Andrew Thorp

Andrew Thorp

Harney Westwood & Riegels

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Shareholder Disputes: When is Just and Equitable Liquidation Appropriate?

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

6/24/2015 - Appeals Business Companies Act BVI Business Companies Insolvency Offshore Companies Pharmaceutical Manufacturers Shareholder Litigation Shareholders Winding Down

Asset Tracing in the British Virgin Islands

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

6/22/2015 - Anton Pillar Orders Articles of Incorporation Asset Tracing Audits Bankers Trust Orders Black Swan Orders British Virgin Islands BVI Registrar of Corporate Affairs Court-Appointed Receivers Foreign Corporations Freezing Injunctions Gag Orders Injunctions International Litigation Misappropriation Norwich Orders

BVI Case Notes, February 2015

BVIHC (COM) 105OF2014: Hornbeam Corporation v Halliwel Assets Inc, Panikos Symeou, Marigold Trust Company Limited (18 December 2014) - Introduction: In circumstances where a defendant obtains a costs order...more

2/24/2015 - Board of Directors Injunctions Jurisdiction Service of Process UK

BVI Arbitration Act interim relief

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

2/13/2015 - Arbitration BVI Arbitration Act BVI Business Companies Injunctions

Seeking fair value: BVI Court provides guidance for appraisers valuing shares

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

1/30/2015 - Accountants BVI Business Companies Corporate Restructuring Shareholders Stock Deals Stocks Valuation

Anguilla publishes draft bill for new insolvency legislation

The Anguillan government has published a bill for a new Insolvency Act for public review and consultation. Background - Reform of Anguillan insolvency law is long overdue. Personal bankruptcy is presently...more

1/26/2015 - Anguilla Insolvency New Legislation

Power to Assist Foreign Insolvency Proceedings in the British Virgin Islands

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

12/1/2014 - BVI Business Companies Commercial Bankruptcy Foreign Judgments Insolvency Pricewaterhousecoopers

BVI Case Notes, July 2014

Recent cases before the British Virgin Islands courts include matters dealing with arbitration agreements and awards, and default judgments. Arbitration Agreements: BVIHCMAP0013/2014: Anzen Ltd and others v...more

7/11/2014 - Arbitration Arbitration Agreements Arbitration Awards

The BVI Commercial Court – interfacing with arbitration

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. Standing to...more

3/4/2014 - Arbitration Arbitration Agreements International Arbitration

Game-changer: Harneys opens door to foreign enforcement actions in the BVI

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

2/19/2014 - Enforcement Enforcement Actions Foreign Judgments Foreign Jurisdictions

Court clarifies enforceability of foreign judgments in BVI

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

12/9/2013 - BVI Business Companies Foreign Judgments Foreign Jurisdictions

Multiple Derivative Actions in the BVI: Tried but not tested?

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

10/31/2013 - BVI Business Companies Derivative Suit Double Derivative Claims Microsoft Microsoft v Vadem Ltd

BVI Case Notes, October 2013

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

10/30/2013 - BVI Business Companies Deed of Trust Forum Forum Non Conveniens

The BVI Commercial Court – Interfacing with Arbitration

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

10/30/2013 - Arbitration BVI Business Companies Liquidation Mandatory Arbitration Clauses Remedies

BVI Case Notes, July 2013

Below is a summary of recent cases out of the British Virgin Islands (BVI) Commercial Court, compiled by Harneys’ Litigation team....more

8/2/2013 - Foreign Banks Insolvency Unjust Enrichment

BVI Case Notes, May 2013

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

5/27/2013 - Derivative Suit Foreign Jurisdictions Injunctions Liquidation Third-Party Liability

Order Restored: Court hands down key judgment on BVI hedge fund insolvencies

Introduction - 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

3/12/2013 - Hedge Funds Investors Liquidation Offshore Funds

BVI Case Notes: Derivatives, double derivatives and unfair prejudice

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

1/20/2013 - Alter Ego Derivative Suit Derivatives Double Derivative Claims Forum Microsoft Prejudice Shareholders Subsidiaries

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