Colin Riegels

Colin Riegels

Harney Westwood & Riegels

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Overview of Anguillan Company Law

Although not normally regarded as being in the first tier of traditional offshore jurisdictions, 2015 is shaping up to be an exciting year for financial services in Anguilla (or “British Anguilla”, as it sometimes likes to...more

3/19/2015 - Anguilla Business Formation Financial Services Commission Insolvency International Business Company Securities

Privy Council clarifies power to rectify share registers of BVI companies

On 21 January 2015 the Privy Council handed down its decision in Nilon Limited v Royal Westminster Investments SA [2015] UKPC 2 clarifying the power of the courts to rectify the share register of a BVI company under section...more

3/2/2015 - Business Litigation BVI Business Companies

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

Record Keeping Obligations for BVI Companies, Partnerships, Trusts and Other Organisations

The record keeping obligations applicable to BVI companies and partnerships were amended in November 2012 and again in September 2014. The changes have been introduced following OECD Peer Reviews of the Territory. The Reviews...more

11/17/2014 - BVI Business Companies OECD Recordkeeping Requirements

BVI’s Arbitration Act 2013 is now in force

The British Virgin Islands’ (BVI) Arbitration Act 2013 came into force on 1 October 2014. It is a landmark piece of legislation which is expected to propel alternative dispute resolution in the BVI into high gear. The BVI is...more

10/6/2014 - Arbitration Arbitration Agreements BVI Business Companies International Arbitration

The BVI Arbitration Act: A Significant Legislative Milestone

The British Virgin Islands’ (BVI) government has announced by proclamation that the Arbitration Act 2013 will come into force on 1 October 2014. The stated intention has been to bring the Act into force at the same time as...more

7/30/2014 - Arbitration International Arbitration UNCITRAL

BVI advice necessary in relation to BVI company claims: Wong v Wang

The Hong Kong Court of First Instance confirmed in its recent decision in Wong Ming Bun v Wang Ming Fan [2014] 1 HKLRD 1108 that in any claim by way of derivative action on behalf of a company incorporated in the British...more

7/29/2014 - Derivatives Foreign Judgments Foreign Jurisdictions

BVI court ruling highlights potential risk in some standard form M&As

On 19 March 2014 the Commercial Court handed down its ruling in C v W Inc (BVIHC (Com) 2013/149). In that case a shareholder holding more than 30 per cent of the company’s shares tried to exercise its power to requisition a...more

3/28/2014 - Business Companies Act BVI Business Companies Shareholder Litigation Shareholders

New BVI Arbitration Act now in force

On 17 December 2013 the British Virgin Islands House of Assembly had the third and final reading of the new Arbitration Act 2013, which came into force on 23 January 2014. The new Arbitration Act was part of the work...more

1/24/2014 - Arbitration BVI Business Companies

BVI passes new Arbitration Act

On 17 December 2013 the British Virgin Islands House of Assembly had the third and final reading of the new Arbitration Act 2013. The new Act will come into force on a date to be announced. The following analysis is based on...more

12/20/2013 - Arbitration Arbitration Awards Jurisdiction Local Taxes New Legislation New York Convention Stamp Taxes UNCITRAL

UK property tax changes: “de-enveloping” or a use of a trust?

It has long been popular for high net-worth people who are not domiciled in the United Kingdom (“non-doms”) to form an offshore company, often in the British Virgin Islands (“BVI”), for the purposes of holding property in the...more

1/21/2013 - Domicile Inheritanance Tax Offshore Companies Private Trust Companies Property Tax Stamp Taxes

BVI Court gives guidance on s175 procedure

British Virgin Islands companies are generally free to dispose of their assets on such terms as the directors think fit, but where the assets being disposed of constitute 50% or more of the company’s total assets, then...more

1/18/2013 - Board of Directors Business Companies Act Section 175 Shareholder Resolution Shareholders

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