Both the British Virgin Islands (BVI) and the Cayman Islands have recently updated and modernised their arbitration regimes. The Cayman Islands passed their legislation first, and in Cayman the process of arbitration is now...more
Unfair prejudice claims are commonplace in the British Virgin Islands (BVI) following the introduction of bespoke provisions in the BVI Business Companies Act 2004 and have all but replaced old fashioned just and equitable...more
In this article, we will discuss some of the tools available to a party in the British Virgin Islands (BVI) to seek to recover property, or proceeds of property, which have been misappropriated. It is not surprising that in...more
BVIHC (COM) 105OF2014: Hornbeam Corporation v Halliwel Assets Inc, Panikos Symeou, Marigold Trust Company Limited (18 December 2014) -
In circumstances where a defendant obtains a costs order...more
Following the Black Swan decision the British Virgin Islands (BVI) Court has exercised a power to grant free-standing injunctions to safeguard assets in support of foreign proceedings. ...more
This week the BVI Court issued important guidance to accountancy professionals, BVI companies and their shareholders as to how shares should be valued following a squeeze-out, merger or dissent from other restructuring...more
The Anguillan government has published a bill for a new Insolvency Act for public review and consultation.
Reform of Anguillan insolvency law is long overdue. Personal bankruptcy is presently...more
The attention of foreign insolvency and bankruptcy
professionals is often turned towards the British Virgin Islands (BVI). The volume of asset holding structures and the network of connected service providers and directors...more
Recent cases before the British Virgin Islands courts include matters dealing with arbitration agreements and awards, and default judgments.
BVIHCMAP0013/2014: Anzen Ltd and others v...more
Recent decisions in the BVI Commercial Court have shaped the applicability and enforcement of arbitration clauses and, notably, how they interface with BVI statutory remedies and liquidations.
Harneys has successfully brought an action that changes the law relating to the access of the BVI Courts to enforce a foreign judgment. The Court of Appeal victory was quickly followed by a change in the civil procedure rules...more
On Thursday 5 December the ECSC Court of Appeal handed down an order bringing much needed clarity to the Eastern Caribbean Civil Procedure Rules (the CPR) relating to service out of foreign judgments and arbitral awards. The...more
On 8 August 2013, the Court of Appeal issued its ruling in the case of Microsoft Corporation v Vadem Ltd . The judgment at first blush appears quite definitive, that “BVI law does not permit double derivative...more
Below is a summary of recent cases out of the British Virgin Islands (BVI) Commercial Court, compiled by Harneys’ Litigation team.
Ruling on the use and status of ancillary relief proceedings and forum non conveniens...more
Key recent decisions in the BVI Commercial Court have shaped the applicability and enforcement of arbitration clauses and notably how they interface with BVI statutory remedies and liquidations.
Harneys take a look at...more
Below is a summary of recent cases out of the British Virgin Islands (BVI) Commercial Court, compiled by Harneys’ Litigation team....more
Recent cases out of the British Virgin Islands (BVI) Commercial Court deal with issues including third party costs and the applicability of Black Swan freezing relief in support of foreign derivative claims. In addition a...more
The Court of Appeal of the Eastern Caribbean Supreme Court on Monday, 11 March handed down an important ruling on the question of where investors stand in the “waterfall” of distributions in the...more
Harneys continues to provide a regular roundup of recent case notes from the British Virgin Islands Commercial Court. In this edition we report on recent court guidance on leave to bring derivative proceedings and double...more