In those cases, the BVI Court has consistently found - adopting the...more
It is quite common for a party considering bringing an interim injunction application to weigh, among other things, the risk, by bringing the application, of having to disclose information to the court and the respondent that...more
The International Centre for Settlement of Investment Disputes (ICSID) is an international institution, created under the auspices of the World Bank, which is arguably the world’s leading international institution for the...more
On 9 July 2021, a number of important pieces of legislation were brought into force in the BVI on the same day. Those enactments have made significant changes to the law in their respective areas, namely trusts, probate, data...more
From time to time the BVI Commercial Court is asked to consider whether or not to permit a director of a BVI company to appear in person on behalf of that company. The general rule as to the ability of directors to appear on...more